Steven Madden, Ltd. (NASDAQ:SHOO) Given Average Recommendation of "Hold" by Brokerages

Shares of Steven Madden, Ltd. (NASDAQ:SHOO - Get Free Report) have been given a consensus recommendation of "Hold" by the seven analysts that are covering the firm, MarketBeat reports. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $44.29.

A number of analysts have recently weighed in on the stock. Wedbush restated a "neutral" rating and issued a $41.00 price target on shares of Steven Madden in a report on Wednesday, August 7th. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $44.00 price target on shares of Steven Madden in a report on Wednesday, July 31st. StockNews.com upgraded Steven Madden from a "hold" rating to a "buy" rating in a report on Wednesday, September 18th. Finally, Piper Sandler restated a "neutral" rating and set a $45.00 target price on shares of Steven Madden in a research note on Friday, August 23rd.

Steven Madden Stock Performance

Steven Madden stock traded down $0.05 during midday trading on Friday, hitting $48.56. 669,848 shares of the company's stock were exchanged, compared to its average volume of 699,227. Steven Madden has a 12 month low of $31.56 and a 12 month high of $50.01. The company has a market cap of $3.56 billion, a PE ratio of 20.07 and a beta of 1.08. The firm has a 50-day moving average of $46.05 and a two-hundred day moving average of $43.62.

Steven Madden (NASDAQ:SHOO - Get Free Report) last posted its earnings results on Wednesday, July 31st. The textile maker reported $0.57 earnings per share for the quarter, topping analysts' consensus estimates of $0.51 by $0.06. Steven Madden had a return on equity of 23.49% and a net margin of 8.36%. The company had revenue of $523.60 million during the quarter, compared to analyst estimates of $515.15 million. During the same quarter in the prior year, the business earned $0.47 earnings per share. Steven Madden's revenue was up 17.6% on a year-over-year basis. As a group, equities analysts expect that Steven Madden will post 2.62 earnings per share for the current year.

Steven Madden Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Friday, September 13th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.73%. The ex-dividend date was Friday, September 13th. Steven Madden's payout ratio is 34.71%.

Institutional Trading of Steven Madden

A number of institutional investors have recently made changes to their positions in the company. Capital Research Global Investors raised its stake in 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 worth $78,472,000 after purchasing an additional 146,324 shares during the period. Edgestream Partners L.P. purchased a new position in Steven Madden in the first quarter worth approximately $5,834,000. Nicholas Investment Partners LP acquired a new stake in Steven Madden during the second quarter worth $4,863,000. Squarepoint Ops LLC purchased a new stake in Steven Madden in the second quarter valued at $4,550,000. Finally, Goldman Sachs Group Inc. raised its position in Steven Madden by 19.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 463,515 shares of the textile maker's stock valued at $19,468,000 after purchasing an additional 75,034 shares during the period. 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.