UBS Group Issues Positive Forecast for Steven Madden (NASDAQ:SHOO) Stock Price

Steven Madden (NASDAQ:SHOO) had its price target boosted by UBS Group from $22.00 to $23.00 in a research report released on Thursday,Benzinga reports. UBS Group currently has a neutral rating on the textile maker’s stock.

Several other analysts also recently commented on the company. Needham & Company LLC reiterated a “hold” rating on shares of Steven Madden in a research note on Friday, May 2nd. Citigroup dropped their price objective on Steven Madden from $35.00 to $23.00 and set a “neutral” rating on the stock in a research report on Thursday, May 1st. Loop Capital decreased their target price on Steven Madden from $40.00 to $35.00 and set a “hold” rating for the company in a research report on Thursday, February 27th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Steven Madden in a report on Monday, February 3rd. Finally, Piper Sandler decreased their price objective on shares of Steven Madden from $35.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Nine analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $32.00.

Steven Madden Trading Down 3.6 %

Steven Madden stock opened at $22.98 on Thursday. The business’s fifty day simple moving average is $23.61 and its two-hundred day simple moving average is $35.46. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of 9.78 and a beta of 1.04. Steven Madden has a 12 month low of $19.05 and a 12 month high of $50.01.

Steven Madden (NASDAQ:SHOO) last issued its earnings results on Wednesday, May 7th. The textile maker reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.14. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The business had revenue of $551.38 million during the quarter, compared to analysts’ expectations of $557.81 million. During the same period in the previous year, the company earned $0.65 earnings per share. The business’s revenue for the quarter was up .2% compared to the same quarter last year. On average, equities research analysts predict that Steven Madden will post 2.66 EPS for the current year.

Steven Madden Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Monday, June 9th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 3.66%. Steven Madden’s dividend payout ratio (DPR) is 35.74%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of Steven Madden by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 8,316,124 shares of the textile maker’s stock worth $221,542,000 after purchasing an additional 218,785 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Steven Madden by 36.9% in the fourth quarter. First Trust Advisors LP now owns 2,002,228 shares of the textile maker’s stock worth $85,135,000 after buying an additional 539,738 shares during the period. Invesco Ltd. lifted its position in shares of Steven Madden by 8.6% during the 4th quarter. Invesco Ltd. now owns 1,745,456 shares of the textile maker’s stock valued at $74,217,000 after buying an additional 138,065 shares in the last quarter. Pacer Advisors Inc. bought a new position in shares of Steven Madden during the 4th quarter valued at approximately $72,795,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in Steven Madden by 29.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,455,381 shares of the textile maker’s stock worth $39,907,000 after acquiring an additional 332,689 shares in 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.