Steven Madden (NASDAQ:SHOO) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Steven Madden (NASDAQ:SHOO) from a hold rating to a strong-buy rating in a research report released on Monday morning,Zacks.com reports.

Several other equities research analysts have also weighed in on the company. UBS Group restated a “neutral” rating and set a $40.00 price target (up from $38.00) on shares of Steven Madden in a research report on Monday, April 27th. BTIG Research reiterated a “buy” rating and set a $50.00 price target on shares of Steven Madden in a report on Thursday, June 4th. Needham & Company LLC increased their price objective on Steven Madden from $45.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, June 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Steven Madden in a research report on Tuesday, April 21st. Finally, Williams Trading set a $48.00 price target on Steven Madden in a research note on Tuesday, March 10th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Steven Madden has a consensus rating of “Moderate Buy” and an average target price of $45.12.

Steven Madden Stock Up 0.5%

NASDAQ SHOO opened at $39.89 on Monday. Steven Madden has a 1 year low of $22.26 and a 1 year high of $47.10. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.23 and a quick ratio of 1.42. The business’s 50-day moving average is $41.66 and its 200 day moving average is $39.94. The stock has a market capitalization of $2.92 billion, a PE ratio of 37.99 and a beta of 1.15.

Steven Madden (NASDAQ:SHOO) last posted its earnings results on Wednesday, May 6th. The textile maker reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.03. The firm had revenue of $653.10 million for the quarter, compared to analysts’ expectations of $646.64 million. Steven Madden had a return on equity of 12.29% and a net margin of 2.89%.The business’s revenue was up 18.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.60 earnings per share. Steven Madden has set its FY 2026 guidance at 2.000-2.100 EPS. Sell-side analysts forecast that Steven Madden will post 2.09 earnings per share for the current year.

Steven Madden Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 19th. Investors of record on Monday, June 8th were given a dividend of $0.21 per share. The ex-dividend date was Monday, June 8th. This represents a $0.84 annualized dividend and a dividend yield of 2.1%. Steven Madden’s dividend payout ratio (DPR) is currently 80.00%.

Insider Buying and Selling

In other news, insider Christina Ciglar sold 5,147 shares of Steven Madden stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $44.74, for a total value of $230,276.78. Following the sale, the insider directly owned 35,200 shares of the company’s stock, valued at approximately $1,574,848. The trade was a 12.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Arian Simone Reed sold 648 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $39.97, for a total value of $25,900.56. Following the sale, the director directly owned 8,057 shares in the company, valued at $322,038.29. This trade represents a 7.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 6,270 shares of company stock valued at $276,992. Insiders own 2.21% of the company’s stock.

Institutional Investors Weigh In On Steven Madden

Large investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC bought a new position in shares of Steven Madden during the 1st quarter valued at approximately $752,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Steven Madden by 3.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,919 shares of the textile maker’s stock worth $1,143,000 after purchasing an additional 1,437 shares during the period. Millennium Management LLC increased its stake in shares of Steven Madden by 1,170.4% during the first quarter. Millennium Management LLC now owns 617,049 shares of the textile maker’s stock valued at $16,438,000 after buying an additional 568,477 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Steven Madden by 5.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 202,270 shares of the textile maker’s stock valued at $5,388,000 after purchasing an additional 10,603 shares during the period. Finally, Jane Street Group LLC raised its stake in Steven Madden by 273.1% in the first quarter. Jane Street Group LLC now owns 157,492 shares of the textile maker’s stock worth $4,196,000 after buying an additional 115,284 shares in the last quarter. 99.88% of the stock is owned by institutional investors.

Steven Madden Company Profile

Steven Madden, Inc (NASDAQ: SHOO) is a New York–based designer and marketer of fashion footwear, handbags and accessories. The company’s product portfolio spans a range of contemporary and lifestyle brands for women, men and children, including its core Steve Madden label as well as the Madden Girl and Dolce Vita brands. In addition to footwear, the company licenses its trademarks for use on apparel, eyewear and other fashion accessories.

Steven Madden distributes its products through multiple channels, including wholesale partners, e-commerce platforms and its own brick-and-mortar retail stores.