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

StockNews.com downgraded shares of Steven Madden (NASDAQ:SHOO) from a buy rating to a hold rating in a report issued on Sunday morning.

Several other analysts also recently weighed in on SHOO. Piper Sandler reiterated a “neutral” rating and issued a $45.00 price objective on shares of Steven Madden in a research report on Friday, August 23rd. Telsey Advisory Group reissued a “market perform” rating and set a $50.00 price target on shares of Steven Madden in a research report on Wednesday, November 13th. Wedbush restated a “neutral” rating and issued a $41.00 price objective on shares of Steven Madden in a research report on Wednesday, August 7th. Needham & Company LLC started coverage on shares of Steven Madden in a research note on Friday, November 22nd. They set a “hold” rating for the company. Finally, 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. Eight investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $45.43.

Steven Madden Stock Performance

Shares of Steven Madden stock opened at $44.16 on Friday. The stock has a market capitalization of $3.19 billion, a price-to-earnings ratio of 18.84 and a beta of 1.08. The company has a fifty day moving average of $46.28 and a 200-day moving average of $44.47. Steven Madden has a 52-week low of $36.56 and a 52-week high of $50.01.

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

Steven Madden Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a dividend of $0.21 per share. The ex-dividend date is Friday, December 13th. This represents a $0.84 annualized dividend and a dividend yield of 1.90%. Steven Madden’s dividend payout ratio is presently 35.74%.

Institutional Trading of Steven Madden

Hedge funds have recently modified their holdings of the business. CANADA LIFE ASSURANCE Co grew its holdings in Steven Madden by 5.1% in the first quarter. CANADA LIFE ASSURANCE Co now owns 73,147 shares of the textile maker’s stock worth $3,089,000 after purchasing an additional 3,569 shares during the period. Price T Rowe Associates Inc. MD raised 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 valued at $5,679,000 after buying an additional 7,547 shares during the last quarter. Jane Street Group LLC boosted its holdings in Steven Madden by 36.9% in the first quarter. Jane Street Group LLC now owns 183,423 shares of the textile maker’s stock worth $7,755,000 after acquiring an additional 49,432 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in shares of Steven Madden by 273.4% in the second quarter. Harbor Capital Advisors Inc. now owns 48,840 shares of the textile maker’s stock worth $2,066,000 after acquiring an additional 35,761 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in shares of Steven Madden by 61.1% in the 2nd quarter. SG Americas Securities LLC now owns 21,058 shares of the textile maker’s stock worth $891,000 after purchasing an additional 7,983 shares during the last quarter. Institutional investors 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.