Steven Madden (NASDAQ:SHOO) Lowered to Hold Rating by StockNews.com

StockNews.com lowered shares of Steven Madden (NASDAQ:SHOO) from a buy rating to a hold rating in a report published on Sunday.

Other equities research analysts have also issued reports about the stock. Wedbush reissued a “neutral” rating and set a $41.00 target price on shares of Steven Madden in a research note on Wednesday, August 7th. Citigroup raised their price target on shares of Steven Madden from $43.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $50.00 price target on shares of Steven Madden in a research note on Wednesday, November 13th. Piper Sandler reaffirmed a “neutral” rating and issued a $45.00 price target on shares of Steven Madden in a research note on Friday, August 23rd. Finally, Needham & Company LLC began coverage on shares of Steven Madden in a research note on Friday. They issued a “hold” rating on the stock. Eight equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $45.43.

Steven Madden Stock Performance

Shares of SHOO opened at $43.40 on Friday. The business’s 50-day moving average is $46.29 and its two-hundred day moving average is $44.44. The company has a market capitalization of $3.13 billion, a P/E ratio of 18.47 and a beta of 1.08. Steven Madden has a fifty-two week low of $36.56 and a fifty-two week high of $50.01.

Steven Madden (NASDAQ:SHOO) last posted its earnings results on Thursday, November 7th. The textile maker reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.02. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The business had revenue of $624.68 million for the quarter, compared to analyst estimates of $607.89 million. During the same period in the prior year, the company posted $0.88 EPS. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. Analysts forecast that Steven Madden will post 2.65 EPS for the current year.

Steven Madden Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.84 dividend on an annualized basis and a yield of 1.94%. Steven Madden’s payout ratio is 35.74%.

Institutional Trading of Steven Madden

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC increased its holdings in shares of Steven Madden by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,710,492 shares of the textile maker’s stock worth $83,812,000 after buying an additional 49,075 shares during the last quarter. Barclays PLC increased its holdings in shares of Steven Madden by 286.9% during the 3rd quarter. Barclays PLC now owns 139,206 shares of the textile maker’s stock worth $6,819,000 after buying an additional 103,226 shares during the last quarter. Weiss Asset Management LP acquired a new stake in shares of Steven Madden during the 3rd quarter worth approximately $12,558,000. State Street Corp increased its holdings in shares of Steven Madden by 1.7% during the 3rd quarter. State Street Corp now owns 2,756,075 shares of the textile maker’s stock worth $135,020,000 after buying an additional 47,017 shares during the last quarter. Finally, Systematic Financial Management LP increased its holdings in shares of Steven Madden by 15.9% during the 3rd quarter. Systematic Financial Management LP now owns 439,126 shares of the textile maker’s stock worth $21,513,000 after buying an additional 60,276 shares during the last quarter. Institutional investors and hedge funds 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.