StockNews.com Downgrades Steven Madden (NASDAQ:SHOO) to Hold

StockNews.com lowered shares of Steven Madden (NASDAQ:SHOO) from a buy rating to a hold rating in a research note issued to investors on Tuesday.

A number of other research firms have also weighed in on SHOO. Telsey Advisory Group reissued a “market perform” rating and set a $50.00 target price on shares of Steven Madden in a report on Wednesday, November 13th. Citigroup lifted their price objective on shares of Steven Madden from $43.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Steven Madden in a research report on Thursday, December 5th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Steven Madden presently has an average rating of “Hold” and an average price target of $46.33.

Steven Madden Price Performance

Shares of SHOO stock opened at $40.80 on Tuesday. The company has a fifty day moving average price of $43.26 and a two-hundred day moving average price of $44.43. Steven Madden has a one year low of $37.99 and a one year high of $50.01. The stock has a market cap of $2.95 billion, a P/E ratio of 17.36 and a beta of 1.08.

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

Steven Madden Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend was Friday, December 13th. Steven Madden’s dividend payout ratio is currently 35.74%.

Hedge Funds Weigh In On Steven Madden

Several institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC raised its stake in Steven Madden by 8,180.4% in the 3rd quarter. FMR LLC now owns 535,081 shares of the textile maker’s stock worth $26,214,000 after purchasing an additional 528,619 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Steven Madden by 3.0% during the third quarter. Geode Capital Management LLC now owns 1,710,492 shares of the textile maker’s stock worth $83,812,000 after purchasing an additional 49,075 shares during the period. Systematic Financial Management LP raised its position in shares of Steven Madden by 15.9% in the third quarter. Systematic Financial Management LP now owns 439,126 shares of the textile maker’s stock valued at $21,513,000 after buying an additional 60,276 shares in the last quarter. Landscape Capital Management L.L.C. acquired a new stake in shares of Steven Madden in the third quarter valued at approximately $2,614,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of Steven Madden by 5.0% in the third quarter. JPMorgan Chase & Co. now owns 462,096 shares of the textile maker’s stock valued at $22,638,000 after buying an additional 21,942 shares during the period. 99.88% of the stock is currently owned by institutional investors and hedge funds.

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.