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

Steven Madden (NASDAQ:SHOO)‘s stock had its “hold” rating reaffirmed by equities research analysts at Needham & Company LLC in a note issued to investors on Thursday,Benzinga reports.

A number of other analysts have also commented on the company. Piper Sandler decreased their target price on Steven Madden from $45.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. StockNews.com downgraded shares of Steven Madden from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Telsey Advisory Group decreased their price target on shares of Steven Madden from $50.00 to $44.00 and set a “market perform” rating for the company in a research note on Tuesday, February 4th. Finally, Citigroup reduced their price objective on shares of Steven Madden from $45.00 to $38.00 and set a “neutral” rating for the company in a report on Tuesday, February 4th. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $43.33.

Steven Madden Price Performance

Shares of NASDAQ:SHOO traded up $1.50 during mid-day trading on Thursday, hitting $39.13. The company had a trading volume of 384,221 shares, compared to its average volume of 680,343. Steven Madden has a one year low of $36.40 and a one year high of $50.01. The firm has a fifty day moving average price of $41.49 and a 200 day moving average price of $43.95. The company has a market capitalization of $2.82 billion, a PE ratio of 16.67 and a beta of 1.07.

Hedge Funds Weigh In On Steven Madden

A number of hedge funds and other institutional investors have recently modified their holdings of SHOO. Vanguard Group Inc. lifted its holdings in Steven Madden by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 8,097,339 shares of the textile maker’s stock worth $344,299,000 after acquiring an additional 54,877 shares during the period. State Street Corp boosted its holdings in shares of Steven Madden by 1.7% in 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. Invesco Ltd. boosted its holdings in shares of Steven Madden by 8.6% in the 4th quarter. Invesco Ltd. now owns 1,745,456 shares of the textile maker’s stock worth $74,217,000 after buying an additional 138,065 shares during the last quarter. Pacer Advisors Inc. bought a new stake in shares of Steven Madden in the 4th quarter worth approximately $72,795,000. Finally, Geode Capital Management LLC lifted its position 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 valued at $83,812,000 after buying an additional 49,075 shares during the last quarter. Hedge funds and other institutional investors own 99.88% of the company’s stock.

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.