Steven Madden (NASDAQ:SHOO) Upgraded at Zacks Research

Zacks Research upgraded shares of Steven Madden (NASDAQ:SHOO) from a strong sell rating to a hold rating in a research report sent to investors on Wednesday morning,Zacks.com reports.

A number of other research analysts have also weighed in on SHOO. Needham & Company LLC decreased their price target on shares of Steven Madden from $50.00 to $41.00 and set a “buy” rating on the stock in a research note on Wednesday, February 25th. UBS Group reaffirmed a “neutral” rating on shares of Steven Madden in a research note on Monday, February 23rd. Jefferies Financial Group lowered shares of Steven Madden from a “hold” rating to an “underperform” rating and set a $30.00 price target on the stock. in a research note on Thursday, February 5th. Williams Trading set a $48.00 price target on shares of Steven Madden in a research note on Tuesday, March 10th. Finally, BTIG Research reissued a “buy” rating and issued a $50.00 target price on shares of Steven Madden in a research note on Thursday, February 26th. Five investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Steven Madden has an average rating of “Hold” and an average price target of $44.00.

Steven Madden Trading Down 0.5%

Shares of Steven Madden stock opened at $37.98 on Wednesday. The firm has a market capitalization of $2.77 billion, a PE ratio of 61.25 and a beta of 1.13. Steven Madden has a twelve month low of $19.06 and a twelve month high of $46.88. The firm’s 50-day moving average price is $35.85 and its 200 day moving average price is $38.38. The company has a current ratio of 1.90, a quick ratio of 1.11 and a debt-to-equity ratio of 0.26.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings results on Wednesday, February 25th. The textile maker reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.02. The firm had revenue of $753.70 million for the quarter, compared to analyst estimates of $758.53 million. Steven Madden had a net margin of 1.76% and a return on equity of 13.60%. Steven Madden’s quarterly revenue was up 29.6% compared to the same quarter last year. During the same period last year, the company posted $0.55 EPS. On average, sell-side analysts predict 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 was paid on Friday, March 20th. Stockholders of record on Wednesday, March 11th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Wednesday, March 11th. Steven Madden’s payout ratio is 135.48%.

Insider Activity

In other news, Director Arian Simone Reed sold 3,600 shares of Steven Madden stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $33.44, for a total transaction of $120,384.00. Following the completion of the sale, the director directly owned 8,705 shares of the company’s stock, valued at approximately $291,095.20. The trade was a 29.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.22% of the company’s stock.

Institutional Investors Weigh In On Steven Madden

Institutional investors and hedge funds have recently bought and sold shares of the stock. Los Angeles Capital Management LLC purchased a new stake in Steven Madden in the fourth quarter valued at $30,000. Global Retirement Partners LLC increased its stake in Steven Madden by 1,064.3% in the fourth quarter. Global Retirement Partners LLC now owns 815 shares of the textile maker’s stock valued at $34,000 after purchasing an additional 745 shares during the period. First Horizon Corp increased its stake in Steven Madden by 55.1% in the fourth quarter. First Horizon Corp now owns 892 shares of the textile maker’s stock valued at $37,000 after purchasing an additional 317 shares during the period. SBI Securities Co. Ltd. acquired a new position in Steven Madden in the third quarter valued at $31,000. Finally, Farther Finance Advisors LLC increased its stake in Steven Madden by 79.4% in the fourth quarter. Farther Finance Advisors LLC now owns 983 shares of the textile maker’s stock valued at $41,000 after purchasing an additional 435 shares during the period. 99.88% of the stock is owned by hedge funds and other institutional investors.

Steven Madden Company Profile

Steven Madden, Inc (NASDAQ: SHOO) is a New York–based designer and marketer of fashion footwear, handbags and accessories. The company’s product portfolio spans a range of contemporary and lifestyle brands for women, men and children, including its core Steve Madden label as well as the Madden Girl and Dolce Vita brands. In addition to footwear, the company licenses its trademarks for use on apparel, eyewear and other fashion accessories.

Steven Madden distributes its products through multiple channels, including wholesale partners, e-commerce platforms and its own brick-and-mortar retail stores.