Steven Madden, Ltd. (NASDAQ:SHOO) Given Average Recommendation of “Hold” by Brokerages

Steven Madden, Ltd. (NASDAQ:SHOO) has been given an average recommendation of “Hold” by the eight brokerages that are covering the stock, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $40.33.

SHOO has been the topic of a number of recent analyst reports. StockNews.com downgraded Steven Madden from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Jefferies Financial Group reissued a “hold” rating on shares of Steven Madden in a research report on Monday, February 3rd. Citigroup dropped their price objective on shares of Steven Madden from $38.00 to $35.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Piper Sandler lowered their price target on Steven Madden from $45.00 to $40.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. Finally, Loop Capital dropped their price objective on shares of Steven Madden from $40.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, February 27th.

Steven Madden Stock Performance

SHOO opened at $25.76 on Tuesday. Steven Madden has a one year low of $24.97 and a one year high of $50.01. The company has a market capitalization of $1.86 billion, a PE ratio of 10.96 and a beta of 1.06. The stock’s fifty day moving average is $36.85 and its 200-day moving average is $42.21.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings results on Wednesday, February 26th. The textile maker reported $0.55 EPS for the quarter, beating the consensus estimate of $0.53 by $0.02. The business had revenue of $582.32 million during the quarter, compared to the consensus estimate of $550.37 million. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. On average, equities research analysts forecast that Steven Madden will post 2.66 EPS for the current fiscal year.

Steven Madden Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 10th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.84 annualized dividend and a yield of 3.26%. Steven Madden’s dividend payout ratio (DPR) is presently 35.74%.

Institutional Trading of Steven Madden

Institutional investors have recently added to or reduced their stakes in the company. R Squared Ltd acquired a new position in shares of Steven Madden during the 4th quarter worth approximately $55,000. Quarry LP boosted its stake in shares of Steven Madden by 403.6% in the fourth quarter. Quarry LP now owns 1,385 shares of the textile maker’s stock valued at $59,000 after buying an additional 1,110 shares during the period. Blue Trust Inc. grew its position in Steven Madden by 20.9% during the fourth quarter. Blue Trust Inc. now owns 1,958 shares of the textile maker’s stock worth $83,000 after buying an additional 339 shares in the last quarter. KBC Group NV increased its stake in Steven Madden by 34.1% during the 3rd quarter. KBC Group NV now owns 2,208 shares of the textile maker’s stock worth $108,000 after acquiring an additional 561 shares during the period. Finally, Smartleaf Asset Management LLC increased its stake in Steven Madden by 21.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 4,171 shares of the textile maker’s stock worth $176,000 after acquiring an additional 741 shares during the period. 99.88% of the stock is currently owned by institutional investors.

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.