Steven Madden, Ltd. (NASDAQ:SHOO) Receives $40.33 Average Price Target from Brokerages

Shares of Steven Madden, Ltd. (NASDAQ:SHOO) have been given an average recommendation of “Hold” by the eight ratings firms that are covering the company, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $40.33.

A number of equities research analysts have commented on the company. Loop Capital reduced their price target on Steven Madden from $40.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, February 27th. StockNews.com lowered Steven Madden from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Citigroup cut their price target on Steven Madden from $38.00 to $35.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. Jefferies Financial Group reissued a “hold” rating on shares of Steven Madden in a research note on Monday, February 3rd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Steven Madden in a research note on Thursday, February 27th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of SHOO. KBC Group NV lifted its stake in Steven Madden by 34.1% in the third quarter. KBC Group NV now owns 2,208 shares of the textile maker’s stock worth $108,000 after acquiring an additional 561 shares during the period. Natixis Advisors LLC increased its stake in shares of Steven Madden by 2.9% during the third quarter. Natixis Advisors LLC now owns 40,735 shares of the textile maker’s stock valued at $1,996,000 after purchasing an additional 1,155 shares in the last quarter. Swiss National Bank increased its stake in shares of Steven Madden by 3.6% during the third quarter. Swiss National Bank now owns 143,325 shares of the textile maker’s stock valued at $7,021,000 after purchasing an additional 5,000 shares in the last quarter. Quest Partners LLC bought a new position in shares of Steven Madden during the third quarter valued at approximately $410,000. Finally, Intech Investment Management LLC increased its stake in shares of Steven Madden by 211.8% during the third quarter. Intech Investment Management LLC now owns 24,663 shares of the textile maker’s stock valued at $1,208,000 after purchasing an additional 16,754 shares in the last quarter. 99.88% of the stock is currently owned by institutional investors.

Steven Madden Stock Performance

Steven Madden stock opened at $25.03 on Tuesday. Steven Madden has a 52 week low of $24.56 and a 52 week high of $50.01. The stock has a market capitalization of $1.81 billion, a P/E ratio of 10.65 and a beta of 1.06. The stock has a fifty day moving average of $35.59 and a 200-day moving average of $41.69.

Steven Madden (NASDAQ:SHOO) last issued its earnings results on Wednesday, February 26th. The textile maker reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. The business had revenue of $582.32 million during the quarter, compared to analysts’ expectations of $550.37 million. On average, research analysts forecast that Steven Madden will post 2.66 earnings per share for the current year.

Steven Madden Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date was Monday, March 10th. Steven Madden’s payout ratio is currently 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.