Steven Madden, Ltd. (NASDAQ:SHOO) Receives $45.43 Average Price Target from Analysts

Shares of Steven Madden, Ltd. (NASDAQ:SHOO) have been given a consensus recommendation of “Hold” by the eight research firms that are presently covering the stock, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $45.43.

Several brokerages recently weighed in on SHOO. Citigroup boosted their target price on Steven Madden from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Piper Sandler reaffirmed a “neutral” rating and issued a $45.00 price objective on shares of Steven Madden in a research report on Friday, August 23rd. Telsey Advisory Group reaffirmed a “market perform” rating and set a $50.00 price target on shares of Steven Madden in a research report on Wednesday, November 13th. Needham & Company LLC reaffirmed a “hold” rating on shares of Steven Madden in a report on Thursday, December 5th. Finally, StockNews.com cut shares of Steven Madden from a “buy” rating to a “hold” rating in a report on Sunday, November 24th.

Institutional Investors Weigh In On Steven Madden

A number of institutional investors have recently added to or reduced their stakes in SHOO. Tidal Investments LLC boosted its stake in Steven Madden by 15.1% during the 3rd quarter. Tidal Investments LLC now owns 17,375 shares of the textile maker’s stock worth $851,000 after purchasing an additional 2,278 shares during the last quarter. Geode Capital Management LLC raised its holdings in 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 valued at $83,812,000 after acquiring an additional 49,075 shares during the last quarter. Barclays PLC lifted its stake in Steven Madden by 286.9% in the 3rd quarter. Barclays PLC now owns 139,206 shares of the textile maker’s stock worth $6,819,000 after purchasing an additional 103,226 shares in the last quarter. Weiss Asset Management LP acquired a new position in shares of Steven Madden during the 3rd quarter worth approximately $12,558,000. Finally, State Street Corp grew its position in shares of Steven Madden by 1.7% in the third quarter. State Street Corp now owns 2,756,075 shares of the textile maker’s stock valued at $135,020,000 after purchasing an additional 47,017 shares in the last quarter. Institutional investors and hedge funds own 99.88% of the company’s stock.

Steven Madden Stock Performance

SHOO stock opened at $43.52 on Friday. Steven Madden has a one year low of $37.99 and a one year high of $50.01. The firm has a market cap of $3.14 billion, a price-to-earnings ratio of 18.52 and a beta of 1.07. The firm has a 50-day simple moving average of $45.55 and a two-hundred day simple moving average of $44.70.

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

Steven Madden Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a dividend of $0.21 per share. The ex-dividend date is Friday, December 13th. This represents a $0.84 dividend on an annualized basis and a yield of 1.93%. Steven Madden’s dividend payout ratio is currently 35.74%.

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.