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

Steven Madden, Ltd. (NASDAQ:SHOO) has been assigned an average recommendation of “Hold” from the eight analysts that are covering the stock, Marketbeat reports. Eight investment analysts have rated the stock with a hold rating. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $28.50.

A number of research firms have commented on SHOO. Needham & Company LLC reaffirmed a “hold” rating on shares of Steven Madden in a research report on Friday, May 2nd. Piper Sandler decreased their target price on Steven Madden from $35.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Telsey Advisory Group reaffirmed 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 boosted their price objective on shares of Steven Madden from $22.00 to $23.00 and gave the company a “neutral” rating in a research report on Thursday, May 8th. Finally, Citigroup decreased their price objective on shares of Steven Madden from $35.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, May 1st.

Steven Madden Stock Up 3.3%

Shares of SHOO opened at $26.04 on Thursday. The stock has a market capitalization of $1.89 billion, a P/E ratio of 11.22 and a beta of 1.10. Steven Madden has a twelve month low of $19.05 and a twelve month high of $50.01. The firm has a fifty day simple moving average of $24.05 and a two-hundred day simple moving average of $30.37.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings data on Wednesday, May 7th. The textile maker reported $0.60 EPS for the quarter, beating the consensus estimate of $0.46 by $0.14. The firm had revenue of $551.38 million during the quarter, compared to the consensus estimate of $557.81 million. Steven Madden had a net margin of 7.26% and a return on equity of 21.63%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.65 earnings per share. Sell-side analysts expect that Steven Madden will post 2.66 EPS for the current fiscal year.

Steven Madden Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Monday, June 9th were issued a $0.21 dividend. The ex-dividend date was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 3.23%. Steven Madden’s dividend payout ratio (DPR) is 36.21%.

Institutional Trading of Steven Madden

Hedge funds have recently modified their holdings of the business. CX Institutional purchased a new position in Steven Madden during the 1st quarter valued at about $32,000. Caitong International Asset Management Co. Ltd increased its stake in shares of Steven Madden by 328.8% during the first quarter. Caitong International Asset Management Co. Ltd now owns 2,161 shares of the textile maker’s stock valued at $58,000 after purchasing an additional 1,657 shares in the last quarter. Quarry LP lifted its holdings in shares of Steven Madden by 403.6% during the fourth quarter. Quarry LP now owns 1,385 shares of the textile maker’s stock valued at $59,000 after purchasing an additional 1,110 shares during the last quarter. CWM LLC lifted its holdings in shares of Steven Madden by 231.0% during the first quarter. CWM LLC now owns 2,277 shares of the textile maker’s stock valued at $61,000 after purchasing an additional 1,589 shares during the last quarter. Finally, Covestor Ltd boosted its position in shares of Steven Madden by 22.9% in the 1st quarter. Covestor Ltd now owns 4,906 shares of the textile maker’s stock worth $130,000 after purchasing an additional 915 shares in the last quarter. Institutional investors 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.