Needham & Company LLC Reaffirms “Hold” Rating for Steven Madden (NASDAQ:SHOO)

Needham & Company LLC reaffirmed their hold rating on shares of Steven Madden (NASDAQ:SHOO) in a research note released on Thursday morning,Benzinga reports.

A number of other equities analysts also recently commented on the stock. Jefferies Financial Group reaffirmed a “hold” rating on shares of Steven Madden in a research note on Monday, February 3rd. Piper Sandler reduced their price target on shares of Steven Madden from $45.00 to $40.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. StockNews.com downgraded shares of Steven Madden from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Telsey Advisory Group reduced their price target on shares of Steven Madden from $44.00 to $38.00 and set a “market perform” rating on the stock in a research note on Thursday. Finally, Citigroup reduced their price target on shares of Steven Madden from $45.00 to $38.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. Eight equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $40.33.

Steven Madden Price Performance

Shares of SHOO stock opened at $33.22 on Thursday. The firm’s 50-day moving average is $40.27 and its two-hundred day moving average is $43.56. Steven Madden has a 12 month low of $32.81 and a 12 month high of $50.01. The company has a market capitalization of $2.40 billion, a PE ratio of 14.14 and a beta of 1.07.

Steven Madden (NASDAQ:SHOO) last issued its earnings results on Wednesday, February 26th. The textile maker reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.53 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 $582.32 million for the quarter, compared to the consensus estimate of $550.37 million. Sell-side analysts forecast that Steven Madden will post 2.66 EPS for the current year.

Steven Madden Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date is Monday, March 10th. Steven Madden’s dividend payout ratio (DPR) is currently 35.74%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Central Pacific Bank Trust Division grew its holdings in shares of Steven Madden by 7.4% in the fourth quarter. Central Pacific Bank Trust Division now owns 4,202 shares of the textile maker’s stock valued at $179,000 after purchasing an additional 290 shares in the last quarter. Mariner LLC grew its holdings in Steven Madden by 7.2% during the 4th quarter. Mariner LLC now owns 4,740 shares of the textile maker’s stock worth $202,000 after acquiring an additional 319 shares in the last quarter. Moran Wealth Management LLC grew its holdings in Steven Madden by 1.6% during the 4th quarter. Moran Wealth Management LLC now owns 21,126 shares of the textile maker’s stock worth $898,000 after acquiring an additional 325 shares in the last quarter. Blue Trust Inc. grew its holdings in Steven Madden by 20.9% during the 4th quarter. Blue Trust Inc. now owns 1,958 shares of the textile maker’s stock worth $83,000 after acquiring an additional 339 shares in the last quarter. Finally, Louisiana State Employees Retirement System grew its holdings in Steven Madden by 1.2% during the 3rd quarter. Louisiana State Employees Retirement System now owns 35,100 shares of the textile maker’s stock worth $1,720,000 after acquiring an additional 400 shares in the last quarter. Institutional investors and hedge funds own 99.88% of the company’s stock.

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.