Steven Madden, Ltd. (NASDAQ:SHOO) Receives $31.86 Consensus PT from Analysts

Steven Madden, Ltd. (NASDAQ:SHOO) has been assigned a consensus rating of “Hold” from the nine ratings firms that are currently covering the company, Marketbeat reports. Eight equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $32.00.

Several research analysts have recently weighed in on the stock. StockNews.com lowered shares of Steven Madden from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Telsey Advisory Group restated a “market perform” rating and set a $24.00 price target on shares of Steven Madden in a report on Thursday. Citigroup decreased their price objective on Steven Madden from $35.00 to $23.00 and set a “neutral” rating on the stock in a report on Thursday, May 1st. UBS Group raised their target price on Steven Madden from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Piper Sandler decreased their price target on Steven Madden from $35.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th.

Hedge Funds Weigh In On Steven Madden

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SHOO. Pacer Advisors Inc. acquired a new position in Steven Madden during the 4th quarter worth $72,795,000. First Trust Advisors LP raised its holdings in 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 valued at $85,135,000 after acquiring an additional 539,738 shares in the last quarter. Federated Hermes Inc. lifted its stake in Steven Madden by 270,516.2% in the first quarter. Federated Hermes Inc. now owns 533,114 shares of the textile maker’s stock worth $14,202,000 after acquiring an additional 532,917 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Steven Madden by 46.5% during the 1st quarter. Victory Capital Management Inc. now owns 1,212,373 shares of the textile maker’s stock worth $32,298,000 after acquiring an additional 384,979 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in shares of 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 valued at $39,907,000 after purchasing an additional 332,689 shares during the last quarter. Hedge funds and other institutional investors own 99.88% of the company’s stock.

Steven Madden Price Performance

Shares of SHOO stock opened at $22.98 on Wednesday. The stock has a 50 day simple moving average of $23.61 and a 200-day simple moving average of $35.52. Steven Madden has a 1-year low of $19.05 and a 1-year high of $50.01. The company has a market cap of $1.67 billion, a price-to-earnings ratio of 9.78 and a beta of 1.04.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings results on Wednesday, May 7th. The textile maker reported $0.60 earnings per share 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 firm had revenue of $551.38 million for the quarter, compared to the consensus estimate of $557.81 million. During the same period last year, the firm posted $0.65 earnings per share. The company’s revenue for the quarter was up .2% on a year-over-year basis. Analysts anticipate that Steven Madden will post 2.66 earnings per share for the current fiscal year.

Steven Madden Announces Dividend

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

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.