Steven Madden, Ltd. (NASDAQ:SHOO) Receives Consensus Rating of "Hold" from Brokerages

Shares of Steven Madden, Ltd. (NASDAQ:SHOO - Get Free Report) have earned a consensus rating of "Hold" from the seven brokerages that are presently covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $45.43.

Several analysts recently issued reports on SHOO shares. StockNews.com downgraded Steven Madden from a "buy" rating to a "hold" rating in a research note on Friday, November 8th. Citigroup lifted their price objective on shares of Steven Madden from $43.00 to $45.00 and gave the company a "neutral" rating in a research report on Friday, November 8th. Wedbush restated a "neutral" rating and set a $41.00 target price on shares of Steven Madden in a research report on Wednesday, August 7th. Piper Sandler reiterated a "neutral" rating and issued a $45.00 price target on shares of Steven Madden in a report on Friday, August 23rd. Finally, Telsey Advisory Group reissued a "market perform" rating and set a $50.00 price objective on shares of Steven Madden in a report on Thursday, November 7th.

Steven Madden Price Performance

Shares of SHOO traded down $0.57 on Wednesday, reaching $44.40. The company's stock had a trading volume of 546,215 shares, compared to its average volume of 707,846. Steven Madden has a 12-month low of $34.92 and a 12-month high of $50.01. The stock's 50 day simple moving average is $46.41 and its two-hundred day simple moving average is $44.28. The stock has a market capitalization of $3.21 billion, a P/E ratio of 19.19 and a beta of 1.08.

Steven Madden (NASDAQ:SHOO - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The textile maker reported $0.91 EPS for the quarter, beating the consensus estimate of $0.89 by $0.02. The firm had revenue of $624.68 million for the quarter, compared to the consensus estimate of $607.89 million. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The company's revenue was up 13.0% on a year-over-year basis. During the same period last year, the firm earned $0.88 EPS. Analysts expect that Steven Madden will post 2.65 earnings per share for the current year.

Steven Madden Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend is Friday, December 13th. Steven Madden's dividend payout ratio (DPR) is currently 35.74%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Blue Trust Inc. grew its stake in Steven Madden by 9,166.7% in the second quarter. Blue Trust Inc. now owns 834 shares of the textile maker's stock worth $35,000 after purchasing an additional 825 shares in the last quarter. Gladius Capital Management LP bought a new position in Steven Madden in the third quarter worth approximately $36,000. Exchange Traded Concepts LLC bought a new stake in Steven Madden during the 3rd quarter valued at $59,000. GAMMA Investing LLC increased its holdings in shares of Steven Madden by 80.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,329 shares of the textile maker's stock valued at $65,000 after acquiring an additional 593 shares during the period. Finally, EntryPoint Capital LLC acquired a new position in Steven Madden during the 1st quarter valued at about $81,000. Hedge funds and other institutional investors own 99.88% of the company's stock.

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.