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

Shares of Steven Madden, Ltd. (NASDAQ:SHOOGet Free Report) have been given a consensus recommendation of “Hold” by the seven brokerages that are covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $41.38.

Several equities analysts have recently issued reports on the company. StockNews.com raised Steven Madden from a “hold” rating to a “buy” rating in a research report on Thursday, February 29th. Citigroup lifted their price target on Steven Madden from $41.00 to $43.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th. Piper Sandler assumed coverage on Steven Madden in a research report on Wednesday, February 14th. They issued a “neutral” rating and a $45.00 price target for the company. Jefferies Financial Group reaffirmed a “hold” rating and issued a $40.00 price target on shares of Steven Madden in a research report on Thursday, January 4th. Finally, Telsey Advisory Group lifted their price target on Steven Madden from $39.00 to $44.00 and gave the stock a “market perform” rating in a research report on Thursday, February 29th.

Check Out Our Latest Stock Analysis on Steven Madden

Insiders Place Their Bets

In other Steven Madden news, CEO Edward R. Rosenfeld sold 48,500 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 697,038 shares in the company, valued at approximately $28,920,106.62. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Steven Madden news, CEO Edward R. Rosenfeld sold 48,500 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 697,038 shares in the company, valued at approximately $28,920,106.62. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Lisa Keith sold 2,400 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $41.73, for a total value of $100,152.00. Following the transaction, the executive vice president now owns 20,687 shares of the company’s stock, valued at $863,268.51. The disclosure for this sale can be found here. In the last 90 days, insiders sold 59,346 shares of company stock valued at $2,464,841. 2.01% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SHOO. Los Angeles Capital Management LLC boosted its stake in Steven Madden by 2.3% in the 3rd quarter. Los Angeles Capital Management LLC now owns 13,979 shares of the textile maker’s stock worth $444,000 after purchasing an additional 315 shares during the period. O Shaughnessy Asset Management LLC boosted its stake in Steven Madden by 5.1% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 7,544 shares of the textile maker’s stock worth $240,000 after purchasing an additional 363 shares during the period. Bank of Montreal Can boosted its stake in Steven Madden by 1.9% in the 1st quarter. Bank of Montreal Can now owns 22,683 shares of the textile maker’s stock worth $912,000 after purchasing an additional 414 shares during the period. Belpointe Asset Management LLC boosted its stake in Steven Madden by 83.9% in the 1st quarter. Belpointe Asset Management LLC now owns 997 shares of the textile maker’s stock worth $36,000 after purchasing an additional 455 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Steven Madden by 1.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,365 shares of the textile maker’s stock worth $1,092,000 after purchasing an additional 482 shares during the period. 99.88% of the stock is currently owned by institutional investors.

Steven Madden Trading Up 0.3 %

Shares of SHOO stock opened at $42.42 on Tuesday. Steven Madden has a 12 month low of $29.92 and a 12 month high of $45.63. The stock has a market cap of $3.14 billion, a PE ratio of 18.44 and a beta of 1.16. The company’s fifty day moving average price is $42.35 and its 200-day moving average price is $38.71.

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

Steven Madden Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend was Thursday, March 7th. Steven Madden’s dividend payout ratio (DPR) is 36.52%.

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.

See Also

Analyst Recommendations for Steven Madden (NASDAQ:SHOO)

Receive News & Ratings for Steven Madden Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Steven Madden and related companies with MarketBeat.com's FREE daily email newsletter.