Steven Madden (NASDAQ:SHOO) Cut to Hold at StockNews.com

StockNews.com downgraded shares of Steven Madden (NASDAQ:SHOO) from a buy rating to a hold rating in a report published on Tuesday morning.

Other analysts also recently issued research reports about the stock. BTIG Research lifted their target price on shares of Steven Madden from $50.00 to $53.00 and gave the company a buy rating in a report on Thursday, June 6th. Piper Sandler reiterated a neutral rating and issued a $45.00 target price on shares of Steven Madden in a report on Friday, August 23rd. Wedbush reiterated a neutral rating and issued a $41.00 target price on shares of Steven Madden in a report on Wednesday, August 7th. Finally, Telsey Advisory Group reiterated a market perform rating and issued a $44.00 target price on shares of Steven Madden in a report on Wednesday, July 31st. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $44.29.

Steven Madden Price Performance

Shares of NASDAQ SHOO opened at $44.54 on Tuesday. The company has a 50 day simple moving average of $43.47 and a 200-day simple moving average of $42.50. The company has a market capitalization of $3.27 billion, a P/E ratio of 18.40 and a beta of 1.09. Steven Madden has a 1 year low of $30.35 and a 1 year high of $47.24.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings results on Wednesday, July 31st. The textile maker reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.06. The business 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%. The business’s revenue was up 17.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.47 EPS. As a group, research analysts expect that Steven Madden will post 2.62 EPS for the current year.

Steven Madden Dividend Announcement

The firm also recently declared 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 annualized dividend and a yield of 1.89%. Steven Madden’s dividend payout ratio is presently 34.71%.

Insider Buying and Selling at Steven Madden

In other Steven Madden news, insider Karla Frieders sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $44.91, for a total value of $449,100.00. Following the completion of the transaction, the insider now owns 86,658 shares of the company’s stock, valued at approximately $3,891,810.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Peter Migliorini sold 3,000 shares of Steven Madden stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $43.81, for a total transaction of $131,430.00. Following the completion of the sale, the director now directly owns 16,006 shares of the company’s stock, valued at approximately $701,222.86. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Karla Frieders sold 10,000 shares of Steven Madden stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $44.91, for a total transaction of $449,100.00. Following the sale, the insider now directly owns 86,658 shares of the company’s stock, valued at $3,891,810.78. The disclosure for this sale can be found here. Insiders sold 14,600 shares of company stock valued at $651,586 in the last 90 days. Company insiders own 2.08% of the company’s stock.

Institutional Investors Weigh In On Steven Madden

Several institutional investors have recently modified their holdings of the company. Aristides Capital LLC purchased a new stake in shares of Steven Madden during the 2nd quarter worth $261,000. Creative Planning lifted its position in shares of Steven Madden by 78.7% during the 2nd quarter. Creative Planning now owns 10,791 shares of the textile maker’s stock worth $456,000 after purchasing an additional 4,752 shares during the last quarter. Algert Global LLC purchased a new stake in shares of Steven Madden during the 2nd quarter worth $299,000. Scientech Research LLC purchased a new stake in shares of Steven Madden during the 2nd quarter worth $821,000. Finally, Mackenzie Financial Corp lifted its position in Steven Madden by 3.1% in the second quarter. Mackenzie Financial Corp now owns 8,232 shares of the textile maker’s stock valued at $348,000 after acquiring an additional 248 shares during the last quarter. 99.88% of the stock is owned by hedge funds and other 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.