Steven Madden (NASDAQ:SHOO) Upgraded at StockNews.com

StockNews.com upgraded shares of Steven Madden (NASDAQ:SHOO) from a hold rating to a buy rating in a research note published on Saturday.

A number of other research analysts have also commented on SHOO. Piper Sandler restated a “neutral” rating and set a $45.00 price target on shares of Steven Madden in a research report on Friday, August 23rd. Wedbush restated a “neutral” rating and set a $41.00 target price on shares of Steven Madden in a research report on Wednesday, August 7th. Telsey Advisory Group restated a “market perform” rating and issued a $50.00 target price on shares of Steven Madden in a research note on Wednesday. Finally, Citigroup boosted their price objective on Steven Madden from $43.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $45.43.

Steven Madden Stock Down 1.6 %

Shares of NASDAQ SHOO opened at $43.23 on Friday. The company has a market cap of $3.12 billion, a P/E ratio of 18.40 and a beta of 1.08. Steven Madden has a 52 week low of $35.64 and a 52 week high of $50.01. The business has a 50-day simple moving average of $46.43 and a two-hundred day simple moving average of $44.32.

Steven Madden (NASDAQ:SHOO) last released its quarterly earnings data on Thursday, November 7th. The textile maker reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.02. The company had revenue of $624.68 million during the quarter, compared to analyst estimates of $607.89 million. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. Steven Madden’s revenue was up 13.0% compared to the same quarter last year. During the same period last year, the business earned $0.88 earnings per share. Equities research analysts anticipate that Steven Madden will post 2.65 EPS for the current year.

Steven Madden Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.94%. The ex-dividend date is Friday, December 13th. Steven Madden’s dividend payout ratio is currently 35.74%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in SHOO. Blue Trust Inc. grew its holdings in shares of Steven Madden by 9,166.7% during the 2nd quarter. Blue Trust Inc. now owns 834 shares of the textile maker’s stock valued at $35,000 after purchasing an additional 825 shares during the last quarter. Gladius Capital Management LP bought a new position in shares of Steven Madden during the third quarter valued at about $36,000. Exchange Traded Concepts LLC purchased a new position in shares of Steven Madden in the third quarter worth about $59,000. GAMMA Investing LLC lifted its stake in shares of Steven Madden by 80.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,329 shares of the textile maker’s stock valued at $65,000 after acquiring an additional 593 shares during the last quarter. Finally, EntryPoint Capital LLC bought a new stake in shares of Steven Madden in the 1st quarter valued at about $81,000. 99.88% of the stock is 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.