Steven Madden (NASDAQ:SHOO) Rating Lowered to Hold at StockNews.com

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

Other research analysts also recently issued reports about the stock. Citigroup increased their target price on shares of Steven Madden from $43.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday. Telsey Advisory Group reissued a “market perform” rating and set a $50.00 price objective on shares of Steven Madden in a research report on Thursday, November 7th. Wedbush reissued a “neutral” rating and set a $41.00 price objective on shares of Steven Madden in a research report on Wednesday, August 7th. Finally, Piper Sandler reissued a “neutral” rating and set a $45.00 price objective on shares of Steven Madden in a research report on Friday, August 23rd. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $45.43.

Steven Madden Trading Up 0.4 %

Shares of NASDAQ:SHOO opened at $44.83 on Friday. Steven Madden has a 52 week low of $33.07 and a 52 week high of $50.01. The company’s 50 day moving average is $46.41 and its two-hundred day moving average is $44.25. The company has a market cap of $3.26 billion, a PE ratio of 19.08 and a beta of 1.08.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings data on Thursday, November 7th. The textile maker reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.02. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The company had revenue of $624.68 million for the quarter, compared to the consensus estimate of $607.89 million. During the same period in the prior year, the firm posted $0.88 EPS. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. As a group, equities research analysts expect that Steven Madden will post 2.65 EPS for the current year.

Steven Madden Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend is Friday, December 13th. Steven Madden’s dividend payout ratio (DPR) is presently 35.74%.

Institutional Trading of Steven Madden

Several hedge funds have recently made changes to their positions in the company. Texas Permanent School Fund Corp lifted its stake in shares of Steven Madden by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 61,378 shares of the textile maker’s stock valued at $2,595,000 after purchasing an additional 794 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Steven Madden in the first quarter valued at about $1,968,000. SG Americas Securities LLC raised its position in Steven Madden by 225.8% during the first quarter. SG Americas Securities LLC now owns 13,075 shares of the textile maker’s stock worth $553,000 after acquiring an additional 9,062 shares during the last quarter. ProShare Advisors LLC raised its position in Steven Madden by 5.8% during the first quarter. ProShare Advisors LLC now owns 14,817 shares of the textile maker’s stock worth $626,000 after acquiring an additional 807 shares during the last quarter. Finally, Edgestream Partners L.P. acquired a new position in Steven Madden during the first quarter worth about $5,834,000. 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.