Loop Capital Has Lowered Expectations for Steven Madden (NASDAQ:SHOO) Stock Price

Steven Madden (NASDAQ:SHOO) had its target price reduced by Loop Capital from $40.00 to $35.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a hold rating on the textile maker’s stock.

A number of other analysts have also recently commented on SHOO. Jefferies Financial Group restated a “hold” rating on shares of Steven Madden in a report on Monday, February 3rd. Telsey Advisory Group cut their price objective on shares of Steven Madden from $44.00 to $38.00 and set a “market perform” rating on the stock in a report on Thursday. Citigroup decreased their target price on shares of Steven Madden from $38.00 to $35.00 and set a “neutral” rating for the company in a research note on Thursday. Needham & Company LLC reissued a “hold” rating on shares of Steven Madden in a research report on Thursday. Finally, Piper Sandler reduced their price objective on Steven Madden from $45.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. Eight research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Steven Madden currently has a consensus rating of “Hold” and an average price target of $40.33.

Steven Madden Price Performance

Shares of SHOO opened at $32.79 on Thursday. The company has a 50-day simple moving average of $40.07 and a two-hundred day simple moving average of $43.50. The firm has a market capitalization of $2.37 billion, a PE ratio of 13.95 and a beta of 1.07. Steven Madden has a one year low of $32.31 and a one year high of $50.01.

Steven Madden (NASDAQ:SHOO) last released its earnings results on Wednesday, February 26th. The textile maker reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. The company had revenue of $582.32 million during the quarter, compared to analysts’ expectations of $550.37 million. Analysts expect that Steven Madden will post 2.66 EPS for the current fiscal year.

Steven Madden Announces Dividend

The company 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. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.84 dividend on an annualized basis and a yield of 2.56%. Steven Madden’s payout ratio is currently 35.74%.

Institutional Trading of Steven Madden

Institutional investors have recently added to or reduced their stakes in the business. Central Pacific Bank Trust Division lifted its holdings in shares of Steven Madden by 7.4% during 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 lifted its stake in Steven Madden by 7.2% during the 4th quarter. Mariner LLC now owns 4,740 shares of the textile maker’s stock valued at $202,000 after acquiring an additional 319 shares during the period. Moran Wealth Management LLC lifted its stake 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 valued at $898,000 after acquiring an additional 325 shares during the period. Blue Trust Inc. boosted its holdings in shares of Steven Madden by 20.9% during the 4th quarter. Blue Trust Inc. now owns 1,958 shares of the textile maker’s stock valued at $83,000 after acquiring an additional 339 shares during the last quarter. Finally, Louisiana State Employees Retirement System grew its stake in shares of Steven Madden by 1.2% in the third 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 during the period. 99.88% of the stock is currently owned by hedge funds and other institutional investors.

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.