Steven Madden (NASDAQ:SHOO) Now Covered by Analysts at Needham & Company LLC

Needham & Company LLC began coverage on shares of Steven Madden (NASDAQ:SHOO) in a research note released on Friday morning, MarketBeat reports. The brokerage issued a hold rating on the textile maker’s stock.

A number of other equities analysts have also recently issued reports on the stock. Citigroup boosted their price objective on shares of Steven Madden from $43.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. StockNews.com raised Steven Madden from a “hold” rating to a “buy” rating in a research report on Saturday, November 16th. Wedbush reiterated a “neutral” rating and issued a $41.00 price objective on shares of Steven Madden in a report on Wednesday, August 7th. Piper Sandler reissued a “neutral” rating and set a $45.00 target price on shares of Steven Madden in a research note on Friday, August 23rd. Finally, Telsey Advisory Group reaffirmed 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 research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $45.43.

Steven Madden Trading Up 1.4 %

NASDAQ SHOO opened at $43.40 on Friday. The firm has a market cap of $3.13 billion, a PE ratio of 18.47 and a beta of 1.08. Steven Madden has a 1-year low of $36.56 and a 1-year high of $50.01. The stock has a 50-day moving average of $46.33 and a 200-day moving average of $44.37.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings data on Thursday, November 7th. The textile maker reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.02. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. The firm had revenue of $624.68 million during the quarter, compared to the consensus estimate of $607.89 million. During the same quarter in the previous year, the company posted $0.88 earnings per share. The business’s revenue was up 13.0% on a year-over-year basis. As a group, equities research analysts forecast that Steven Madden will post 2.65 earnings per share for the current fiscal year.

Steven Madden Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.84 annualized dividend and a yield of 1.94%. Steven Madden’s payout ratio is 35.74%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. State Street Corp increased its stake in shares of Steven Madden by 1.7% in the 3rd quarter. State Street Corp now owns 2,756,075 shares of the textile maker’s stock worth $135,020,000 after acquiring an additional 47,017 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Steven Madden by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,710,492 shares of the textile maker’s stock worth $83,812,000 after acquiring an additional 49,075 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Steven Madden by 3.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,096,777 shares of the textile maker’s stock worth $53,731,000 after acquiring an additional 32,696 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Steven Madden by 0.6% in 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 acquiring an additional 5,451 shares in the last quarter. Finally, Fisher Asset Management LLC increased its stake in shares of Steven Madden by 0.6% in the 3rd quarter. Fisher Asset Management LLC now owns 728,674 shares of the textile maker’s stock worth $35,698,000 after acquiring an additional 4,108 shares in the last quarter. 99.88% of the stock is currently owned by institutional investors.

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.