Steven Madden, Ltd. (NASDAQ:SHOO) Receives $45.43 Consensus Target Price from Brokerages

Steven Madden, Ltd. (NASDAQ:SHOO) has been given a consensus rating of “Hold” by the seven brokerages that are presently covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $45.43.

SHOO has been the subject of several recent analyst reports. Piper Sandler reaffirmed a “neutral” rating and set a $45.00 target price on shares of Steven Madden in a research note on Friday, August 23rd. Citigroup raised their target price on Steven Madden from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. StockNews.com cut Steven Madden from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Wedbush reissued a “neutral” rating and issued a $41.00 price objective on shares of Steven Madden in a research note on Wednesday, August 7th. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $50.00 price objective on shares of Steven Madden in a research note on Wednesday.

Institutional Trading of Steven Madden

A number of hedge funds have recently bought and sold shares of SHOO. Mackenzie Financial Corp increased its position in Steven Madden by 3.1% in the second quarter. Mackenzie Financial Corp now owns 8,232 shares of the textile maker’s stock worth $348,000 after buying an additional 248 shares during the last quarter. Louisiana State Employees Retirement System increased its position in Steven Madden by 1.2% in the third quarter. Louisiana State Employees Retirement System now owns 35,100 shares of the textile maker’s stock worth $1,720,000 after buying an additional 400 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Steven Madden by 1.2% in the second quarter. The Manufacturers Life Insurance Company now owns 40,141 shares of the textile maker’s stock worth $1,698,000 after buying an additional 484 shares during the last quarter. AlphaMark Advisors LLC increased its position in Steven Madden by 7.4% in the second quarter. AlphaMark Advisors LLC now owns 7,785 shares of the textile maker’s stock worth $329,000 after buying an additional 535 shares during the last quarter. Finally, KBC Group NV increased its position in Steven Madden by 34.1% in the third quarter. KBC Group NV now owns 2,208 shares of the textile maker’s stock worth $108,000 after buying an additional 561 shares during the last quarter. 99.88% of the stock is currently owned by institutional investors.

Steven Madden Trading Down 1.6 %

NASDAQ SHOO opened at $43.23 on Wednesday. The business’s 50-day moving average price is $46.43 and its two-hundred day moving average price is $44.30. Steven Madden has a 12 month low of $35.64 and a 12 month high of $50.01. The firm has a market capitalization of $3.12 billion, a PE ratio of 18.40 and a beta of 1.08.

Steven Madden (NASDAQ:SHOO) last released its quarterly earnings results 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 return on equity of 23.41% and a net margin of 7.68%. The firm had revenue of $624.68 million for the quarter, compared to analyst estimates of $607.89 million. During the same quarter in the previous year, the company posted $0.88 EPS. The business’s revenue was up 13.0% on a year-over-year basis. As a group, analysts forecast that Steven Madden will post 2.65 earnings per share for the current fiscal year.

Steven Madden Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.94%. 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.