Steven Madden (NASDAQ:SHOO) Earns “Neutral” Rating from Wedbush

Wedbush reaffirmed their neutral rating on shares of Steven Madden (NASDAQ:SHOO) in a report published on Wednesday morning, Benzinga reports. They currently have a $41.00 target price on the textile maker’s stock. Wedbush also issued estimates for Steven Madden’s Q3 2024 earnings at $0.93 EPS.

Several other research analysts have also commented on the company. BTIG Research lifted their price target on Steven Madden from $50.00 to $53.00 and gave the stock a buy rating in a report on Thursday, June 6th. Telsey Advisory Group restated a market perform rating and set a $44.00 price objective on shares of Steven Madden in a research report on Wednesday, July 31st. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Hold and an average price target of $44.29.

Steven Madden Trading Up 0.1 %

SHOO traded up $0.06 on Wednesday, hitting $43.08. 524,416 shares of the company’s stock were exchanged, compared to its average volume of 740,333. The firm has a 50-day moving average price of $43.47 and a 200-day moving average price of $42.32. The stock has a market cap of $3.16 billion, a price-to-earnings ratio of 17.80 and a beta of 1.09. Steven Madden has a fifty-two week low of $30.35 and a fifty-two week high of $47.24.

Steven Madden (NASDAQ:SHOO) last released its quarterly earnings data on Wednesday, July 31st. The textile maker reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.06. The company had revenue of $523.60 million during the quarter, compared to the consensus estimate of $515.15 million. Steven Madden had a net margin of 8.36% and a return on equity of 23.49%. Steven Madden’s quarterly revenue was up 17.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.47 EPS. On average, equities analysts predict that Steven Madden will post 2.62 EPS for the current year.

Steven Madden Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Friday, September 13th will be given a $0.21 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.84 dividend on an annualized basis and a yield of 1.95%. Steven Madden’s payout ratio is currently 34.71%.

Insiders Place Their Bets

In other news, Director Peter Migliorini sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $43.81, for a total value of $131,430.00. Following the transaction, the director now directly owns 16,006 shares in the company, valued at approximately $701,222.86. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Peter Migliorini sold 3,000 shares of the business’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $43.81, for a total value of $131,430.00. Following the sale, the director now owns 16,006 shares in the company, valued at approximately $701,222.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Rose Peabody Lynch sold 1,600 shares of the stock in a transaction dated Wednesday, June 5th. The stock was 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 disclosure for this sale can be found here. Insiders sold a total of 14,600 shares of company stock valued at $651,586 over the last 90 days. 2.08% of the stock is owned by company insiders.

Institutional Trading of Steven Madden

Large investors have recently modified their holdings of the stock. GAMMA Investing LLC acquired a new position in Steven Madden during the 4th quarter worth $32,000. Blue Trust Inc. grew its position in shares of Steven Madden by 9,166.7% during the second quarter. Blue Trust Inc. now owns 834 shares of the textile maker’s stock worth $35,000 after buying an additional 825 shares in the last quarter. Fidelis Capital Partners LLC purchased a new stake in shares of Steven Madden during the first quarter worth approximately $47,000. International Assets Investment Management LLC raised its holdings in Steven Madden by 4,100.0% in the fourth 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 in the last quarter. Finally, EntryPoint Capital LLC purchased a new position in Steven Madden in the first quarter worth approximately $81,000. 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.