Steven Madden (NASDAQ:SHOO) Trading Up 9.5% - Time to Buy?

Steven Madden, Ltd. (NASDAQ:SHOO - Get Free Report) shares rose 9.5% during mid-day trading on Monday . The stock traded as high as $27.27 and last traded at $27.40. Approximately 1,262,089 shares changed hands during trading, an increase of 68% from the average daily volume of 752,752 shares. The stock had previously closed at $25.03.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. StockNews.com cut Steven Madden from a "buy" rating to a "hold" rating in a research report on Tuesday, January 14th. Citigroup dropped their target price on shares of Steven Madden from $38.00 to $35.00 and set a "neutral" rating for the company in a research report on Thursday, February 27th. Jefferies Financial Group reiterated a "hold" rating on shares of Steven Madden in a research report on Monday, February 3rd. Telsey Advisory Group lowered their price objective on shares of Steven Madden from $44.00 to $38.00 and set a "market perform" rating for the company in a research report on Thursday, February 27th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Steven Madden in a report on Thursday, February 27th. Eight equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $40.33.

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Steven Madden Trading Down 1.7 %

The company has a market capitalization of $1.93 billion, a P/E ratio of 11.34 and a beta of 1.06. The stock has a 50 day moving average price of $34.52 and a 200 day moving average price of $41.25.

Steven Madden (NASDAQ:SHOO - Get Free Report) last posted its earnings results 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 return on equity of 23.41% and a net margin of 7.68%. The firm had revenue of $582.32 million during the quarter, compared to the consensus estimate of $550.37 million. On average, research analysts predict that Steven Madden, Ltd. 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, March 21st. Investors of record on Monday, March 10th were paid a $0.21 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.84 annualized dividend and a dividend yield of 3.15%. Steven Madden's dividend payout ratio is 35.74%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SHOO. Vanguard Group Inc. raised its position in shares of Steven Madden by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 8,097,339 shares of the textile maker's stock worth $344,299,000 after acquiring an additional 54,877 shares during the last quarter. State Street Corp increased its position in Steven Madden by 1.7% during the 3rd quarter. State Street Corp now owns 2,756,075 shares of the textile maker's stock valued at $135,020,000 after purchasing an additional 47,017 shares during the period. First Trust Advisors LP raised its holdings in Steven Madden by 36.9% during the 4th quarter. First Trust Advisors LP now owns 2,002,228 shares of the textile maker's stock worth $85,135,000 after purchasing an additional 539,738 shares during the last quarter. Invesco Ltd. raised its holdings in Steven Madden by 8.6% during the 4th quarter. Invesco Ltd. now owns 1,745,456 shares of the textile maker's stock worth $74,217,000 after purchasing an additional 138,065 shares during the last quarter. Finally, Pacer Advisors Inc. acquired a new position in shares of Steven Madden in the 4th quarter worth approximately $72,795,000. 99.88% of the stock is owned by institutional investors.

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.