Steven Madden (NASDAQ:SHOO) Cut to Strong Sell at Zacks Research

Zacks Research lowered shares of Steven Madden (NASDAQ:SHOO) from a hold rating to a strong sell rating in a research report released on Tuesday morning,Zacks.com reports.

A number of other brokerages have also recently issued reports on SHOO. Weiss Ratings restated a “hold (c)” rating on shares of Steven Madden in a report on Thursday, January 22nd. Needham & Company LLC dropped their price target on Steven Madden from $50.00 to $41.00 and set a “buy” rating for the company in a report on Wednesday, February 25th. UBS Group restated a “neutral” rating on shares of Steven Madden in a research note on Monday, February 23rd. BTIG Research reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Steven Madden in a report on Thursday, February 26th. Finally, Williams Trading set a $48.00 price objective on Steven Madden in a research report on Tuesday. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Steven Madden has an average rating of “Hold” and an average price target of $44.00.

Steven Madden Price Performance

Shares of SHOO opened at $32.61 on Tuesday. The company’s 50-day moving average is $40.37 and its 200-day moving average is $37.87. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.90 and a quick ratio of 1.11. The firm has a market capitalization of $2.38 billion, a PE ratio of 52.60 and a beta of 1.13. Steven Madden has a fifty-two week low of $19.05 and a fifty-two week high of $46.88.

Steven Madden (NASDAQ:SHOO) last announced its earnings results on Wednesday, February 25th. The textile maker reported $0.48 EPS for the quarter, topping the consensus estimate of $0.46 by $0.02. The business had revenue of $753.70 million during the quarter, compared to the consensus estimate of $758.53 million. Steven Madden had a net margin of 1.76% and a return on equity of 13.60%. Steven Madden’s revenue was up 29.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.55 EPS. Equities analysts forecast that Steven Madden will post 2.66 EPS for the current year.

Steven Madden Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Wednesday, March 11th will be paid a $0.21 dividend. The ex-dividend date is Wednesday, March 11th. This represents a $0.84 annualized dividend and a dividend yield of 2.6%. Steven Madden’s dividend payout ratio (DPR) is presently 135.48%.

Insider Buying and Selling at Steven Madden

In related news, Director Arian Simone Reed sold 3,600 shares of the company’s stock in a transaction that occurred 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 transaction, the director directly owned 8,705 shares in the company, valued at $291,095.20. This represents a 29.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.22% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Steven Madden

Several large investors have recently modified their holdings of the business. Scopus Asset Management L.P. acquired a new position in shares of Steven Madden during the third quarter worth $36,451,000. Boston Partners acquired a new stake in Steven Madden in the third quarter valued at $33,319,000. Invesco Ltd. raised its position in Steven Madden by 50.5% during the 2nd quarter. Invesco Ltd. now owns 2,426,926 shares of the textile maker’s stock worth $58,198,000 after purchasing an additional 814,318 shares during the last quarter. Neumeier Poma Investment Counsel LLC raised its position in Steven Madden by 155.9% during the 3rd quarter. Neumeier Poma Investment Counsel LLC now owns 955,010 shares of the textile maker’s stock worth $31,974,000 after purchasing an additional 581,745 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in Steven Madden by 1,170.4% during the 1st quarter. Millennium Management LLC now owns 617,049 shares of the textile maker’s stock worth $16,438,000 after buying an additional 568,477 shares during the period. Institutional investors own 99.88% of the company’s stock.

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.