Brokerages Set Steven Madden, Ltd. (NASDAQ:SHOO) Target Price at $45.43

Steven Madden, Ltd. (NASDAQ:SHOO) has been given a consensus recommendation of “Hold” by the seven brokerages that are covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $46.33.

A number of analysts have weighed in on the stock. StockNews.com cut shares of Steven Madden from a “buy” rating to a “hold” rating in a research note on Friday, December 27th. Citigroup upped their target price on Steven Madden from $43.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Telsey Advisory Group reiterated a “market perform” rating and set a $50.00 price target on shares of Steven Madden in a report on Wednesday, November 13th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Steven Madden in a report on Thursday, December 5th.

Institutional Trading of Steven Madden

Hedge funds have recently modified their holdings of the stock. Gladius Capital Management LP acquired a new stake in Steven Madden in the third quarter worth $36,000. Exchange Traded Concepts LLC bought a new position in shares of Steven Madden during the 3rd quarter worth about $59,000. GAMMA Investing LLC boosted its position in shares of Steven Madden by 80.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,329 shares of the textile maker’s stock worth $65,000 after purchasing an additional 593 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Steven Madden by 94.1% in the 3rd quarter. Blue Trust Inc. now owns 1,619 shares of the textile maker’s stock valued at $79,000 after buying an additional 785 shares during the period. Finally, International Assets Investment Management LLC increased its position in Steven Madden by 4,800.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,911 shares of the textile maker’s stock valued at $94,000 after buying an additional 1,872 shares in the last quarter. Institutional investors own 99.88% of the company’s stock.

Steven Madden Stock Performance

Steven Madden stock opened at $41.91 on Thursday. The stock has a fifty day moving average of $43.88 and a 200-day moving average of $44.55. The stock has a market capitalization of $3.03 billion, a P/E ratio of 17.83 and a beta of 1.08. Steven Madden has a 52 week low of $37.99 and a 52 week high of $50.01.

Steven Madden (NASDAQ:SHOO) last issued its earnings results on Thursday, November 7th. The textile maker reported $0.91 EPS for the quarter, topping the consensus estimate of $0.89 by $0.02. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. The firm had revenue of $624.68 million during the quarter, compared to the consensus estimate of $607.89 million. During the same quarter in the previous year, the firm earned $0.88 earnings per share. The business’s quarterly revenue was up 13.0% on a year-over-year basis. On average, research analysts forecast that Steven Madden will post 2.66 earnings per share for the current year.

Steven Madden Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.84 annualized dividend and a yield of 2.00%. Steven Madden’s dividend payout ratio is currently 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.