Steven Madden, Ltd. (NASDAQ:SHOO) Receives Consensus Recommendation of “Hold” from Analysts

Steven Madden, Ltd. (NASDAQ:SHOO) has been given an average rating of “Hold” by the seven ratings firms that are covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $41.38.

Several equities analysts have recently commented on the stock. Jefferies Financial Group restated a “hold” rating and issued a $40.00 price objective on shares of Steven Madden in a report on Thursday, January 4th. Williams Trading restated a “hold” rating and issued a $44.00 price objective on shares of Steven Madden in a report on Wednesday, February 21st. Piper Sandler assumed coverage on shares of Steven Madden in a report on Wednesday, February 14th. They set a “neutral” rating and a $45.00 target price on the stock. StockNews.com upgraded shares of Steven Madden from a “hold” rating to a “buy” rating in a report on Thursday, February 29th. Finally, Wedbush increased their target price on shares of Steven Madden from $36.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, February 7th.

Steven Madden Price Performance

NASDAQ:SHOO opened at $40.48 on Friday. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of 17.60 and a beta of 1.16. The company’s 50-day moving average is $41.49 and its two-hundred day moving average is $39.68. Steven Madden has a 1-year low of $29.92 and a 1-year high of $45.63.

Steven Madden (NASDAQ:SHOO) last posted its earnings results on Wednesday, February 28th. The textile maker reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.05. Steven Madden had a net margin of 8.67% and a return on equity of 21.61%. The company had revenue of $519.71 million for the quarter, compared to analyst estimates of $511.96 million. During the same period in the previous year, the business posted $0.44 EPS. Steven Madden’s revenue was up 10.4% on a year-over-year basis. As a group, equities analysts anticipate that Steven Madden will post 2.61 earnings per share for the current fiscal year.

Steven Madden Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date was Thursday, March 7th. Steven Madden’s dividend payout ratio (DPR) is 36.52%.

Insiders Place Their Bets

In other Steven Madden news, CEO Edward R. Rosenfeld sold 48,500 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $41.49, for a total transaction of $2,012,265.00. Following the transaction, the chief executive officer now directly owns 697,038 shares of the company’s stock, valued at approximately $28,920,106.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Edward R. Rosenfeld sold 48,500 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $41.49, for a total value of $2,012,265.00. Following the completion of the sale, the chief executive officer now owns 697,038 shares in the company, valued at approximately $28,920,106.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Peter Allan Davis sold 1,200 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $42.13, for a total transaction of $50,556.00. Following the completion of the sale, the director now owns 5,751 shares of the company’s stock, valued at approximately $242,289.63. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,346 shares of company stock valued at $2,464,841. Insiders own 2.01% of the company’s stock.

Institutional Trading of Steven Madden

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Pacer Advisors Inc. grew its holdings in shares of Steven Madden by 30.7% during the fourth quarter. Pacer Advisors Inc. now owns 1,469,956 shares of the textile maker’s stock worth $61,738,000 after buying an additional 345,558 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Steven Madden by 1.0% during the third quarter. Vanguard Group Inc. now owns 8,329,605 shares of the textile maker’s stock worth $264,632,000 after buying an additional 80,199 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Steven Madden by 1.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,365 shares of the textile maker’s stock worth $1,092,000 after buying an additional 482 shares in the last quarter. Raymond James & Associates grew its holdings in shares of Steven Madden by 4.1% during the fourth quarter. Raymond James & Associates now owns 105,879 shares of the textile maker’s stock worth $4,447,000 after buying an additional 4,136 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Steven Madden by 5.3% during the third quarter. Wellington Management Group LLP now owns 6,264,768 shares of the textile maker’s stock worth $199,032,000 after buying an additional 316,676 shares in the last quarter. Institutional investors and hedge funds 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.