Insider Selling: Steven Madden, Ltd. (NASDAQ:SHOO) Director Sells $131,430.00 in Stock

Steven Madden, Ltd. (NASDAQ:SHOO) Director Peter Migliorini sold 3,000 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $43.81, for a total transaction of $131,430.00. Following the sale, the director now owns 16,006 shares in the company, valued at approximately $701,222.86. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Steven Madden Stock Performance

Shares of NASDAQ:SHOO opened at $43.71 on Friday. Steven Madden, Ltd. has a fifty-two week low of $30.35 and a fifty-two week high of $45.91. The business has a 50-day simple moving average of $41.58 and a two-hundred day simple moving average of $41.77. The firm has a market cap of $3.21 billion, a price-to-earnings ratio of 18.06 and a beta of 1.12.

Steven Madden (NASDAQ:SHOO) last issued its earnings results on Wednesday, May 1st. The textile maker reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.09. Steven Madden had a return on equity of 22.68% and a net margin of 8.65%. The business had revenue of $552.38 million during the quarter, compared to analyst estimates of $525.04 million. During the same quarter in the previous year, the firm earned $0.50 EPS. Steven Madden’s revenue was up 19.1% on a year-over-year basis. As a group, research analysts predict that Steven Madden, Ltd. will post 2.62 earnings per share for the current year.

Steven Madden Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Monday, June 10th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.92%. The ex-dividend date is Monday, June 10th. Steven Madden’s payout ratio is currently 34.71%.

Institutional Investors Weigh In On Steven Madden

Several hedge funds and other institutional investors have recently made changes to their positions in SHOO. New York State Common Retirement Fund increased its position in shares of Steven Madden by 2.1% during the 3rd quarter. New York State Common Retirement Fund now owns 72,572 shares of the textile maker’s stock valued at $2,306,000 after purchasing an additional 1,479 shares during the last quarter. Swiss National Bank increased its position in shares of Steven Madden by 1.0% during the 3rd quarter. Swiss National Bank now owns 158,725 shares of the textile maker’s stock valued at $5,043,000 after purchasing an additional 1,500 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Steven Madden by 1.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 998,061 shares of the textile maker’s stock valued at $31,708,000 after purchasing an additional 17,863 shares during the last quarter. Rhumbline Advisers increased its position in shares of Steven Madden by 0.5% during the 3rd quarter. Rhumbline Advisers now owns 232,540 shares of the textile maker’s stock valued at $7,388,000 after purchasing an additional 1,081 shares during the last quarter. Finally, Johnson Investment Counsel Inc. increased its position in shares of Steven Madden by 6.6% during the 3rd quarter. Johnson Investment Counsel Inc. now owns 50,116 shares of the textile maker’s stock valued at $1,592,000 after purchasing an additional 3,106 shares during the last quarter. Hedge funds and other institutional investors own 99.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SHOO. Wedbush restated a “neutral” rating and set a $41.00 target price on shares of Steven Madden in a report on Friday, May 17th. BTIG Research lifted their price target on Steven Madden from $50.00 to $53.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Citigroup lifted their price target on Steven Madden from $41.00 to $43.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $44.00 price target on shares of Steven Madden in a research report on Friday, April 26th. Finally, StockNews.com raised Steven Madden from a “hold” rating to a “buy” rating in a research report on Thursday, February 29th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $43.38.

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.