Analysts Set Steven Madden, Ltd. (NASDAQ:SHOO) PT at $43.20

Shares of Steven Madden, Ltd. (NASDAQ:SHOO) have received an average recommendation of “Hold” from the seven research firms that are presently covering the company, Marketbeat reports. Six equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $43.20.

Several research firms have commented on SHOO. Piper Sandler dropped their target price on Steven Madden from $45.00 to $40.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. Jefferies Financial Group reiterated a “hold” rating on shares of Steven Madden in a research note on Monday, February 3rd. Citigroup reduced their target price on Steven Madden from $45.00 to $38.00 and set a “neutral” rating for the company in a report on Tuesday, February 4th. StockNews.com downgraded Steven Madden from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $44.00 target price on shares of Steven Madden in a research report on Friday, February 14th.

Institutional Investors Weigh In On Steven Madden

Hedge funds have recently modified their holdings of the business. Gladius Capital Management LP bought a new stake in shares of Steven Madden during the 3rd quarter valued at $36,000. R Squared Ltd bought a new stake in Steven Madden during the fourth quarter valued at about $55,000. Exchange Traded Concepts LLC bought a new position in shares of Steven Madden in the third quarter worth about $59,000. Quarry LP grew its position in shares of Steven Madden by 403.6% during the fourth quarter. Quarry LP now owns 1,385 shares of the textile maker’s stock worth $59,000 after purchasing an additional 1,110 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in Steven Madden by 94.1% during the 3rd quarter. Blue Trust Inc. now owns 1,619 shares of the textile maker’s stock valued at $79,000 after purchasing an additional 785 shares during the period. Institutional investors own 99.88% of the company’s stock.

Steven Madden Stock Down 1.7 %

SHOO opened at $37.89 on Friday. The stock has a market cap of $2.74 billion, a PE ratio of 16.12 and a beta of 1.07. Steven Madden has a 52 week low of $36.40 and a 52 week high of $50.01. The business has a 50 day moving average of $40.62 and a 200-day moving average of $43.70.

Steven Madden Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were given a dividend of $0.21 per share. The ex-dividend date was Friday, December 13th. This represents a $0.84 annualized dividend and a yield of 2.22%. Steven Madden’s dividend payout ratio (DPR) is 35.74%.

Steven Madden Company Profile

Steven Madden, Ltd. designs, sources, and markets fashion-forward branded and private label footwear, accessories, and apparel in the United States and internationally. It operates through Wholesale Footwear, Wholesale Accessories/Apparel, Direct-to- Consumer, and Licensing segments. The Wholesale Footwear segment designs, sources, and markets various products, including dress shoes, boots, booties, fashion sneakers, sandals, and casual shoes under the Steve Madden, Dolce Vita, Betsey Johnson, Blondo, GREATS, and Anne Klein brands.