Analysts Set Steven Madden, Ltd. (NASDAQ:SHOO) Price Target at $45.43

Shares of Steven Madden, Ltd. (NASDAQ:SHOO) have been assigned a consensus recommendation of “Hold” from the eight research firms that are presently covering the stock, MarketBeat reports. Seven investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $45.43.

A number of research firms recently commented on SHOO. Citigroup boosted their target price on shares of Steven Madden from $43.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Needham & Company LLC reissued a “hold” rating on shares of Steven Madden in a research report on Thursday, December 5th. Telsey Advisory Group reissued a “market perform” rating and issued a $50.00 target price on shares of Steven Madden in a research report on Wednesday, November 13th. StockNews.com downgraded shares of Steven Madden from a “buy” rating to a “hold” rating in a research report on Sunday, November 24th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $45.00 price objective on shares of Steven Madden in a research report on Friday, August 23rd.

Institutional Trading of Steven Madden

Several large investors have recently added to or reduced their stakes in SHOO. Blue Trust Inc. grew its position in Steven Madden by 9,166.7% in the second quarter. Blue Trust Inc. now owns 834 shares of the textile maker’s stock worth $35,000 after acquiring an additional 825 shares in the last quarter. Gladius Capital Management LP bought a new stake in Steven Madden in the third quarter worth approximately $36,000. Exchange Traded Concepts LLC bought a new stake in Steven Madden in the third quarter worth approximately $59,000. GAMMA Investing LLC grew its position in Steven Madden by 80.6% in the third quarter. GAMMA Investing LLC now owns 1,329 shares of the textile maker’s stock worth $65,000 after acquiring an additional 593 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its stake in shares of Steven Madden by 4,800.0% in the third quarter. International Assets Investment Management LLC now owns 1,911 shares of the textile maker’s stock worth $94,000 after buying an additional 1,872 shares during the last quarter. 99.88% of the stock is owned by institutional investors.

Steven Madden Price Performance

NASDAQ SHOO opened at $43.73 on Friday. The company’s 50 day simple moving average is $45.36 and its 200 day simple moving average is $44.69. Steven Madden has a 12 month low of $37.99 and a 12 month high of $50.01. The company has a market capitalization of $3.16 billion, a P/E ratio of 18.61 and a beta of 1.07.

Steven Madden (NASDAQ:SHOO) last released its earnings results on Thursday, November 7th. The textile maker reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.02. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The business had revenue of $624.68 million for the quarter, compared to the consensus estimate of $607.89 million. During the same period in the previous year, the firm earned $0.88 EPS. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. On average, analysts anticipate that Steven Madden will post 2.66 earnings per share for the current year.

Steven Madden Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend is Friday, December 13th. Steven Madden’s dividend 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.