Steven Madden, Ltd. (NASDAQ:SHOO) Short Interest Down 16.6% in March

Steven Madden, Ltd. (NASDAQ:SHOO) saw a large drop in short interest in March. As of March 31st, there was short interest totalling 3,610,000 shares, a drop of 16.6% from the March 15th total of 4,330,000 shares. Approximately 5.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,430,000 shares, the short-interest ratio is presently 2.5 days.

Steven Madden Stock Up 0.5 %

Shares of SHOO stock opened at $19.99 on Tuesday. The business’s fifty day moving average is $27.87 and its 200 day moving average is $37.92. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of 8.51 and a beta of 0.98. Steven Madden has a twelve month low of $19.05 and a twelve month high of $50.01.

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

Steven Madden Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 4.20%. The ex-dividend date of this dividend was Monday, March 10th. Steven Madden’s dividend payout ratio is presently 35.74%.

Analysts Set New Price Targets

A number of equities analysts recently commented on SHOO shares. Needham & Company LLC reiterated a “hold” rating on shares of Steven Madden in a research report on Thursday, February 27th. Telsey Advisory Group decreased their price objective on Steven Madden from $44.00 to $38.00 and set a “market perform” rating on the stock in a report on Thursday, February 27th. StockNews.com cut Steven Madden from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Piper Sandler cut their target price on shares of Steven Madden from $35.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Finally, Loop Capital lowered their price target on shares of Steven Madden from $40.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, February 27th. Eight research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $37.83.

Institutional Trading of Steven Madden

Several institutional investors have recently bought and sold shares of the company. Barclays PLC boosted its stake in Steven Madden by 286.9% during the 3rd quarter. Barclays PLC now owns 139,206 shares of the textile maker’s stock valued at $6,819,000 after purchasing an additional 103,226 shares during the last quarter. Tidal Investments LLC boosted its holdings in shares of Steven Madden by 15.1% during the 3rd quarter. Tidal Investments LLC now owns 17,375 shares of the textile maker’s stock valued at $851,000 after acquiring an additional 2,278 shares during the last quarter. JPMorgan Chase & Co. grew its position in Steven Madden by 5.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 462,096 shares of the textile maker’s stock worth $22,638,000 after purchasing an additional 21,942 shares during the period. Central Pacific Bank Trust Division lifted its holdings in shares of Steven Madden by 7.4% during the 4th quarter. Central Pacific Bank Trust Division now owns 4,202 shares of the textile maker’s stock valued at $179,000 after buying an additional 290 shares during the period. Finally, Harbor Capital Advisors Inc. boosted its stake in shares of Steven Madden by 1.9% in the 4th quarter. Harbor Capital Advisors Inc. now owns 124,271 shares of the textile maker’s stock worth $5,284,000 after buying an additional 2,266 shares during the last quarter. 99.88% of the stock is 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.