Steven Madden, Ltd. (NASDAQ:SHOO) Receives $41.75 Average PT from Analysts

Shares of Steven Madden, Ltd. (NASDAQ:SHOO) have been given a consensus rating of “Hold” by the seven analysts that are covering the stock, Marketbeat reports. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $41.75.

Several research analysts have weighed in on the stock. Citigroup increased their target price on shares of Steven Madden from $41.00 to $43.00 and gave the stock a “neutral” rating in a research note on Thursday, February 29th. Wedbush reaffirmed a “neutral” rating and issued a $41.00 target price on shares of Steven Madden in a report on Friday, May 17th. StockNews.com raised shares of Steven Madden from a “hold” rating to a “buy” rating in a report on Thursday, February 29th. Williams Trading reaffirmed a “hold” rating and issued a $44.00 target price on shares of Steven Madden in a report on Wednesday, February 21st. Finally, Piper Sandler began coverage on shares of Steven Madden in a report on Wednesday, February 14th. They issued a “neutral” rating and a $45.00 target price on the stock.

Insider Buying and Selling at Steven Madden

In other Steven Madden news, CEO Edward R. Rosenfeld sold 48,500 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $41.49, for a total transaction of $2,012,265.00. Following the sale, the chief executive officer now directly owns 697,038 shares in the company, valued at approximately $28,920,106.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Steven Madden news, CEO Edward R. Rosenfeld sold 48,500 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $41.49, for a total transaction of $2,012,265.00. Following the sale, the chief executive officer now directly owns 697,038 shares in the company, valued at approximately $28,920,106.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter Allan Davis sold 1,200 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $42.13, for a total transaction of $50,556.00. Following the sale, the director now owns 5,751 shares in the company, valued at $242,289.63. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,346 shares of company stock valued at $2,464,841. 2.08% of the stock is owned by company insiders.

Institutional Investors Weigh In On Steven Madden

Institutional investors and hedge funds have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. boosted its position in shares of Steven Madden by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,024,238 shares of the textile maker’s stock worth $43,018,000 after buying an additional 26,177 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Steven Madden by 30.7% in the 4th quarter. Pacer Advisors Inc. now owns 1,469,956 shares of the textile maker’s stock worth $61,738,000 after buying an additional 345,558 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Steven Madden by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 8,329,605 shares of the textile maker’s stock worth $264,632,000 after buying an additional 80,199 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of 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 buying an additional 482 shares in the last quarter. Finally, Raymond James & Associates boosted its position in shares of Steven Madden by 4.1% in the 4th quarter. Raymond James & Associates now owns 105,879 shares of the textile maker’s stock worth $4,447,000 after buying an additional 4,136 shares in the last quarter. 99.88% of the stock is currently owned by hedge funds and other institutional investors.

Steven Madden Stock Up 3.4 %

SHOO opened at $42.84 on Wednesday. The company has a market cap of $3.14 billion, a price-to-earnings ratio of 17.70 and a beta of 1.15. Steven Madden has a 52-week low of $29.92 and a 52-week high of $45.63. The firm’s fifty day simple moving average is $40.81 and its two-hundred day simple moving average is $40.89.

Steven Madden (NASDAQ:SHOO) last issued its earnings results on Wednesday, May 1st. The textile maker reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.09. Steven Madden had a net margin of 8.65% and a return on equity of 22.68%. The business had revenue of $552.38 million during the quarter, compared to analysts’ expectations of $525.04 million. During the same period in the prior year, the business earned $0.50 earnings per share. The company’s quarterly revenue was up 19.1% compared to the same quarter last year. On average, research analysts forecast that Steven Madden will post 2.62 EPS for the current year.

Steven Madden Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Monday, June 10th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.84 annualized dividend and a yield of 1.96%. Steven Madden’s dividend payout ratio is currently 34.71%.

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.