Insider Selling: Steven Madden, Ltd. (NASDAQ:SHOO) CEO Sells $2,012,265.00 in Stock

Steven Madden, Ltd. (NASDAQ:SHOOGet Free Report) CEO Edward R. Rosenfeld sold 48,500 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $41.49, for a total transaction of $2,012,265.00. Following the transaction, the chief executive officer now owns 697,038 shares of the company’s stock, valued at approximately $28,920,106.62. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Steven Madden Trading Down 0.9 %

SHOO stock opened at $40.73 on Thursday. The company has a market cap of $3.01 billion, a price-to-earnings ratio of 17.71 and a beta of 1.16. The firm has a 50-day moving average of $42.39 and a two-hundred day moving average of $38.20. Steven Madden, Ltd. has a 12 month low of $29.92 and a 12 month high of $45.63.

Steven Madden (NASDAQ:SHOOGet Free Report) last announced its quarterly earnings data on Wednesday, February 28th. The textile maker reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.05. The business had revenue of $519.71 million for the quarter, compared to analyst estimates of $511.96 million. Steven Madden had a net margin of 8.67% and a return on equity of 21.61%. The company’s revenue was up 10.4% on a year-over-year basis. During the same period last year, the business earned $0.44 EPS. As a group, equities analysts forecast that Steven Madden, Ltd. will post 2.61 earnings per share for the current year.

Steven Madden Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 22nd. Shareholders of record on Friday, March 8th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend is Thursday, March 7th. Steven Madden’s dividend payout ratio (DPR) is presently 36.52%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SHOO. Jefferies Financial Group reiterated a “hold” rating and issued a $40.00 target price on shares of Steven Madden in a research note on Thursday, January 4th. StockNews.com raised Steven Madden from a “hold” rating to a “buy” rating in a research note on Thursday, February 29th. Citigroup boosted their target price on Steven Madden from $41.00 to $43.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th. Williams Trading reiterated a “hold” rating and set a $44.00 price target on shares of Steven Madden in a report on Wednesday, February 21st. Finally, Telsey Advisory Group increased their price objective on Steven Madden from $39.00 to $44.00 and gave the stock a “market perform” rating in a research note on Thursday, February 29th. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Steven Madden currently has an average rating of “Hold” and an average price target of $41.38.

Read Our Latest Stock Analysis on Steven Madden

Hedge Funds Weigh In On Steven Madden

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Raymond James & Associates increased its holdings in shares of Steven Madden by 3.6% in the 1st quarter. Raymond James & Associates now owns 89,563 shares of the textile maker’s stock worth $3,461,000 after acquiring an additional 3,082 shares during the period. American Century Companies Inc. lifted its position in shares of Steven Madden by 6.1% in the first quarter. American Century Companies Inc. now owns 32,049 shares of the textile maker’s stock worth $1,238,000 after purchasing an additional 1,853 shares in the last quarter. Citigroup Inc. raised its position in Steven Madden by 6.2% during the first quarter. Citigroup Inc. now owns 73,056 shares of the textile maker’s stock valued at $2,823,000 after acquiring an additional 4,282 shares in the last quarter. PNC Financial Services Group Inc. raised its position in Steven Madden by 5.8% during the first quarter. PNC Financial Services Group Inc. now owns 14,050 shares of the textile maker’s stock valued at $544,000 after acquiring an additional 767 shares in the last quarter. Finally, Bank of Montreal Can raised its position in Steven Madden by 1.9% during the first quarter. Bank of Montreal Can now owns 22,683 shares of the textile maker’s stock valued at $912,000 after acquiring an additional 414 shares in the last quarter. Institutional investors and hedge funds own 99.88% of the company’s stock.

About Steven Madden

(Get Free Report)

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.

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