Brokerages Set Steven Madden, Ltd. (NASDAQ:SHOO) Price Target at $44.00

Shares of Steven Madden, Ltd. (NASDAQ:SHOO) have been assigned a consensus rating of “Hold” from the nine analysts that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $44.00.

A number of equities research analysts have recently issued reports on the company. Williams Trading set a $48.00 price objective on Steven Madden in a research note on Tuesday, March 10th. Jefferies Financial Group cut shares of Steven Madden from a “hold” rating to an “underperform” rating and set a $30.00 target price for the company. in a research note on Thursday, February 5th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $50.00 price target on shares of Steven Madden in a research report on Thursday, February 26th. Weiss Ratings reiterated a “hold (c)” rating on shares of Steven Madden in a research note on Thursday, January 22nd. Finally, Needham & Company LLC decreased their price objective on shares of Steven Madden from $50.00 to $41.00 and set a “buy” rating for the company in a research report on Wednesday, February 25th.

Steven Madden Price Performance

Shares of NASDAQ SHOO opened at $34.06 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.90 and a quick ratio of 1.11. The business has a 50-day moving average of $37.05 and a 200-day moving average of $38.24. The stock has a market capitalization of $2.48 billion, a price-to-earnings ratio of 54.94 and a beta of 1.13. Steven Madden has a fifty-two week low of $19.05 and a fifty-two week high of $46.88.

Steven Madden (NASDAQ:SHOO) last released its earnings results on Wednesday, February 25th. The textile maker reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.02. The business had revenue of $753.70 million for the quarter, compared to analyst estimates of $758.53 million. Steven Madden had a return on equity of 13.60% and a net margin of 1.76%.Steven Madden’s revenue was up 29.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.55 earnings per share. As a group, sell-side analysts predict that Steven Madden will post 2.66 earnings per share for the current fiscal year.

Steven Madden Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 20th. Investors of record on Wednesday, March 11th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.5%. The ex-dividend date was Wednesday, March 11th. Steven Madden’s dividend payout ratio (DPR) is 135.48%.

Insider Buying and Selling

In other Steven Madden news, Director Arian Simone Reed sold 3,600 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $33.44, for a total transaction of $120,384.00. Following the transaction, the director owned 8,705 shares of the company’s stock, valued at $291,095.20. The trade was a 29.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.22% of the company’s stock.

Institutional Trading of Steven Madden

A number of hedge funds have recently made changes to their positions in SHOO. Scopus Asset Management L.P. acquired a new position in shares of Steven Madden during the 3rd quarter worth approximately $36,451,000. Boston Partners acquired a new stake in Steven Madden during the 3rd quarter valued at $33,319,000. Invesco Ltd. boosted its position in Steven Madden by 50.5% during the second quarter. Invesco Ltd. now owns 2,426,926 shares of the textile maker’s stock worth $58,198,000 after purchasing an additional 814,318 shares during the period. Neumeier Poma Investment Counsel LLC increased its holdings in shares of Steven Madden by 155.9% in the third quarter. Neumeier Poma Investment Counsel LLC now owns 955,010 shares of the textile maker’s stock valued at $31,974,000 after purchasing an additional 581,745 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Steven Madden by 1,170.4% in the first quarter. Millennium Management LLC now owns 617,049 shares of the textile maker’s stock valued at $16,438,000 after purchasing an additional 568,477 shares during the last quarter. 99.88% of the stock is owned by institutional investors and hedge funds.

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.