Steven Madden, Ltd. (NASDAQ:SHOO) Given Average Recommendation of “Hold” by Brokerages

Steven Madden, Ltd. (NASDAQ:SHOO) has been assigned an average rating of “Hold” from the eight ratings firms that are presently covering the stock, Marketbeat reports. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $40.33.

Several research firms recently weighed in on SHOO. Piper Sandler dropped their price objective on Steven Madden from $45.00 to $40.00 and set a “neutral” rating for the company in a research note on Tuesday, February 4th. Needham & Company LLC restated a “hold” rating on shares of Steven Madden in a research report on Thursday, February 27th. Citigroup decreased their price objective on shares of Steven Madden from $38.00 to $35.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Loop Capital dropped their target price on shares of Steven Madden from $40.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, February 27th. Finally, StockNews.com downgraded shares of Steven Madden from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th.

Institutional Trading of Steven Madden

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

Steven Madden Stock Performance

Steven Madden stock opened at $27.43 on Tuesday. The company has a market cap of $1.99 billion, a P/E ratio of 11.67 and a beta of 1.06. Steven Madden has a one year low of $24.56 and a one year high of $50.01. The business has a fifty day moving average of $35.34 and a two-hundred day moving average of $41.56.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings data on Wednesday, February 26th. The textile maker reported $0.55 EPS for the quarter, beating the consensus estimate of $0.53 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 $582.32 million during the quarter, compared to analysts’ expectations of $550.37 million. Sell-side analysts predict that Steven Madden will post 2.66 EPS for the current year.

Steven Madden Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date was Monday, March 10th. Steven Madden’s dividend payout ratio is presently 35.74%.

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.