Steven Madden (NASDAQ:SHOO) Hits New 1-Year High at $46.08

Steven Madden, Ltd. (NASDAQ:SHOO)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $46.08 and last traded at $46.07, with a volume of 131477 shares. The stock had previously closed at $44.46.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on SHOO shares. Telsey Advisory Group reissued a “market perform” rating and set a $44.00 price target on shares of Steven Madden in a research report on Wednesday. BTIG Research lifted their price objective on Steven Madden from $50.00 to $53.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $41.00 price objective on shares of Steven Madden in a research report on Friday, July 26th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Steven Madden has an average rating of “Hold” and a consensus price target of $43.38.

Steven Madden Stock Up 2.0 %

The company has a 50 day moving average of $43.49 and a 200 day moving average of $42.27. The firm has a market cap of $3.33 billion, a price-to-earnings ratio of 18.74 and a beta of 1.09.

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

Steven Madden Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Monday, June 10th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend was Monday, June 10th. Steven Madden’s dividend payout ratio is currently 34.71%.

Insider Activity at Steven Madden

In related news, Director Rose Peabody Lynch sold 1,600 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $44.41, for a total value of $71,056.00. Following the completion of the sale, the director now directly owns 21,303 shares of the company’s stock, valued at $946,066.23. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Peter Migliorini sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $43.81, for a total transaction of $131,430.00. Following the completion of the transaction, the director now directly owns 16,006 shares of the company’s stock, valued at $701,222.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Rose Peabody Lynch sold 1,600 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $44.41, for a total value of $71,056.00. Following the transaction, the director now directly owns 21,303 shares of the company’s stock, valued at $946,066.23. The disclosure for this sale can be found here. Insiders sold a total of 14,600 shares of company stock valued at $651,586 over the last three months. 2.08% of the stock is owned by insiders.

Hedge Funds Weigh In On Steven Madden

Several hedge funds and other institutional investors have recently made changes to their positions in SHOO. Raymond James & Associates boosted its position 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 worth $4,447,000 after buying an additional 4,136 shares during the period. International Assets Investment Management LLC boosted its position in shares of Steven Madden by 4,100.0% during the fourth quarter. International Assets Investment Management LLC now owns 1,638 shares of the textile maker’s stock worth $69,000 after buying an additional 1,599 shares during the period. Louisiana State Employees Retirement System acquired a new position in shares of Steven Madden during the fourth quarter worth approximately $1,474,000. Mackenzie Financial Corp acquired a new position in shares of Steven Madden during the fourth quarter worth approximately $207,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Steven Madden by 54.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,914 shares of the textile maker’s stock worth $1,088,000 after buying an additional 9,138 shares during the period. 99.88% of the stock is currently owned by institutional investors and hedge funds.

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.