Steven Madden, Ltd. (NASDAQ:SHOO) Receives $40.33 Consensus Target Price from Brokerages

Steven Madden, Ltd. (NASDAQ:SHOO) has been assigned a consensus rating of “Hold” from the eight research firms that are covering the stock, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $40.33.

SHOO has been the subject of several recent analyst reports. StockNews.com cut shares of Steven Madden from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Jefferies Financial Group reiterated a “hold” rating on shares of Steven Madden in a report on Monday, February 3rd. Loop Capital decreased their price objective 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. Piper Sandler decreased their price objective on shares of Steven Madden from $45.00 to $40.00 and set a “neutral” rating for the company in a report on Tuesday, February 4th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Steven Madden in a report on Thursday, February 27th.

Institutional Trading of Steven Madden

Large investors have recently added to or reduced their stakes in the business. FMR LLC boosted its stake in Steven Madden by 8,180.4% in the 3rd quarter. FMR LLC now owns 535,081 shares of the textile maker’s stock worth $26,214,000 after purchasing an additional 528,619 shares during the period. Geode Capital Management LLC boosted its stake in Steven Madden by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,710,492 shares of the textile maker’s stock worth $83,812,000 after purchasing an additional 49,075 shares during the period. Principal Financial Group Inc. boosted its stake in Steven Madden by 3.1% in the 4th quarter. Principal Financial Group Inc. now owns 381,196 shares of the textile maker’s stock worth $16,208,000 after purchasing an additional 11,602 shares during the period. Fisher Asset Management LLC boosted its stake in Steven Madden by 2.4% in the 4th quarter. Fisher Asset Management LLC now owns 745,798 shares of the textile maker’s stock worth $31,711,000 after purchasing an additional 17,124 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Steven Madden by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,122,680 shares of the textile maker’s stock worth $47,736,000 after purchasing an additional 25,903 shares during the period. 99.88% of the stock is currently owned by institutional investors.

Steven Madden Trading Up 1.9 %

Shares of NASDAQ:SHOO opened at $26.00 on Tuesday. The firm’s 50 day moving average is $35.91 and its two-hundred day moving average is $41.85. Steven Madden has a 52 week low of $24.97 and a 52 week high of $50.01. The firm has a market capitalization of $1.88 billion, a P/E ratio of 11.06 and a beta of 1.06.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings results on Wednesday, February 26th. The textile maker reported $0.55 EPS for the quarter, beating the consensus estimate of $0.53 by $0.02. The company had revenue of $582.32 million for the quarter, compared to analyst estimates of $550.37 million. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. Analysts predict that Steven Madden will post 2.66 EPS for the current year.

Steven Madden Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date is Monday, March 10th. Steven Madden’s payout ratio is 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.