Steven Madden, Ltd. (NASDAQ:SHOO) Receives Consensus Rating of “Hold” from Brokerages

Shares of Steven Madden, Ltd. (NASDAQ:SHOO) have been assigned an average rating of “Hold” from the seven brokerages that are currently covering the company, MarketBeat.com reports. Six analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $43.38.

SHOO has been the topic of several research analyst reports. Wedbush restated a “neutral” rating and set a $41.00 target price on shares of Steven Madden in a research report on Friday, May 17th. Telsey Advisory Group restated a “market perform” rating and set a $44.00 target price on shares of Steven Madden in a research report on Friday, April 26th. Finally, BTIG Research boosted their target price on shares of Steven Madden from $50.00 to $53.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th.

Steven Madden Stock Performance

Shares of SHOO opened at $43.99 on Thursday. The stock has a market capitalization of $3.23 billion, a P/E ratio of 18.18 and a beta of 1.09. The company’s fifty day moving average is $42.97 and its two-hundred day moving average is $42.08. Steven Madden has a 1 year low of $30.35 and a 1 year high of $45.91.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings data on Wednesday, May 1st. The textile maker reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.09. The company had revenue of $552.38 million for the quarter, compared to analysts’ expectations of $525.04 million. Steven Madden had a net margin of 8.65% and a return on equity of 22.68%. Steven Madden’s revenue was up 19.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.50 EPS. Sell-side analysts predict that Steven Madden will post 2.62 EPS for the current year.

Steven Madden Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Monday, June 10th were given a $0.21 dividend. The ex-dividend date was Monday, June 10th. This represents a $0.84 annualized dividend and a dividend yield of 1.91%. Steven Madden’s dividend payout ratio is presently 34.71%.

Insider Buying and Selling

In related news, insider Karla Frieders sold 10,000 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $44.91, for a total value of $449,100.00. Following the sale, the insider now directly owns 86,658 shares in the company, valued at approximately $3,891,810.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Steven Madden news, Director Rose Peabody Lynch sold 1,600 shares of the company’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $44.41, for a total value of $71,056.00. Following the transaction, the director now directly owns 21,303 shares in the company, valued at approximately $946,066.23. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Karla Frieders sold 10,000 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $44.91, for a total transaction of $449,100.00. Following the completion of the transaction, the insider now owns 86,658 shares in the company, valued at $3,891,810.78. The disclosure for this sale can be found here. Insiders have sold 14,600 shares of company stock worth $651,586 in the last three months. Corporate insiders own 2.08% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC acquired a new position in shares of Steven Madden during the 4th quarter valued at about $32,000. Fidelis Capital Partners LLC acquired a new position in shares of Steven Madden during the 1st quarter valued at about $47,000. International Assets Investment Management LLC increased its stake in shares of Steven Madden by 4,100.0% during the 4th quarter. International Assets Investment Management LLC now owns 1,638 shares of the textile maker’s stock valued at $69,000 after acquiring an additional 1,599 shares during the last quarter. EntryPoint Capital LLC acquired a new position in shares of Steven Madden during the 1st quarter valued at about $81,000. Finally, Central Pacific Bank Trust Division acquired a new position in shares of Steven Madden during the 1st quarter valued at about $170,000. 99.88% of the stock is currently owned by hedge funds and other institutional investors.

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.