Telsey Advisory Group Cuts Steven Madden (NASDAQ:SHOO) Price Target to $44.00

Steven Madden (NASDAQ:SHOO) had its target price decreased by Telsey Advisory Group from $50.00 to $44.00 in a research note issued to investors on Tuesday morning,Benzinga reports. Telsey Advisory Group currently has a market perform rating on the textile maker’s stock.

SHOO has been the topic of several other reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Steven Madden in a report on Thursday, December 5th. Citigroup lifted their price target on shares of Steven Madden from $43.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Finally, StockNews.com lowered shares of Steven Madden from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $43.33.

Steven Madden Price Performance

SHOO stock opened at $37.60 on Tuesday. Steven Madden has a 12 month low of $36.88 and a 12 month high of $50.01. The firm has a market cap of $2.71 billion, a P/E ratio of 16.00 and a beta of 1.07. The company’s 50-day moving average price is $42.15 and its two-hundred day moving average price is $44.12.

Steven Madden (NASDAQ:SHOO) last released its earnings results on Thursday, November 7th. The textile maker reported $0.91 EPS for the quarter, beating the consensus estimate of $0.89 by $0.02. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The firm had revenue of $624.68 million for the quarter, compared to analyst estimates of $607.89 million. During the same period last year, the firm earned $0.88 EPS. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. Equities analysts predict that Steven Madden will post 2.66 EPS for the current year.

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 2.23%. Steven Madden’s dividend payout ratio is presently 35.74%.

Institutional Investors Weigh In On Steven Madden

Several hedge funds have recently added to or reduced their stakes in SHOO. The Manufacturers Life Insurance Company boosted its position in Steven Madden by 1.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,141 shares of the textile maker’s stock worth $1,698,000 after buying an additional 484 shares during the period. Algert Global LLC acquired a new stake in Steven Madden during the 2nd quarter worth approximately $299,000. Creative Planning boosted its position in Steven Madden by 78.7% during the 2nd quarter. Creative Planning now owns 10,791 shares of the textile maker’s stock worth $456,000 after buying an additional 4,752 shares during the period. GAMMA Investing LLC lifted its position in shares of Steven Madden by 80.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,329 shares of the textile maker’s stock worth $65,000 after purchasing an additional 593 shares during the period. Finally, Exchange Traded Concepts LLC acquired a new position in shares of Steven Madden in the 3rd quarter worth approximately $59,000. 99.88% of the stock is currently owned by institutional investors and hedge funds.

About Steven Madden

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.