Steven Madden (NASDAQ:SHOO) Shares Gap Up – Still a Buy?

Steven Madden, Ltd. (NASDAQ:SHOO) shares gapped up prior to trading on Monday . The stock had previously closed at $24.75, but opened at $25.75. Steven Madden shares last traded at $25.98, with a volume of 104,823 shares changing hands.

Analyst Ratings Changes

Several research firms have issued reports on SHOO. Loop Capital dropped their price target on Steven Madden from $40.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday, February 27th. Telsey Advisory Group reissued a “market perform” rating and issued a $24.00 price target on shares of Steven Madden in a research note on Wednesday, June 4th. UBS Group lifted their price target on Steven Madden from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. Citigroup dropped their price target on Steven Madden from $35.00 to $23.00 and set a “neutral” rating on the stock in a research note on Thursday, May 1st. Finally, Needham & Company LLC reissued a “hold” rating on shares of Steven Madden in a research note on Friday, May 2nd. Nine analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $28.50.

Steven Madden Stock Performance

The stock has a market cap of $1.90 billion, a price-to-earnings ratio of 11.10 and a beta of 1.12. The company has a 50-day simple moving average of $23.05 and a two-hundred day simple moving average of $32.74.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings results on Wednesday, May 7th. The textile maker reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.14. The firm had revenue of $551.38 million for the quarter, compared to analyst estimates of $557.81 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.65 EPS. As a group, sell-side analysts predict that Steven Madden, Ltd. will post 2.66 earnings per share for the current fiscal year.

Steven Madden Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Monday, June 9th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date of this dividend is Monday, June 9th. Steven Madden’s dividend payout ratio (DPR) is presently 36.21%.

Hedge Funds Weigh In On Steven Madden

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Steven Madden by 2.7% during the first quarter. Vanguard Group Inc. now owns 8,316,124 shares of the textile maker’s stock worth $221,542,000 after buying an additional 218,785 shares during the last quarter. Wellington Management Group LLP increased its position in Steven Madden by 1.8% during the first quarter. Wellington Management Group LLP now owns 4,802,603 shares of the textile maker’s stock worth $127,941,000 after buying an additional 84,570 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its position in Steven Madden by 4.5% during the first quarter. T. Rowe Price Investment Management Inc. now owns 2,452,407 shares of the textile maker’s stock worth $65,333,000 after buying an additional 106,028 shares during the last quarter. First Trust Advisors LP increased its position in Steven Madden by 36.9% during the fourth quarter. First Trust Advisors LP now owns 2,002,228 shares of the textile maker’s stock worth $85,135,000 after buying an additional 539,738 shares during the last quarter. Finally, Invesco Ltd. increased its position in Steven Madden by 8.6% during the fourth quarter. Invesco Ltd. now owns 1,745,456 shares of the textile maker’s stock worth $74,217,000 after buying an additional 138,065 shares during the last quarter. Institutional investors and hedge funds own 99.88% of the company’s stock.

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.