Steven Madden (NASDAQ:SHOO) Downgraded to Hold Rating by StockNews.com

StockNews.com cut shares of Steven Madden (NASDAQ:SHOO) from a buy rating to a hold rating in a report published on Tuesday.

Several other brokerages have also recently weighed in on SHOO. Needham & Company LLC reissued a “hold” rating on shares of Steven Madden in a research report on Thursday, December 5th. Citigroup lifted their target price on shares of Steven Madden from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $50.00 price target on shares of Steven Madden in a research note on Wednesday, November 13th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Steven Madden currently has an average rating of “Hold” and an average price target of $46.33.

Steven Madden Price Performance

SHOO opened at $40.84 on Tuesday. The firm has a market capitalization of $2.95 billion, a price-to-earnings ratio of 17.38 and a beta of 1.08. The company’s 50 day simple moving average is $43.41 and its two-hundred day simple moving average is $44.46. Steven Madden has a 1-year low of $37.99 and a 1-year high of $50.01.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings results on Thursday, November 7th. The textile maker reported $0.91 EPS for the quarter, beating the consensus estimate of $0.89 by $0.02. The firm had revenue of $624.68 million during the quarter, compared to analysts’ expectations of $607.89 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.88 earnings per share. On average, equities analysts anticipate that Steven Madden will post 2.66 earnings per share for the current fiscal year.

Steven Madden Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend was Friday, December 13th. Steven Madden’s dividend payout ratio (DPR) is presently 35.74%.

Institutional Investors Weigh In On Steven Madden

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC boosted its position in shares of Steven Madden by 8,180.4% during the 3rd quarter. FMR LLC now owns 535,081 shares of the textile maker’s stock worth $26,214,000 after purchasing an additional 528,619 shares during the period. Geode Capital Management LLC lifted its stake in Steven Madden by 3.0% during the third quarter. Geode Capital Management LLC now owns 1,710,492 shares of the textile maker’s stock worth $83,812,000 after purchasing an additional 49,075 shares in the last quarter. Systematic Financial Management LP boosted its position in shares of Steven Madden by 15.9% during the third quarter. Systematic Financial Management LP now owns 439,126 shares of the textile maker’s stock worth $21,513,000 after buying an additional 60,276 shares during the period. Landscape Capital Management L.L.C. acquired a new stake in shares of Steven Madden in the third quarter valued at $2,614,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of Steven Madden by 5.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 462,096 shares of the textile maker’s stock valued at $22,638,000 after buying an additional 21,942 shares during the period. 99.88% of the stock is owned by hedge funds and other 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.