Steven Madden (NASDAQ:SHOO) Receives “Hold” Rating from Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Steven Madden (NASDAQ:SHOO) in a research report sent to investors on Thursday morning,Benzinga reports.

A number of other research analysts also recently commented on the company. Telsey Advisory Group reduced their price target on Steven Madden from $50.00 to $44.00 and set a “market perform” rating for the company in a report on Tuesday. StockNews.com cut Steven Madden from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Citigroup decreased their price target on shares of Steven Madden from $45.00 to $38.00 and set a “neutral” rating for the company in a research report on Tuesday. Finally, Piper Sandler cut their price target on shares of Steven Madden from $45.00 to $40.00 and set a “neutral” rating on the stock in a report on Tuesday. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $43.33.

Steven Madden Price Performance

Shares of NASDAQ:SHOO opened at $37.60 on Thursday. The company has a 50 day moving average of $42.15 and a two-hundred day moving average of $44.12. Steven Madden has a 52-week low of $36.88 and a 52-week high of $50.01. The company has a market capitalization of $2.71 billion, a price-to-earnings ratio of 16.00 and a beta of 1.07.

Steven Madden (NASDAQ:SHOO) last released its quarterly 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. The firm had revenue of $624.68 million for the quarter, compared to the consensus estimate of $607.89 million. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The firm’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.88 EPS. On average, equities analysts anticipate that Steven Madden will post 2.66 earnings per share for the current year.

Steven Madden Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were paid a dividend of $0.21 per share. The ex-dividend date was Friday, December 13th. This represents a $0.84 annualized dividend and a yield of 2.23%. Steven Madden’s payout ratio is 35.74%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SHOO. Central Pacific Bank Trust Division grew its position in shares of Steven Madden by 7.4% during the 4th quarter. Central Pacific Bank Trust Division now owns 4,202 shares of the textile maker’s stock valued at $179,000 after buying an additional 290 shares during the last quarter. Blue Trust Inc. boosted its stake in Steven Madden by 20.9% in the fourth quarter. Blue Trust Inc. now owns 1,958 shares of the textile maker’s stock valued at $83,000 after acquiring an additional 339 shares during the period. Louisiana State Employees Retirement System grew its holdings in shares of Steven Madden by 1.2% during the third quarter. Louisiana State Employees Retirement System now owns 35,100 shares of the textile maker’s stock valued at $1,720,000 after purchasing an additional 400 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Steven Madden by 1.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,141 shares of the textile maker’s stock worth $1,698,000 after purchasing an additional 484 shares during the period. Finally, KBC Group NV lifted its holdings in shares of Steven Madden by 34.1% in the 3rd quarter. KBC Group NV now owns 2,208 shares of the textile maker’s stock worth $108,000 after purchasing an additional 561 shares during the last quarter. 99.88% of the stock is currently owned by institutional investors.

About Steven Madden

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.