Steven Madden, Ltd. (NASDAQ:SHOO – Get Free Report) crossed above its 200-day moving average during trading on Monday after Jefferies Financial Group upgraded the stock from an underperform rating to a hold rating. The stock has a 200-day moving average of $41.37 and traded as high as $43.55. Jefferies Financial Group now has a $36.00 price target on the stock. Steven Madden shares last traded at $42.84, with a volume of 1,974,104 shares traded.
SHOO has been the subject of a number of other research reports. BMO Capital Markets began coverage on Steven Madden in a research report on Tuesday, September 8th. They issued an “outperform” rating and a $60.00 price objective for the company. Weiss Ratings lowered Steven Madden from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, October 30th. Wall Street Zen upgraded Steven Madden from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 17th. Williams Trading set a $56.00 price target on Steven Madden in a research note on Monday, August 3rd. Finally, Needham & Company LLC lowered their price target on Steven Madden from $52.00 to $45.00 and set a “buy” rating for the company in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Steven Madden has a consensus rating of “Moderate Buy” and an average price target of $51.70.
Check Out Our Latest Research Report on Steven Madden
Institutional Trading of Steven Madden
Several institutional investors and hedge funds have recently bought and sold shares of SHOO. Hantz Financial Services Inc. grew its stake in Steven Madden by 19.2% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,559 shares of the textile maker’s stock valued at $70,000 after acquiring an additional 251 shares during the period. GAMMA Investing LLC raised its position in Steven Madden by 2.6% during the second quarter. GAMMA Investing LLC now owns 9,984 shares of the textile maker’s stock worth $420,000 after acquiring an additional 257 shares during the period. Versant Capital Management Inc lifted its holdings in Steven Madden by 17.0% during the third quarter. Versant Capital Management Inc now owns 3,543 shares of the textile maker’s stock valued at $159,000 after purchasing an additional 516 shares in the last quarter. Abel Hall LLC lifted its holdings in Steven Madden by 9.2% during the third quarter. Abel Hall LLC now owns 6,320 shares of the textile maker’s stock valued at $283,000 after purchasing an additional 533 shares in the last quarter. Finally, Central Pacific Bank Trust Division lifted its holdings in Steven Madden by 16.6% during the third quarter. Central Pacific Bank Trust Division now owns 4,492 shares of the textile maker’s stock valued at $201,000 after purchasing an additional 640 shares in the last quarter. 99.88% of the stock is currently owned by institutional investors and hedge funds.
Steven Madden Trading Up 8.5%
The company has a quick ratio of 1.13, a current ratio of 1.91 and a debt-to-equity ratio of 0.13. The company’s 50-day moving average price is $43.67 and its 200-day moving average price is $41.37. The firm has a market cap of $3.14 billion, a price-to-earnings ratio of 17.70 and a beta of 1.14.
Steven Madden (NASDAQ:SHOO – Get Free Report) last posted its quarterly earnings data on Thursday, November 5th. The textile maker reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.06. Steven Madden had a return on equity of 13.85% and a net margin of 5.23%. The company had revenue of $772.61 million for the quarter, compared to analysts’ expectations of $774.35 million. During the same period in the previous year, the firm posted $0.43 EPS. Steven Madden’s revenue was up 15.0% compared to the same quarter last year. Equities analysts expect that Steven Madden, Ltd. will post 2.20 EPS for the current fiscal year.
Steven Madden Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 24th. Stockholders 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 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.
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