Steven Madden (NASDAQ:SHOO) Given "Hold" Rating at Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Steven Madden (NASDAQ:SHOO - Free Report) in a research note released on Thursday morning,Benzinga reports.

A number of other equities research analysts have also issued reports on the stock. StockNews.com lowered shares of Steven Madden from a "buy" rating to a "hold" rating in a report on Tuesday, January 14th. Piper Sandler cut their target price on Steven Madden from $45.00 to $40.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 4th. Telsey Advisory Group lowered their price target on Steven Madden from $44.00 to $38.00 and set a "market perform" rating for the company in a research report on Thursday. Citigroup dropped their price objective on Steven Madden from $45.00 to $38.00 and set a "neutral" rating for the company in a report on Tuesday, February 4th. Finally, Jefferies Financial Group reissued a "hold" rating on shares of Steven Madden in a research note on Monday, February 3rd. Eight research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Steven Madden presently has an average rating of "Hold" and an average price target of $40.33.

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Steven Madden Trading Down 7.1 %

Shares of SHOO stock traded down $2.34 during trading hours on Thursday, hitting $30.45. 1,635,008 shares of the company's stock were exchanged, compared to its average volume of 860,104. Steven Madden has a 12-month low of $30.43 and a 12-month high of $50.01. The company has a market capitalization of $2.20 billion, a PE ratio of 12.96 and a beta of 1.07. The business's 50 day simple moving average is $40.07 and its 200-day simple moving average is $43.50.

Steven Madden (NASDAQ:SHOO - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The textile maker reported $0.55 earnings per share (EPS) for the quarter, topping 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 business had revenue of $582.32 million for the quarter, compared to analyst estimates of $550.37 million. Equities analysts anticipate that Steven Madden will post 2.66 EPS for the current year.

Steven Madden Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, March 10th. This represents a $0.84 annualized dividend and a dividend yield of 2.76%. Steven Madden's dividend payout ratio is presently 35.74%.

Hedge Funds Weigh In On Steven Madden

A number of institutional investors have recently added to or reduced their stakes in SHOO. PharVision Advisers LLC purchased a new stake in shares of Steven Madden in the 4th quarter worth about $226,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Steven Madden by 12.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 191,667 shares of the textile maker's stock worth $8,150,000 after purchasing an additional 21,270 shares during the period. iSAM Funds UK Ltd purchased a new stake in Steven Madden in the fourth quarter worth about $350,000. Vident Advisory LLC increased its stake in shares of Steven Madden by 4.6% during the fourth quarter. Vident Advisory LLC now owns 17,267 shares of the textile maker's stock valued at $734,000 after purchasing an additional 756 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its holdings in shares of Steven Madden by 24.7% during the fourth quarter. Two Sigma Advisers LP now owns 96,400 shares of the textile maker's stock valued at $4,099,000 after purchasing an additional 19,100 shares during the last quarter. 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.