Steven Madden (NASDAQ:SHOO) Downgraded to “Hold” Rating by StockNews.com

StockNews.com lowered shares of Steven Madden (NASDAQ:SHOO) from a buy rating to a hold rating in a research note issued to investors on Tuesday.

Several other analysts have also commented on SHOO. Telsey Advisory Group reaffirmed a “market perform” rating and set a $50.00 target price on shares of Steven Madden in a report on Wednesday, November 13th. Citigroup raised their price objective on shares of Steven Madden from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Steven Madden in a research note on Thursday, December 5th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Steven Madden currently has an average rating of “Hold” and an average price target of $46.33.

Steven Madden Trading Up 1.4 %

SHOO opened at $40.84 on Tuesday. Steven Madden has a 12-month low of $37.99 and a 12-month high of $50.01. The firm has a 50 day moving average of $43.41 and a two-hundred day moving average of $44.46. The firm has a market capitalization of $2.95 billion, a PE ratio of 17.38 and a beta of 1.08.

Steven Madden (NASDAQ:SHOO) last issued its earnings results on Thursday, November 7th. The textile maker reported $0.91 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $607.89 million. During the same quarter last year, the company posted $0.88 earnings per share. The firm’s revenue was up 13.0% compared to the same quarter last year. As a group, analysts predict that Steven Madden will post 2.66 EPS for the current fiscal year.

Steven Madden Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend was Friday, December 13th. Steven Madden’s payout ratio is presently 35.74%.

Hedge Funds Weigh In On Steven Madden

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. increased its stake in shares of Steven Madden by 278.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 106,972 shares of the textile maker’s stock worth $4,548,000 after purchasing an additional 78,672 shares in the last quarter. Moody National Bank Trust Division increased its stake in Steven Madden by 21.3% during the 4th quarter. Moody National Bank Trust Division now owns 11,983 shares of the textile maker’s stock worth $510,000 after buying an additional 2,107 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in shares of Steven Madden by 1.9% during the fourth quarter. Harbor Capital Advisors Inc. now owns 124,271 shares of the textile maker’s stock valued at $5,284,000 after acquiring an additional 2,266 shares during the last quarter. Central Pacific Bank Trust Division raised its holdings in shares of Steven Madden by 7.4% during the fourth quarter. Central Pacific Bank Trust Division now owns 4,202 shares of the textile maker’s stock valued at $179,000 after acquiring an additional 290 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Steven Madden by 5.0% in the third quarter. JPMorgan Chase & Co. now owns 462,096 shares of the textile maker’s stock worth $22,638,000 after acquiring an additional 21,942 shares during the last quarter. 99.88% of the stock is owned by hedge funds and other institutional investors.

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.