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

Shares of Steven Madden, Ltd. (NASDAQ:SHOO) have been assigned an average recommendation of “Hold” from the seven brokerages that are presently covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $45.43.

Several research firms recently commented 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 report on Friday, November 8th. StockNews.com lowered Steven Madden from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Piper Sandler reaffirmed a “neutral” rating and set a $45.00 price target on shares of Steven Madden in a research note 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 note on Wednesday. Finally, Wedbush reaffirmed a “neutral” rating and set a $41.00 price target on shares of Steven Madden in a research note on Wednesday, August 7th.

Steven Madden Stock Performance

Shares of NASDAQ SHOO opened at $43.23 on Wednesday. The stock has a market cap of $3.12 billion, a PE ratio of 18.40 and a beta of 1.08. Steven Madden has a fifty-two week low of $35.64 and a fifty-two week high of $50.01. The stock has a fifty day moving average of $46.43 and a 200-day moving average of $44.30.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings results 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. The company 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 firm’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.88 earnings per share. On average, sell-side analysts predict that Steven Madden will post 2.65 EPS for the current year.

Steven Madden Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date is Friday, December 13th. Steven Madden’s dividend payout ratio (DPR) is presently 35.74%.

Institutional Investors Weigh In On Steven Madden

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp grew its holdings in shares of Steven Madden by 1.7% during 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 during the period. Capital Research Global Investors grew its holdings in shares of Steven Madden by 8.6% during the 1st quarter. Capital Research Global Investors now owns 1,856,001 shares of the textile maker’s stock worth $78,472,000 after acquiring an additional 146,324 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Steven Madden by 3.1% during 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 during the period. Bank of New York Mellon Corp grew 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 buying an additional 5,451 shares during the last quarter. Finally, Fisher Asset Management LLC grew 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 buying an additional 4,108 shares during the last quarter. Institutional investors 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.