Steven Madden, Ltd. (NASDAQ:SHOO) Receives Consensus Rating of “Hold” from Analysts

Shares of Steven Madden, Ltd. (NASDAQ:SHOO) have received an average rating of “Hold” from the eight analysts that are presently covering the company, MarketBeat.com reports. Seven analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $37.83.

Several equities research analysts have commented on SHOO shares. Piper Sandler cut their target price on Steven Madden from $35.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Citigroup reduced their target price on shares of Steven Madden from $38.00 to $35.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. StockNews.com downgraded shares of Steven Madden from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Jefferies Financial Group reissued a “hold” rating on shares of Steven Madden in a research report on Monday, February 3rd. Finally, Needham & Company LLC restated a “hold” rating on shares of Steven Madden in a report on Thursday, February 27th.

Steven Madden Price Performance

Shares of Steven Madden stock opened at $19.54 on Friday. The company has a market capitalization of $1.41 billion, a P/E ratio of 8.31 and a beta of 0.98. The business has a 50-day moving average of $28.95 and a two-hundred day moving average of $38.67. Steven Madden has a 1 year low of $19.05 and a 1 year high of $50.01.

Steven Madden (NASDAQ:SHOO) last posted 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. The business had revenue of $582.32 million during the quarter, compared to analysts’ expectations of $550.37 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. On average, equities analysts anticipate that Steven Madden will post 2.66 EPS for the current fiscal year.

Steven Madden Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were paid a $0.21 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.84 annualized dividend and a yield of 4.30%. Steven Madden’s dividend payout ratio is 35.74%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SHOO. CX Institutional bought a new position in Steven Madden during the first quarter worth $32,000. R Squared Ltd acquired a new stake in shares of Steven Madden during the 4th quarter worth about $55,000. Quarry LP boosted its holdings in shares of Steven Madden by 403.6% during the 4th quarter. Quarry LP now owns 1,385 shares of the textile maker’s stock worth $59,000 after buying an additional 1,110 shares during the period. Blue Trust Inc. grew its stake in Steven Madden by 20.9% in the 4th quarter. Blue Trust Inc. now owns 1,958 shares of the textile maker’s stock valued at $83,000 after buying an additional 339 shares during the last quarter. Finally, KBC Group NV raised its holdings in Steven Madden by 36.5% in the 4th quarter. KBC Group NV now owns 3,013 shares of the textile maker’s stock valued at $128,000 after acquiring an additional 805 shares during the period. 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.