Steven Madden, Ltd. (NASDAQ:SHOO) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Steven Madden, Ltd. (NASDAQ:SHOO) have received a consensus rating of “Hold” from the seven ratings firms that are currently covering the company, Marketbeat reports. Six analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $41.38.

A number of equities research analysts recently weighed in on SHOO shares. Citigroup lifted their price objective on shares of Steven Madden from $41.00 to $43.00 and gave the company a “neutral” rating in a research note on Thursday, February 29th. Piper Sandler initiated coverage on shares of Steven Madden in a research report on Wednesday, February 14th. They issued a “neutral” rating and a $45.00 price target on the stock. Williams Trading reiterated a “hold” rating and issued a $44.00 price target on shares of Steven Madden in a research report on Wednesday, February 21st. StockNews.com upgraded shares of Steven Madden from a “hold” rating to a “buy” rating in a research report on Thursday, February 29th. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $44.00 price target on shares of Steven Madden in a research report on Friday.

Steven Madden Trading Up 1.9 %

NASDAQ:SHOO opened at $40.48 on Friday. The firm has a market cap of $2.97 billion, a price-to-earnings ratio of 17.60 and a beta of 1.16. The company’s 50-day moving average is $41.49 and its two-hundred day moving average is $39.68. Steven Madden has a 12-month low of $29.92 and a 12-month high of $45.63.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings data on Wednesday, February 28th. The textile maker reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.05. The company had revenue of $519.71 million during the quarter, compared to the consensus estimate of $511.96 million. Steven Madden had a net margin of 8.67% and a return on equity of 21.61%. The company’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.44 EPS. On average, equities research analysts forecast that Steven Madden will post 2.61 earnings per share for the current fiscal year.

Steven Madden Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were paid a $0.21 dividend. The ex-dividend date was Thursday, March 7th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.08%. Steven Madden’s payout ratio is 36.52%.

Insider Buying and Selling at Steven Madden

In other Steven Madden news, 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 value of $2,012,265.00. Following the sale, the chief executive officer now directly owns 697,038 shares in the company, valued at $28,920,106.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, 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 $28,920,106.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lisa Keith sold 2,400 shares of the company’s stock in a transaction 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 directly owns 20,687 shares in the company, valued at approximately $863,268.51. The disclosure for this sale can be found here. Insiders have sold 59,346 shares of company stock worth $2,464,841 over the last three months. Company insiders own 2.01% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SHOO. GAMMA Investing LLC bought a new position in shares of Steven Madden during the 4th quarter worth approximately $32,000. International Assets Investment Management LLC lifted its holdings in Steven Madden by 4,100.0% during the 4th quarter. International Assets Investment Management LLC now owns 1,638 shares of the textile maker’s stock worth $69,000 after purchasing an additional 1,599 shares during the last quarter. Covestor Ltd lifted its holdings in Steven Madden by 32.9% during the 3rd quarter. Covestor Ltd now owns 5,320 shares of the textile maker’s stock worth $169,000 after purchasing an additional 1,316 shares during the last quarter. Mackenzie Financial Corp acquired a new position in Steven Madden in the 4th quarter valued at $207,000. Finally, Steele Capital Management Inc. acquired a new position in Steven Madden in the 4th quarter valued at $237,000. 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.