Brokerages Set Steven Madden, Ltd. (NASDAQ:SHOO) Target Price at $37.83

Steven Madden, Ltd. (NASDAQ:SHOO - Get Free Report) has earned an average rating of "Hold" from the eight research firms that are currently covering the company, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $37.83.

SHOO has been the topic of several research reports. StockNews.com cut Steven Madden from a "buy" rating to a "hold" rating in a research note on Tuesday, January 14th. Needham & Company LLC reiterated a "hold" rating on shares of Steven Madden in a research note on Thursday, February 27th. Loop Capital lowered their target price on Steven Madden from $40.00 to $35.00 and set a "hold" rating on the stock in a research report on Thursday, February 27th. Jefferies Financial Group reissued a "hold" rating on shares of Steven Madden in a report on Monday, February 3rd. Finally, Citigroup lowered their price objective on shares of Steven Madden from $38.00 to $35.00 and set a "neutral" rating on the stock in a research note on Thursday, February 27th.

Steven Madden Stock Performance

NASDAQ SHOO traded down $0.76 during trading hours on Friday, reaching $20.25. 1,716,852 shares of the company's stock were exchanged, compared to its average volume of 889,140. Steven Madden has a one year low of $19.05 and a one year high of $50.01. The company's 50-day moving average is $29.65 and its two-hundred day moving average is $38.94. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of 8.62 and a beta of 0.98.

Remove Ads

Steven Madden (NASDAQ:SHOO - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The textile maker reported $0.55 EPS for the quarter, beating the consensus estimate of $0.53 by $0.02. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The business had revenue of $582.32 million for the quarter, compared to analysts' expectations of $550.37 million. Research analysts predict that Steven Madden will post 2.66 earnings per share for the current fiscal year.

Steven Madden Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were paid a $0.21 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.84 annualized dividend and a yield of 4.15%. Steven Madden's dividend payout ratio (DPR) is presently 35.74%.

Institutional Investors Weigh In On Steven Madden

Hedge funds and other institutional investors have recently modified their holdings of the company. Pacer Advisors Inc. bought a new position in Steven Madden during the fourth quarter worth about $72,795,000. First Trust Advisors LP raised its position in shares of Steven Madden by 36.9% in the fourth quarter. First Trust Advisors LP now owns 2,002,228 shares of the textile maker's stock valued at $85,135,000 after buying an additional 539,738 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Steven Madden during the fourth quarter worth approximately $13,652,000. Norges Bank bought a new position in Steven Madden during the 4th quarter worth $9,399,000. Finally, Trexquant Investment LP raised its holdings in Steven Madden by 147.3% in the 4th quarter. Trexquant Investment LP now owns 257,334 shares of the textile maker's stock valued at $10,942,000 after acquiring an additional 153,280 shares in the last quarter. Institutional investors and hedge funds own 99.88% of the company's stock.

Steven Madden Company Profile

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.