Piper Sandler Cuts Steven Madden (NASDAQ:SHOO) Price Target to $40.00

Steven Madden (NASDAQ:SHOO - Free Report) had its price objective decreased by Piper Sandler from $45.00 to $40.00 in a research report report published on Tuesday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the textile maker's stock.

Several other equities research analysts have also recently commented on SHOO. Citigroup upped their price target on Steven Madden from $43.00 to $45.00 and gave the stock a "neutral" rating in a research note on Friday, November 8th. StockNews.com downgraded shares of Steven Madden from a "buy" rating to a "hold" rating in a report on Tuesday, January 14th. Telsey Advisory Group dropped their target price on Steven Madden from $50.00 to $44.00 and set a "market perform" rating on the stock in a research report on Tuesday. Finally, Needham & Company LLC restated a "hold" rating on shares of Steven Madden in a research note 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 data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $43.33.

Steven Madden Stock Down 0.9 %

NASDAQ:SHOO traded down $0.32 during trading hours on Tuesday, reaching $37.28. 692,775 shares of the company's stock were exchanged, compared to its average volume of 664,211. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of 15.86 and a beta of 1.07. Steven Madden has a 1-year low of $36.88 and a 1-year high of $50.01. The company has a 50-day moving average of $42.15 and a 200 day moving average of $44.12.

Steven Madden (NASDAQ:SHOO - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The textile maker reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.89 by $0.02. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. The firm had revenue of $624.68 million for the quarter, compared to analyst estimates of $607.89 million. During the same quarter last year, the company posted $0.88 earnings per share. The business's revenue was up 13.0% on a year-over-year basis. Research analysts forecast that Steven Madden will post 2.66 EPS for the current fiscal year.

Steven Madden Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were given a $0.21 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.84 annualized dividend and a dividend yield of 2.25%. Steven Madden's dividend payout ratio is presently 35.74%.

Institutional Investors Weigh In On Steven Madden

Institutional investors and hedge funds have recently bought and sold shares of the stock. Central Pacific Bank Trust Division raised its position in shares of Steven Madden by 7.4% in the fourth quarter. Central Pacific Bank Trust Division now owns 4,202 shares of the textile maker's stock valued at $179,000 after buying an additional 290 shares during the last quarter. Moran Wealth Management LLC lifted its stake in shares of Steven Madden by 1.6% during the 4th quarter. Moran Wealth Management LLC now owns 21,126 shares of the textile maker's stock worth $898,000 after purchasing an additional 325 shares during the period. Blue Trust Inc. lifted its stake in shares of Steven Madden by 20.9% during the 4th quarter. Blue Trust Inc. now owns 1,958 shares of the textile maker's stock worth $83,000 after purchasing an additional 339 shares during the period. Louisiana State Employees Retirement System grew its position in shares of Steven Madden by 1.2% in the third quarter. Louisiana State Employees Retirement System now owns 35,100 shares of the textile maker's stock valued at $1,720,000 after purchasing an additional 400 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in Steven Madden by 1.2% in the second quarter. The Manufacturers Life Insurance Company now owns 40,141 shares of the textile maker's stock valued at $1,698,000 after purchasing an additional 484 shares during the last quarter. 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.