Steven Madden (NASDAQ:SHOO) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of Steven Madden (NASDAQ:SHOO) from a buy rating to a hold rating in a research report sent to investors on Sunday.

SHOO has been the topic of a number of other reports. Wedbush restated a “neutral” rating and set a $41.00 target price on shares of Steven Madden in a research report on Wednesday, August 7th. Citigroup raised their price target on Steven Madden from $43.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Needham & Company LLC began coverage on Steven Madden in a research report on Friday, November 22nd. They issued a “hold” rating for the company. Piper Sandler restated a “neutral” rating and set a $45.00 target price on shares of Steven Madden in a research report on Friday, August 23rd. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $50.00 price target on shares of Steven Madden in a report on Wednesday, November 13th. Eight research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $45.43.

Steven Madden Stock Performance

NASDAQ SHOO opened at $44.84 on Friday. The firm has a market cap of $3.24 billion, a price-to-earnings ratio of 19.06 and a beta of 1.08. The firm has a 50 day simple moving average of $46.22 and a 200-day simple moving average of $44.49. Steven Madden has a one year low of $37.51 and a one year high of $50.01.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings data on Thursday, November 7th. The textile maker reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.02. The company had revenue of $624.68 million for the quarter, compared to the consensus estimate of $607.89 million. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.88 EPS. Equities analysts predict that Steven Madden will post 2.65 EPS for the current fiscal year.

Steven Madden Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend is Friday, December 13th. Steven Madden’s dividend payout ratio is presently 35.74%.

Hedge Funds Weigh In On Steven Madden

A number of institutional investors have recently modified their holdings of SHOO. Gladius Capital Management LP acquired a new position in Steven Madden in the 3rd quarter valued at $36,000. Blue Trust Inc. increased its stake in Steven Madden by 9,166.7% in the second quarter. Blue Trust Inc. now owns 834 shares of the textile maker’s stock valued at $35,000 after purchasing an additional 825 shares during the last quarter. Exchange Traded Concepts LLC purchased a new position in Steven Madden during the third quarter worth about $59,000. GAMMA Investing LLC grew its holdings in Steven Madden by 80.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,329 shares of the textile maker’s stock valued at $65,000 after buying an additional 593 shares during the period. Finally, International Assets Investment Management LLC increased its stake in shares of Steven Madden by 4,800.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,911 shares of the textile maker’s stock valued at $94,000 after acquiring an additional 1,872 shares during the last quarter. Institutional investors and hedge funds 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.