Steven Madden (NASDAQ:SHOO) Trading Up 9.5% – Time to Buy?

Steven Madden, Ltd. (NASDAQ:SHOO) shares shot up 9.5% on Monday . The stock traded as high as $27.27 and last traded at $27.40. 1,262,089 shares changed hands during trading, an increase of 68% from the average session volume of 752,752 shares. The stock had previously closed at $25.03.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SHOO. Telsey Advisory Group lowered their price objective on Steven Madden from $44.00 to $38.00 and set a “market perform” rating on the stock in a report on Thursday, February 27th. Jefferies Financial Group reiterated a “hold” rating on shares of Steven Madden in a research report on Monday, February 3rd. Piper Sandler lowered their target price on shares of Steven Madden from $45.00 to $40.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. StockNews.com downgraded shares of Steven Madden from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Finally, Citigroup cut their price objective on Steven Madden from $38.00 to $35.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Eight equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $40.33.

Steven Madden Stock Performance

The business’s 50-day moving average price is $35.07 and its 200 day moving average price is $41.44. The company has a market cap of $1.98 billion, a P/E ratio of 11.65 and a beta of 1.06.

Steven Madden (NASDAQ:SHOO) last released its quarterly earnings results on Wednesday, February 26th. The textile maker reported $0.55 EPS for the quarter, beating the consensus estimate of $0.53 by $0.02. The business had revenue of $582.32 million for the quarter, compared to the consensus estimate of $550.37 million. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. Equities research analysts forecast that Steven Madden, Ltd. will post 2.66 earnings per share for the current year.

Steven Madden Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.07%. The ex-dividend date was Monday, March 10th. Steven Madden’s dividend payout ratio (DPR) is presently 35.74%.

Institutional Investors Weigh In On Steven Madden

Several hedge funds have recently modified their holdings of SHOO. Central Pacific Bank Trust Division increased its holdings in Steven Madden by 7.4% in the fourth quarter. Central Pacific Bank Trust Division now owns 4,202 shares of the textile maker’s stock valued at $179,000 after purchasing an additional 290 shares during the period. Mariner LLC lifted its holdings in shares of Steven Madden by 7.2% in the 4th quarter. Mariner LLC now owns 4,740 shares of the textile maker’s stock worth $202,000 after purchasing an additional 319 shares in the last quarter. Moran Wealth Management LLC lifted its stake in shares of Steven Madden by 1.6% in the fourth quarter. Moran Wealth Management LLC now owns 21,126 shares of the textile maker’s stock valued at $898,000 after buying an additional 325 shares in the last quarter. Blue Trust Inc. lifted its position in Steven Madden by 20.9% in the 4th quarter. Blue Trust Inc. now owns 1,958 shares of the textile maker’s stock valued at $83,000 after acquiring an additional 339 shares in the last quarter. Finally, Tidal Investments LLC boosted its position in shares of Steven Madden by 2.4% during the fourth quarter. Tidal Investments LLC now owns 17,784 shares of the textile maker’s stock valued at $756,000 after buying an additional 409 shares during the last quarter. Institutional investors and hedge funds own 99.88% of the company’s stock.

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.