Steven Madden's (SHOO) Market Perform Rating Reiterated at Telsey Advisory Group

Telsey Advisory Group reiterated their market perform rating on shares of Steven Madden (NASDAQ:SHOO - Free Report) in a research report sent to investors on Thursday morning,Benzinga reports. Telsey Advisory Group currently has a $50.00 target price on the textile maker's stock.

SHOO has been the subject of several other research reports. Piper Sandler reissued a "neutral" rating and issued a $45.00 price objective on shares of Steven Madden in a report on Friday, August 23rd. Wedbush reissued a "neutral" rating and issued a $41.00 price objective on shares of Steven Madden in a report on Wednesday, August 7th. Finally, StockNews.com raised Steven Madden from a "hold" rating to a "buy" rating in a report on Wednesday, September 18th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, Steven Madden currently has an average rating of "Hold" and a consensus target price of $45.14.

Steven Madden Price Performance

Shares of Steven Madden stock traded up $1.37 during trading hours on Thursday, hitting $45.60. 1,559,890 shares of the company's stock traded hands, compared to its average volume of 704,593. Steven Madden has a 12-month low of $32.65 and a 12-month high of $50.01. The stock has a market capitalization of $3.31 billion, a price-to-earnings ratio of 17.92 and a beta of 1.08. The company has a fifty day simple moving average of $46.40 and a 200-day simple moving average of $44.12.

Steven Madden Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Friday, September 13th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend was Friday, September 13th. Steven Madden's payout ratio is presently 34.29%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Quest Partners LLC purchased a new position in Steven Madden during the 3rd quarter valued at about $410,000. Swiss National Bank boosted its position in shares of Steven Madden by 3.6% during the 3rd quarter. Swiss National Bank now owns 143,325 shares of the textile maker's stock valued at $7,021,000 after acquiring an additional 5,000 shares during the last quarter. Gladius Capital Management LP bought a new stake in shares of Steven Madden during the 3rd quarter valued at about $36,000. Natixis Advisors LLC boosted its position in shares of Steven Madden by 2.9% during the 3rd quarter. Natixis Advisors LLC now owns 40,735 shares of the textile maker's stock valued at $1,996,000 after acquiring an additional 1,155 shares during the last quarter. Finally, KBC Group NV boosted its position in shares of Steven Madden by 34.1% during the 3rd quarter. KBC Group NV now owns 2,208 shares of the textile maker's stock valued at $108,000 after acquiring an additional 561 shares during the last quarter. Hedge funds and other institutional investors own 99.88% of the company's stock.

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.