Brokerages Set Steven Madden, Ltd. (NASDAQ:SHOO) PT at $44.29

Steven Madden, Ltd. (NASDAQ:SHOO) has received an average recommendation of “Hold” from the seven analysts that are presently covering the company, MarketBeat reports. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $44.29.

Several research firms recently issued reports on SHOO. Telsey Advisory Group reiterated a “market perform” rating and set a $44.00 target price on shares of Steven Madden in a report on Wednesday, July 31st. Wedbush restated a “neutral” rating and issued a $41.00 price objective on shares of Steven Madden in a research note on Wednesday, August 7th. Piper Sandler restated a “neutral” rating and issued a $45.00 price objective on shares of Steven Madden in a research note on Friday, August 23rd. BTIG Research upped their price objective on Steven Madden from $50.00 to $53.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. Finally, StockNews.com upgraded Steven Madden from a “hold” rating to a “buy” rating in a research note on Wednesday, September 18th.

Hedge Funds Weigh In On Steven Madden

Several institutional investors and hedge funds have recently made changes to their positions in the company. Blue Trust Inc. grew its position in Steven Madden by 9,166.7% during the second quarter. Blue Trust Inc. now owns 834 shares of the textile maker’s stock worth $35,000 after buying an additional 825 shares in the last quarter. Fidelis Capital Partners LLC acquired a new stake in Steven Madden during the first quarter worth approximately $47,000. EntryPoint Capital LLC acquired a new stake in Steven Madden during the first quarter worth approximately $81,000. nVerses Capital LLC lifted its stake in Steven Madden by 3,600.0% during the second quarter. nVerses Capital LLC now owns 3,700 shares of the textile maker’s stock worth $157,000 after purchasing an additional 3,600 shares during the last quarter. Finally, Central Pacific Bank Trust Division bought a new stake in Steven Madden during the first quarter worth $170,000. Institutional investors and hedge funds own 99.88% of the company’s stock.

Steven Madden Stock Performance

SHOO opened at $48.99 on Tuesday. Steven Madden has a 52-week low of $31.01 and a 52-week high of $49.29. The firm has a market capitalization of $3.59 billion, a PE ratio of 20.24 and a beta of 1.08. The business’s 50-day simple moving average is $44.69 and its 200 day simple moving average is $42.97.

Steven Madden (NASDAQ:SHOO) last released its earnings results on Wednesday, July 31st. The textile maker reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.06. Steven Madden had a return on equity of 23.49% and a net margin of 8.36%. The business had revenue of $523.60 million for the quarter, compared to analyst estimates of $515.15 million. During the same quarter in the prior year, the company posted $0.47 earnings per share. Steven Madden’s revenue was up 17.6% on a year-over-year basis. On average, research analysts forecast that Steven Madden will post 2.62 earnings per share for the current year.

Steven Madden Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Friday, September 13th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend was Friday, September 13th. Steven Madden’s payout ratio is 34.71%.

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.