Analysts Set Steven Madden, Ltd. (NASDAQ:SHOO) PT at $45.43

Steven Madden, Ltd. (NASDAQ:SHOO) has earned a consensus recommendation of “Hold” from the eight research firms that are covering the company, MarketBeat reports. Seven investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $45.43.

A number of analysts recently issued reports on SHOO shares. Citigroup increased 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. StockNews.com downgraded shares of Steven Madden from a “buy” rating to a “hold” rating in a report on Sunday, November 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of Steven Madden in a research note on Thursday, December 5th. Piper Sandler reiterated a “neutral” rating and issued a $45.00 target price on shares of Steven Madden in a research note on Friday, August 23rd. Finally, Telsey Advisory Group restated a “market perform” rating and set a $50.00 price target on shares of Steven Madden in a research report on Wednesday, November 13th.

Steven Madden Stock Up 0.3 %

Shares of NASDAQ:SHOO opened at $43.67 on Friday. The firm has a market capitalization of $3.15 billion, a PE ratio of 18.58 and a beta of 1.07. The company has a 50-day moving average price of $45.25 and a two-hundred day moving average price of $44.70. Steven Madden has a twelve month low of $37.99 and a twelve month high of $50.01.

Steven Madden (NASDAQ:SHOO) last released its quarterly earnings data on Thursday, November 7th. The textile maker reported $0.91 EPS for the quarter, topping the consensus estimate of $0.89 by $0.02. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The company had revenue of $624.68 million during the quarter, compared to the consensus estimate of $607.89 million. During the same period last year, the firm earned $0.88 EPS. Steven Madden’s revenue for the quarter was up 13.0% on a year-over-year basis. Analysts anticipate that Steven Madden will post 2.66 earnings per share for the current fiscal year.

Steven Madden Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend is Friday, December 13th. Steven Madden’s dividend payout ratio is currently 35.74%.

Institutional Investors Weigh In On Steven Madden

A number of large investors have recently added to or reduced their stakes in the company. State Street Corp boosted its holdings in shares of Steven Madden by 1.7% in the 3rd quarter. State Street Corp now owns 2,756,075 shares of the textile maker’s stock worth $135,020,000 after purchasing an additional 47,017 shares in the last quarter. Geode Capital Management LLC boosted its stake in Steven Madden by 3.0% in the third quarter. Geode Capital Management LLC now owns 1,710,492 shares of the textile maker’s stock worth $83,812,000 after buying an additional 49,075 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Steven Madden by 3.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,096,777 shares of the textile maker’s stock worth $53,731,000 after buying an additional 32,696 shares in the last quarter. Bank of New York Mellon Corp grew its position in Steven Madden by 0.6% during the second quarter. Bank of New York Mellon Corp now owns 873,682 shares of the textile maker’s stock valued at $36,957,000 after acquiring an additional 5,451 shares during the last quarter. Finally, Fisher Asset Management LLC raised its stake in shares of Steven Madden by 0.6% during the third quarter. Fisher Asset Management LLC now owns 728,674 shares of the textile maker’s stock worth $35,698,000 after acquiring an additional 4,108 shares in the last quarter. Hedge funds and other institutional investors own 99.88% of the company’s stock.

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.