Steven Madden, Ltd. (NASDAQ:SHOO) Receives $31.86 Average Price Target from Brokerages

Steven Madden, Ltd. (NASDAQ:SHOO) has received an average rating of “Hold” from the nine analysts that are currently covering the stock, Marketbeat.com reports. Eight research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $32.00.

A number of equities research analysts recently commented on the stock. Citigroup lowered their price target on shares of Steven Madden from $35.00 to $23.00 and set a “neutral” rating on the stock in a report on Thursday, May 1st. UBS Group boosted their target price on shares of Steven Madden from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Thursday. Loop Capital lowered their target price on shares of Steven Madden from $40.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday, February 27th. Telsey Advisory Group reissued a “market perform” rating and set a $24.00 target price on shares of Steven Madden in a report on Thursday. Finally, Needham & Company LLC reissued a “hold” rating on shares of Steven Madden in a report on Friday, May 2nd.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SHOO. CX Institutional purchased a new position in shares of Steven Madden during the 1st quarter valued at $32,000. R Squared Ltd purchased a new position in shares of Steven Madden during the 4th quarter valued at $55,000. Quarry LP grew its position in shares of Steven Madden by 403.6% during the 4th quarter. Quarry LP now owns 1,385 shares of the textile maker’s stock valued at $59,000 after purchasing an additional 1,110 shares in the last quarter. CWM LLC grew its position in Steven Madden by 231.0% in the first quarter. CWM LLC now owns 2,277 shares of the textile maker’s stock worth $61,000 after acquiring an additional 1,589 shares in the last quarter. Finally, Blue Trust Inc. grew its position in Steven Madden by 20.9% in the fourth quarter. Blue Trust Inc. now owns 1,958 shares of the textile maker’s stock worth $83,000 after acquiring an additional 339 shares in the last quarter. 99.88% of the stock is currently owned by hedge funds and other institutional investors.

Steven Madden Stock Down 3.6%

Shares of NASDAQ SHOO opened at $22.98 on Wednesday. Steven Madden has a twelve month low of $19.05 and a twelve month high of $50.01. The stock’s 50 day moving average price is $23.61 and its 200-day moving average price is $35.39. The company has a market capitalization of $1.67 billion, a PE ratio of 9.78 and a beta of 1.04.

Steven Madden (NASDAQ:SHOO) last announced its earnings results on Wednesday, May 7th. The textile maker reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.14. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. The firm had revenue of $551.38 million for the quarter, compared to the consensus estimate of $557.81 million. During the same quarter in the previous year, the business earned $0.65 EPS. The company’s revenue was up .2% compared to the same quarter last year. As a group, research analysts expect that Steven Madden will post 2.66 EPS for the current fiscal year.

Steven Madden Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Monday, June 9th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.66%. Steven Madden’s dividend payout ratio (DPR) is currently 36.21%.

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.