Steven Madden (NASDAQ:SHOO) Now Covered by Needham & Company LLC

Needham & Company LLC began coverage on shares of Steven Madden (NASDAQ:SHOO) in a research note released on Friday, MarketBeat Ratings reports. The firm issued a hold rating on the textile maker’s stock.

Several other analysts have also issued reports on SHOO. Wedbush restated a “neutral” rating and issued a $41.00 target price on shares of Steven Madden in a research note on Wednesday, August 7th. Telsey Advisory Group restated a “market perform” rating and issued a $50.00 target price on shares of Steven Madden in a research note on Wednesday, November 13th. StockNews.com upgraded Steven Madden from a “hold” rating to a “buy” rating in a research note on Saturday, November 16th. Citigroup boosted their target price on Steven Madden from $43.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Finally, Piper Sandler restated a “neutral” rating and issued a $45.00 target price on shares of Steven Madden in a research note on Friday, August 23rd. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Steven Madden currently has a consensus rating of “Hold” and a consensus target price of $45.43.

Steven Madden Trading Up 1.4 %

Shares of Steven Madden stock opened at $43.40 on Friday. The business’s fifty day simple moving average is $46.33 and its 200 day simple moving average is $44.37. The firm has a market capitalization of $3.13 billion, a P/E ratio of 18.47 and a beta of 1.08. Steven Madden has a 12 month low of $36.56 and a 12 month high of $50.01.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings results on Thursday, November 7th. The textile maker reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.02. The business had revenue of $624.68 million for the quarter, compared to analyst estimates of $607.89 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. Steven Madden’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period last year, the company posted $0.88 earnings per share. Analysts predict that Steven Madden will post 2.65 EPS for the current fiscal year.

Steven Madden Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.94%. The ex-dividend date is Friday, December 13th. Steven Madden’s dividend payout ratio (DPR) is presently 35.74%.

Hedge Funds Weigh In On Steven Madden

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SHOO. CANADA LIFE ASSURANCE Co grew its position in Steven Madden by 5.1% during the first quarter. CANADA LIFE ASSURANCE Co now owns 73,147 shares of the textile maker’s stock worth $3,089,000 after buying an additional 3,569 shares in the last quarter. EntryPoint Capital LLC bought a new stake in Steven Madden during the first quarter worth about $81,000. Magnetar Financial LLC bought a new stake in Steven Madden during the first quarter worth about $876,000. Price T Rowe Associates Inc. MD lifted its stake in Steven Madden by 6.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 134,309 shares of the textile maker’s stock worth $5,679,000 after purchasing an additional 7,547 shares during the last quarter. Finally, Jane Street Group LLC lifted its stake in Steven Madden by 36.9% during the first quarter. Jane Street Group LLC now owns 183,423 shares of the textile maker’s stock worth $7,755,000 after purchasing an additional 49,432 shares during the last quarter. 99.88% of the stock is currently 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.