Steven Madden (NASDAQ:SHOO) Hits New 52-Week High at $47.33

Steven Madden, Ltd. (NASDAQ:SHOO - Get Free Report) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $47.33 and last traded at $47.28, with a volume of 11896 shares traded. The stock had previously closed at $47.10.

Analyst Upgrades and Downgrades

SHOO has been the subject of a number of recent research reports. StockNews.com lowered Steven Madden from a "buy" rating to a "hold" rating in a research note on Tuesday, August 27th. Wedbush reiterated a "neutral" rating and set a $41.00 price objective on shares of Steven Madden in a research note on Wednesday, August 7th. Piper Sandler restated a "neutral" rating and issued a $45.00 target price on shares of Steven Madden in a research note on Friday, August 23rd. BTIG Research lifted their price target on shares of Steven Madden from $50.00 to $53.00 and gave the stock a "buy" rating in a research note on Thursday, June 6th. Finally, Telsey Advisory Group reissued a "market perform" rating and issued a $44.00 price objective on shares of Steven Madden in a research report on Wednesday, July 31st. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, Steven Madden currently has a consensus rating of "Hold" and an average price target of $44.29.

Steven Madden Stock Performance

The company's fifty day simple moving average is $43.95 and its two-hundred day simple moving average is $42.59. The company has a market capitalization of $3.48 billion, a price-to-earnings ratio of 19.57 and a beta of 1.08.

Steven Madden (NASDAQ:SHOO - Get Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The textile maker reported $0.57 EPS for the quarter, topping the consensus estimate of $0.51 by $0.06. The business had revenue of $523.60 million for the quarter, compared to analysts' expectations of $515.15 million. Steven Madden had a net margin of 8.36% and a return on equity of 23.49%. The company's quarterly revenue was up 17.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.47 earnings per share. Sell-side analysts anticipate that Steven Madden, Ltd. will post 2.62 EPS for the current year.

Steven Madden Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Friday, September 13th will be issued a $0.21 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.77%. Steven Madden's dividend payout ratio (DPR) is 34.71%.

Institutional Trading of Steven Madden

A number of institutional investors and hedge funds have recently modified their holdings of SHOO. Norges Bank bought a new stake in shares of Steven Madden during the 4th quarter valued at about $19,846,000. Ranger Investment Management L.P. boosted its stake in Steven Madden by 36.8% in the fourth quarter. Ranger Investment Management L.P. now owns 560,941 shares of the textile maker's stock valued at $23,560,000 after acquiring an additional 150,852 shares during the period. Capital Research Global Investors grew its holdings in shares of Steven Madden by 8.6% during the first quarter. Capital Research Global Investors now owns 1,856,001 shares of the textile maker's stock valued at $78,472,000 after purchasing an additional 146,324 shares during the last quarter. Edgestream Partners L.P. acquired a new stake in shares of Steven Madden during the 1st quarter worth approximately $5,834,000. Finally, Nicholas Investment Partners LP bought a new stake in shares of Steven Madden in the 2nd quarter worth approximately $4,863,000. 99.88% of the stock is owned by institutional investors and hedge funds.

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.