Steven Madden, Ltd. (NASDAQ:SHOO) Stock Has Average Price Target of $52.20

Shares of Steven Madden, Ltd. (NASDAQ:SHOO) have been assigned a consensus recommendation of “Moderate Buy” from the ten brokerages that are currently covering the company, Marketbeat reports. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $51.70.

SHOO has been the topic of several analyst reports. UBS Group reiterated a “neutral” rating and issued a $45.00 price objective (up from $40.00) on shares of Steven Madden in a research note on Friday, July 31st. Needham & Company LLC cut their target price on Steven Madden from $52.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, November 5th. Wall Street Zen upgraded Steven Madden from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 17th. Zacks Research lowered Steven Madden from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Finally, Piper Sandler set a $55.00 price target on Steven Madden and gave the company an “overweight” rating in a research note on Wednesday, August 5th.

Institutional Investors Weigh In On Steven Madden

Several institutional investors and hedge funds have recently made changes to their positions in the company. EP Wealth Advisors LLC bought a new stake in shares of Steven Madden in the 3rd quarter worth about $224,000. Pathstone Holdings LLC increased its position in shares of Steven Madden by 7.4% during the 3rd quarter. Pathstone Holdings LLC now owns 14,724 shares of the textile maker’s stock worth $640,000 after purchasing an additional 1,016 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Steven Madden during the 3rd quarter worth about $2,393,000. State Board of Administration of Florida Retirement System lifted its holdings in Steven Madden by 5.1% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 22,591 shares of the textile maker’s stock valued at $1,011,000 after purchasing an additional 1,087 shares during the last quarter. Finally, PEAK6 LLC lifted its holdings in Steven Madden by 286.8% during the 3rd quarter. PEAK6 LLC now owns 45,279 shares of the textile maker’s stock valued at $2,027,000 after purchasing an additional 33,572 shares during the last quarter. Institutional investors and hedge funds own 99.88% of the company’s stock.

Steven Madden Stock Performance

Shares of NASDAQ SHOO traded up $0.82 during trading hours on Friday, reaching $42.00. The stock had a trading volume of 997,771 shares, compared to its average volume of 1,549,027. The business’s fifty day moving average is $43.66 and its two-hundred day moving average is $41.31. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.86 and a quick ratio of 1.12. The company has a market cap of $3.07 billion, a price-to-earnings ratio of 17.36 and a beta of 1.14. Steven Madden has a twelve month low of $31.33 and a twelve month high of $49.70.

Steven Madden (NASDAQ:SHOO) last issued its earnings results on Thursday, November 5th. The textile maker reported $0.79 EPS for the quarter, topping the consensus estimate of $0.73 by $0.06. The firm had revenue of $772.61 million during the quarter, compared to analysts’ expectations of $774.35 million. Steven Madden had a return on equity of 16.19% and a net margin of 6.16%. Steven Madden’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period last year, the business earned $0.43 earnings per share. As a group, research analysts expect that Steven Madden will post 2.20 EPS for the current year.

Steven Madden Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 24th. Shareholders of record on Friday, December 11th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, December 11th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.0%. Steven Madden’s dividend payout ratio (DPR) is presently 34.71%.

About Steven Madden

Steven Madden, Ltd. designs, sources and markets footwear, handbags, apparel and other fashion accessories. Its portfolio includes the Steve Madden brand as well as brands such as Dolce Vita and Betsey Johnson. The company sells through wholesale customers and its own retail and e-commerce channels, and also licenses its brands to third parties. Its business serves customers in the United States and international markets. Founded by Steve Madden in 1990, the company is headquartered in Long Island City, New York.