Steven Madden’s (SHOO) “Market Perform” Rating Reiterated at Telsey Advisory Group

Telsey Advisory Group restated their market perform rating on shares of Steven Madden (NASDAQ:SHOO) in a research note published on Thursday morning, Benzinga reports. They currently have a $44.00 price objective on the textile maker’s stock.

A number of other equities analysts have also recently commented on SHOO. BTIG Research lifted their target price on Steven Madden from $50.00 to $53.00 and gave the stock a buy rating in a report on Thursday, June 6th. Wedbush reiterated a neutral rating and issued a $41.00 target price on shares of Steven Madden in a report on Friday, May 17th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Steven Madden currently has a consensus rating of Hold and an average price target of $43.38.

Steven Madden Price Performance

NASDAQ:SHOO opened at $44.02 on Thursday. Steven Madden has a 1 year low of $30.35 and a 1 year high of $45.91. The stock’s 50 day simple moving average is $43.39 and its two-hundred day simple moving average is $42.23. The company has a market cap of $3.23 billion, a price-to-earnings ratio of 18.19 and a beta of 1.09.

Steven Madden (NASDAQ:SHOO) last released its quarterly earnings data on Wednesday, May 1st. The textile maker reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.09. Steven Madden had a return on equity of 22.68% and a net margin of 8.65%. The business had revenue of $552.38 million for the quarter, compared to the consensus estimate of $525.04 million. During the same quarter in the previous year, the company posted $0.50 EPS. The company’s revenue was up 19.1% compared to the same quarter last year. As a group, analysts anticipate that Steven Madden will post 2.62 EPS for the current year.

Steven Madden Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Monday, June 10th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.91%. The ex-dividend date was Monday, June 10th. Steven Madden’s dividend payout ratio (DPR) is presently 34.71%.

Insider Buying and Selling at Steven Madden

In other Steven Madden news, Director Rose Peabody Lynch sold 1,600 shares of the company’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $44.41, for a total value of $71,056.00. Following the transaction, the director now owns 21,303 shares of the company’s stock, valued at approximately $946,066.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Rose Peabody Lynch sold 1,600 shares of the stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $44.41, for a total transaction of $71,056.00. Following the transaction, the director now owns 21,303 shares of the company’s stock, valued at approximately $946,066.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Peter Migliorini sold 3,000 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $43.81, for a total value of $131,430.00. Following the transaction, the director now directly owns 16,006 shares in the company, valued at approximately $701,222.86. The disclosure for this sale can be found here. Insiders have sold 14,600 shares of company stock valued at $651,586 in the last quarter. 2.08% of the stock is owned by insiders.

Hedge Funds Weigh In On Steven Madden

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Legato Capital Management LLC bought a new position in shares of Steven Madden during the 2nd quarter worth $619,000. Bank of New York Mellon Corp lifted its stake in shares of Steven Madden by 0.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 873,682 shares of the textile maker’s stock worth $36,957,000 after purchasing an additional 5,451 shares during the last quarter. Leeward Investments LLC MA lifted its stake in shares of Steven Madden by 5.6% during the 2nd quarter. Leeward Investments LLC MA now owns 312,740 shares of the textile maker’s stock worth $13,229,000 after purchasing an additional 16,529 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Steven Madden by 9,166.7% during the 2nd quarter. Blue Trust Inc. now owns 834 shares of the textile maker’s stock worth $35,000 after purchasing an additional 825 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Steven Madden during the 2nd quarter worth $1,269,000. Institutional investors own 99.88% of the company’s stock.

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.