Steven Madden (NASDAQ:SHOO) Lowered to Hold Rating by StockNews.com

StockNews.com lowered shares of Steven Madden (NASDAQ:SHOO) from a buy rating to a hold rating in a report published on Friday.

Other analysts also recently issued research reports about the stock. 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. Wedbush reissued a “neutral” rating and issued a $41.00 price objective on shares of Steven Madden in a research note on Wednesday, August 7th. Citigroup raised their price objective on shares of Steven Madden from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, 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 Thursday, November 7th. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $45.43.

Steven Madden Trading Up 0.4 %

Shares of NASDAQ:SHOO opened at $44.83 on Friday. Steven Madden has a 12 month low of $33.07 and a 12 month high of $50.01. The company has a 50-day moving average price of $46.41 and a 200 day moving average price of $44.25. The company has a market cap of $3.26 billion, a price-to-earnings ratio of 19.08 and a beta of 1.08.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings results on Thursday, November 7th. The textile maker reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.02. The firm 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%. The firm’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.88 EPS. As a group, equities analysts forecast 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 dividend of $0.21 per share. The ex-dividend date is Friday, December 13th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.87%. Steven Madden’s dividend payout ratio is currently 35.74%.

Institutional Trading of Steven Madden

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Gladius Capital Management LP purchased a new stake in Steven Madden during the 3rd quarter valued at about $36,000. Blue Trust Inc. grew its stake in Steven Madden by 9,166.7% during the 2nd quarter. Blue Trust Inc. now owns 834 shares of the textile maker’s stock valued at $35,000 after acquiring an additional 825 shares in the last quarter. Exchange Traded Concepts LLC purchased a new stake in Steven Madden during the 3rd quarter valued at about $59,000. GAMMA Investing LLC grew its stake in 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 acquiring an additional 593 shares in the last quarter. Finally, EntryPoint Capital LLC purchased a new stake in shares of Steven Madden in the 1st quarter valued at approximately $81,000. Hedge funds and other institutional investors own 99.88% of the company’s stock.

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.