Steven Madden (NASDAQ:SHOO) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Steven Madden (NASDAQ:SHOO - Free Report) from a buy rating to a hold rating in a research report report published on Tuesday.

SHOO has been the topic of several other reports. Telsey Advisory Group reissued a "market perform" rating and set a $50.00 target price on shares of Steven Madden in a research note on Wednesday, November 13th. Citigroup lifted their price target on shares of Steven Madden from $43.00 to $45.00 and gave the company a "neutral" rating in a research note on Friday, November 8th. Finally, Needham & Company LLC restated a "hold" rating on shares of Steven Madden in a research report on Thursday, December 5th. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $46.33.

Steven Madden Price Performance

SHOO traded up $0.39 during trading on Tuesday, reaching $40.65. 184,883 shares of the company's stock were exchanged, compared to its average volume of 563,205. The company's fifty day simple moving average is $43.41 and its 200-day simple moving average is $44.46. The stock has a market capitalization of $2.93 billion, a P/E ratio of 17.30 and a beta of 1.08. Steven Madden has a 1 year low of $37.99 and a 1 year high of $50.01.

Steven Madden (NASDAQ:SHOO - Get Free Report) last posted its quarterly earnings results 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 company had revenue of $624.68 million for the quarter, compared to analyst estimates of $607.89 million. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The firm's revenue was up 13.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.88 earnings per share. Equities analysts forecast that Steven Madden will post 2.66 EPS for the current year.

Steven Madden Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were issued a $0.21 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.84 dividend on an annualized basis and a yield of 2.07%. Steven Madden's payout ratio is 35.74%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. lifted its position in Steven Madden by 30.0% during the second quarter. Oppenheimer Asset Management Inc. now owns 9,268 shares of the textile maker's stock worth $392,000 after buying an additional 2,140 shares in the last quarter. Intech Investment Management LLC purchased a new position in shares of Steven Madden during the 2nd quarter worth $335,000. Sei Investments Co. boosted its position in shares of Steven Madden by 0.5% during the 2nd quarter. Sei Investments Co. now owns 125,678 shares of the textile maker's stock valued at $5,316,000 after acquiring an additional 590 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in shares of Steven Madden by 51.9% during the 2nd quarter. Thrivent Financial for Lutherans now owns 92,434 shares of the textile maker's stock valued at $3,910,000 after acquiring an additional 31,594 shares during the last quarter. Finally, Public Sector Pension Investment Board grew its holdings in shares of Steven Madden by 5.5% in the second quarter. Public Sector Pension Investment Board now owns 151,728 shares of the textile maker's stock valued at $6,418,000 after purchasing an additional 7,972 shares during the period. 99.88% of the stock is currently 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.