Brokerages Set Steven Madden, Ltd. (NASDAQ:SHOO) Price Target at $44.29

Steven Madden, Ltd. (NASDAQ:SHOO) has been given an average recommendation of “Hold” by the seven ratings firms that are presently covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $44.29.

Several brokerages recently commented on SHOO. Telsey Advisory Group restated a “market perform” rating and issued a $44.00 price target on shares of Steven Madden in a research report on Wednesday, July 31st. Wedbush restated a “neutral” rating and issued a $41.00 target price on shares of Steven Madden in a report on Wednesday, August 7th. StockNews.com upgraded Steven Madden from a “hold” rating to a “buy” rating in a report on Wednesday, September 18th. Finally, Piper Sandler reissued a “neutral” rating and issued a $45.00 price objective on shares of Steven Madden in a research note on Friday, August 23rd.

Steven Madden Stock Down 3.4 %

Shares of NASDAQ SHOO opened at $46.93 on Friday. Steven Madden has a 12 month low of $31.56 and a 12 month high of $50.01. The company has a market cap of $3.41 billion, a price-to-earnings ratio of 19.16 and a beta of 1.08. The business has a fifty day simple moving average of $46.05 and a 200-day simple moving average of $43.64.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings data on Wednesday, July 31st. The textile maker reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.06. Steven Madden had a return on equity of 23.49% and a net margin of 8.36%. The firm had revenue of $523.60 million for the quarter, compared to the consensus estimate of $515.15 million. During the same quarter in the previous year, the company earned $0.47 EPS. The business’s revenue for the quarter was up 17.6% compared to the same quarter last year. As a group, sell-side analysts expect that Steven Madden will post 2.62 EPS for the current fiscal year.

Steven Madden Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Friday, September 13th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.84 dividend on an annualized basis and a yield of 1.79%. Steven Madden’s payout ratio is 34.29%.

Institutional Investors Weigh In On Steven Madden

Several institutional investors have recently made changes to their positions in SHOO. Blue Trust Inc. increased its holdings in Steven Madden by 9,166.7% in the second quarter. Blue Trust Inc. now owns 834 shares of the textile maker’s stock worth $35,000 after buying an additional 825 shares during the last quarter. Fidelis Capital Partners LLC bought a new stake in Steven Madden in the first quarter worth approximately $47,000. Exchange Traded Concepts LLC acquired a new position in shares of Steven Madden during the 3rd quarter worth $59,000. GAMMA Investing LLC raised its holdings in shares of Steven Madden by 80.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,329 shares of the textile maker’s stock valued at $65,000 after purchasing an additional 593 shares in the last quarter. Finally, EntryPoint Capital LLC acquired a new stake in shares of Steven Madden in the 1st quarter valued at $81,000. 99.88% of the stock is currently owned by institutional investors and hedge funds.

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.