Steven Madden, Ltd. (NASDAQ:SHOO) Receives Average Recommendation of “Hold” from Brokerages

Steven Madden, Ltd. (NASDAQ:SHOO) has earned an average rating of “Hold” from the seven ratings firms that are covering the company, Marketbeat reports. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $44.29.

SHOO has been the topic of a number of recent analyst reports. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $44.00 target price on shares of Steven Madden in a research report on Wednesday, July 31st. Piper Sandler reiterated a “neutral” rating and set a $45.00 price objective on shares of Steven Madden in a research note on Friday, August 23rd. BTIG Research boosted their target price on shares of Steven Madden from $50.00 to $53.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. StockNews.com cut shares of Steven Madden from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. Finally, Wedbush reissued a “neutral” rating and issued a $41.00 price objective on shares of Steven Madden in a report on Wednesday, August 7th.

Steven Madden Trading Down 0.3 %

Shares of SHOO stock opened at $43.84 on Friday. The firm has a fifty day simple moving average of $43.58 and a 200-day simple moving average of $42.55. The company has a market capitalization of $3.18 billion, a PE ratio of 18.12 and a beta of 1.08. Steven Madden has a twelve month low of $30.35 and a twelve month high of $47.24.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings data on Wednesday, July 31st. The textile maker reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.06. Steven Madden had a net margin of 8.36% and a return on equity of 23.49%. The company had revenue of $523.60 million during the quarter, compared to analysts’ expectations of $515.15 million. During the same period in the prior year, the company posted $0.47 EPS. The firm’s revenue for the quarter was up 17.6% on a year-over-year basis. Equities research analysts predict that Steven Madden will post 2.62 EPS for the current year.

Steven Madden Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Friday, September 13th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.84 annualized dividend and a yield of 1.92%. Steven Madden’s dividend payout ratio (DPR) is 34.71%.

Insider Buying and Selling at Steven Madden

In other news, Director Peter Migliorini sold 3,000 shares of the 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 sale, the director now directly owns 16,006 shares in the company, valued at approximately $701,222.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.08% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Steven Madden

Several large investors have recently added to or reduced their stakes in SHOO. Aristides Capital LLC bought a new position in shares of Steven Madden during the second quarter worth about $261,000. Creative Planning boosted its stake in Steven Madden by 78.7% during the 2nd quarter. Creative Planning now owns 10,791 shares of the textile maker’s stock valued at $456,000 after purchasing an additional 4,752 shares during the period. Algert Global LLC bought a new position in Steven Madden in the 2nd quarter worth about $299,000. Scientech Research LLC acquired a new stake in shares of Steven Madden in the second quarter valued at approximately $821,000. Finally, Mackenzie Financial Corp raised its holdings in shares of Steven Madden by 3.1% during the second quarter. Mackenzie Financial Corp now owns 8,232 shares of the textile maker’s stock valued at $348,000 after buying an additional 248 shares during the last quarter. 99.88% of the stock is owned by institutional investors and hedge funds.

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.