Steven Madden, Ltd. (NASDAQ:SHOO) Receives $45.43 Consensus PT from Analysts

Steven Madden, Ltd. (NASDAQ:SHOO) has received a consensus recommendation of “Hold” from the eight ratings firms that are presently covering the stock, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $45.43.

Several research analysts recently weighed in on the company. 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 reiterated a “market perform” rating and set a $50.00 price target on shares of Steven Madden in a report on Wednesday, November 13th. Needham & Company LLC reissued a “hold” rating on shares of Steven Madden in a research report on Thursday, December 5th. Citigroup upped their target price on shares of Steven Madden from $43.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Finally, StockNews.com cut shares of Steven Madden from a “buy” rating to a “hold” rating in a research report on Sunday, November 24th.

Steven Madden Trading Down 0.7 %

Shares of SHOO stock opened at $43.52 on Friday. Steven Madden has a twelve month low of $37.99 and a twelve month high of $50.01. The company’s 50-day moving average price is $45.55 and its 200-day moving average price is $44.70. The stock has a market cap of $3.14 billion, a price-to-earnings ratio of 18.52 and a beta of 1.07.

Steven Madden (NASDAQ:SHOO) last issued its 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. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The company had revenue of $624.68 million for the quarter, compared to the consensus estimate of $607.89 million. During the same period in the previous year, the firm earned $0.88 earnings per share. Steven Madden’s quarterly revenue was up 13.0% compared to the same quarter last year. As a group, equities research analysts predict that Steven Madden will post 2.66 EPS for the current year.

Steven Madden Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.93%. The ex-dividend date is Friday, December 13th. Steven Madden’s dividend payout ratio is currently 35.74%.

Institutional Trading of Steven Madden

Several hedge funds have recently made changes to their positions in SHOO. Tidal Investments LLC grew its stake in shares of Steven Madden by 15.1% in the third quarter. Tidal Investments LLC now owns 17,375 shares of the textile maker’s stock worth $851,000 after acquiring an additional 2,278 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Steven Madden by 3.0% in the third quarter. Geode Capital Management LLC now owns 1,710,492 shares of the textile maker’s stock valued at $83,812,000 after purchasing an additional 49,075 shares during the period. Barclays PLC grew its stake in Steven Madden by 286.9% during the 3rd quarter. Barclays PLC now owns 139,206 shares of the textile maker’s stock worth $6,819,000 after purchasing an additional 103,226 shares in the last quarter. Weiss Asset Management LP acquired a new position in shares of Steven Madden during the third quarter worth about $12,558,000. Finally, State Street Corp grew its holdings in Steven Madden by 1.7% during the 3rd quarter. State Street Corp now owns 2,756,075 shares of the textile maker’s stock worth $135,020,000 after acquiring an additional 47,017 shares in the last quarter. Institutional investors and hedge funds own 99.88% of the company’s stock.

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.