Brokerages Set Steven Madden, Ltd. (NASDAQ:SHOO) PT at $43.20

Shares of Steven Madden, Ltd. (NASDAQ:SHOO) have been given an average recommendation of “Hold” by the seven analysts that are covering the stock, Marketbeat.com reports. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $43.20.

Several research firms have recently weighed in on SHOO. Citigroup lowered their price objective on shares of Steven Madden from $45.00 to $38.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. Needham & Company LLC reaffirmed a “hold” rating on shares of Steven Madden in a report on Thursday, February 13th. 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, February 4th. Jefferies Financial Group reissued a “hold” rating on shares of Steven Madden in a report on Monday, February 3rd. Finally, StockNews.com lowered shares of Steven Madden from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th.

Steven Madden Price Performance

NASDAQ SHOO opened at $38.23 on Friday. The company’s 50 day simple moving average is $40.83 and its two-hundred day simple moving average is $43.76. The stock has a market capitalization of $2.76 billion, a PE ratio of 16.27 and a beta of 1.07. Steven Madden has a 1 year low of $36.40 and a 1 year high of $50.01.

Steven Madden Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were issued a $0.21 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.84 annualized dividend and a yield of 2.20%. Steven Madden’s dividend payout ratio (DPR) is presently 35.74%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SHOO. PharVision Advisers LLC bought a new position in shares of Steven Madden in the fourth quarter worth approximately $226,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Steven Madden by 12.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 191,667 shares of the textile maker’s stock valued at $8,150,000 after acquiring an additional 21,270 shares during the period. iSAM Funds UK Ltd purchased a new stake in shares of Steven Madden in the fourth quarter valued at $350,000. Vident Advisory LLC raised its stake in shares of Steven Madden by 4.6% in the fourth quarter. Vident Advisory LLC now owns 17,267 shares of the textile maker’s stock valued at $734,000 after acquiring an additional 756 shares during the period. Finally, Two Sigma Advisers LP grew its holdings in shares of Steven Madden by 24.7% in the fourth quarter. Two Sigma Advisers LP now owns 96,400 shares of the textile maker’s stock worth $4,099,000 after purchasing an additional 19,100 shares during the last quarter. 99.88% of the stock is owned by hedge funds and other 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.