Steven Madden, Ltd. (NASDAQ:SHOO) Receives $41.38 Consensus PT from Analysts

Steven Madden, Ltd. (NASDAQ:SHOO) has been given a consensus rating of “Hold” by the seven ratings firms that are covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $41.38.

SHOO has been the subject of a number of recent analyst reports. StockNews.com raised Steven Madden from a “hold” rating to a “buy” rating in a report on Thursday, February 29th. Citigroup lifted their price target on Steven Madden from $41.00 to $43.00 and gave the stock a “neutral” rating in a research note on Thursday, February 29th. Wedbush lifted their price target on Steven Madden from $36.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 7th. Piper Sandler began coverage on Steven Madden in a research note on Wednesday, February 14th. They set a “neutral” rating and a $45.00 price target for the company. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $40.00 price target on shares of Steven Madden in a research note on Thursday, January 4th.

Insider Buying and Selling

In related news, CEO Edward R. Rosenfeld sold 48,500 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $41.49, for a total value of $2,012,265.00. Following the sale, the chief executive officer now owns 697,038 shares of the company’s stock, valued at approximately $28,920,106.62. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Lisa Keith sold 2,400 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $41.73, for a total value of $100,152.00. Following the sale, the executive vice president now owns 20,687 shares of the company’s stock, valued at approximately $863,268.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Edward R. Rosenfeld sold 48,500 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $41.49, for a total value of $2,012,265.00. Following the completion of the sale, the chief executive officer now directly owns 697,038 shares in the company, valued at approximately $28,920,106.62. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,346 shares of company stock valued at $2,464,841. Insiders own 2.08% of the company’s stock.

Hedge Funds Weigh In On Steven Madden

Hedge funds have recently modified their holdings of the stock. Pacer Advisors Inc. grew its holdings in shares of Steven Madden by 30.7% during the fourth quarter. Pacer Advisors Inc. now owns 1,469,956 shares of the textile maker’s stock valued at $61,738,000 after buying an additional 345,558 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Steven Madden by 1.0% during the third quarter. Vanguard Group Inc. now owns 8,329,605 shares of the textile maker’s stock valued at $264,632,000 after buying an additional 80,199 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Steven Madden by 1.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,365 shares of the textile maker’s stock valued at $1,092,000 after buying an additional 482 shares in the last quarter. Raymond James & Associates grew its holdings in shares of Steven Madden by 4.1% during the fourth quarter. Raymond James & Associates now owns 105,879 shares of the textile maker’s stock valued at $4,447,000 after buying an additional 4,136 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Steven Madden by 5.3% during the third quarter. Wellington Management Group LLP now owns 6,264,768 shares of the textile maker’s stock valued at $199,032,000 after buying an additional 316,676 shares in the last quarter. 99.88% of the stock is currently owned by institutional investors and hedge funds.

Steven Madden Trading Down 2.4 %

Shares of SHOO opened at $39.42 on Friday. The firm has a market cap of $2.89 billion, a PE ratio of 17.18 and a beta of 1.16. The company’s 50 day simple moving average is $41.30 and its 200-day simple moving average is $39.96. Steven Madden has a 12-month low of $29.92 and a 12-month high of $45.63.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings results on Wednesday, February 28th. The textile maker reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.05. Steven Madden had a return on equity of 21.61% and a net margin of 8.67%. The firm had revenue of $519.71 million during the quarter, compared to the consensus estimate of $511.96 million. During the same period last year, the company earned $0.44 earnings per share. The company’s revenue for the quarter was up 10.4% on a year-over-year basis. As a group, equities research analysts forecast that Steven Madden will post 2.61 EPS for the current fiscal year.

Steven Madden Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were given a $0.21 dividend. The ex-dividend date was Thursday, March 7th. This represents a $0.84 annualized dividend and a dividend yield of 2.13%. Steven Madden’s payout ratio is 36.52%.

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.