Steven Madden (NASDAQ:SHOO) Given Buy Rating at BTIG Research

BTIG Research restated their buy rating on shares of Steven Madden (NASDAQ:SHOO) in a research note released on Monday morning,Benzinga reports. They currently have a $50.00 price target on the textile maker’s stock.

A number of other equities analysts have also commented on the stock. Needham & Company LLC lifted their price target on shares of Steven Madden from $45.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, June 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Steven Madden in a report on Friday, July 17th. UBS Group reiterated a “neutral” rating and issued a $40.00 target price (up from $38.00) on shares of Steven Madden in a report on Monday, April 27th. Zacks Research upgraded shares of Steven Madden from a “hold” rating to a “strong-buy” rating in a report on Monday, July 6th. Finally, Wall Street Zen raised Steven Madden from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Steven Madden presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.12.

Steven Madden Stock Performance

Shares of NASDAQ SHOO opened at $43.53 on Monday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.42 and a current ratio of 2.23. The firm has a market cap of $3.18 billion, a price-to-earnings ratio of 41.46 and a beta of 1.15. The business’s 50-day simple moving average is $42.74 and its 200-day simple moving average is $39.91. Steven Madden has a 52 week low of $22.26 and a 52 week high of $47.10.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings data on Wednesday, May 6th. The textile maker reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.03. Steven Madden had a return on equity of 12.29% and a net margin of 2.89%.The business had revenue of $653.10 million for the quarter, compared to the consensus estimate of $646.64 million. During the same period last year, the business earned $0.60 EPS. The firm’s revenue was up 18.0% compared to the same quarter last year. Steven Madden has set its FY 2026 guidance at 2.000-2.100 EPS. As a group, equities research analysts expect that Steven Madden will post 2.1 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, June 19th. Investors of record on Monday, June 8th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.9%. The ex-dividend date was Monday, June 8th. Steven Madden’s dividend payout ratio is presently 80.00%.

Insiders Place Their Bets

In related news, insider Christina Ciglar sold 5,147 shares of the stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $44.74, for a total value of $230,276.78. Following the completion of the sale, the insider owned 35,200 shares in the company, valued at approximately $1,574,848. This trade represents a 12.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Arian Simone Reed sold 648 shares of Steven Madden stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $39.97, for a total value of $25,900.56. Following the sale, the director directly owned 8,057 shares in the company, valued at approximately $322,038.29. This trade represents a 7.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 6,270 shares of company stock valued at $276,992. Insiders own 2.21% of the company’s stock.

Hedge Funds Weigh In On Steven Madden

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Scopus Asset Management L.P. bought a new stake in shares of Steven Madden in the 3rd quarter worth approximately $36,451,000. Boston Partners bought a new stake in shares of Steven Madden during the third quarter valued at approximately $33,319,000. Invesco Ltd. raised its stake in shares of Steven Madden by 50.5% in the second quarter. Invesco Ltd. now owns 2,426,926 shares of the textile maker’s stock valued at $58,198,000 after purchasing an additional 814,318 shares in the last quarter. Millennium Management LLC raised its stake in shares of Steven Madden by 1,170.4% in the first quarter. Millennium Management LLC now owns 617,049 shares of the textile maker’s stock valued at $16,438,000 after purchasing an additional 568,477 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in Steven Madden by 18.1% in the third quarter. Wellington Management Group LLP now owns 3,453,208 shares of the textile maker’s stock worth $115,613,000 after purchasing an additional 528,829 shares during the period. 99.88% of the stock is currently owned by 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.