Steven Madden (NASDAQ:SHOO) Cut to Buy at Wall Street Zen

Wall Street Zen lowered shares of Steven Madden (NASDAQ:SHOO) from a strong-buy rating to a buy rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

A number of other equities research analysts also recently weighed in on SHOO. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Steven Madden in a research note on Friday, July 17th. Piper Sandler set a $55.00 price target on shares of Steven Madden and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. BTIG Research reissued a “buy” rating and issued a $50.00 price target on shares of Steven Madden in a research note on Monday, July 27th. Zacks Research lowered shares of Steven Madden from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. Finally, Telsey Advisory Group raised their price objective on shares of Steven Madden from $50.00 to $55.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Five research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Steven Madden currently has an average rating of “Hold” and an average price target of $49.75.

Steven Madden Trading Down 2.4%

Shares of SHOO stock opened at $43.18 on Friday. The company has a market capitalization of $3.16 billion, a PE ratio of 21.70 and a beta of 1.14. Steven Madden has a 52-week low of $28.55 and a 52-week high of $49.70. The business’s fifty day moving average is $44.28 and its 200 day moving average is $40.50. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.13 and a current ratio of 1.91.

Steven Madden (NASDAQ:SHOO) last announced its earnings results on Thursday, July 30th. The textile maker reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.11. Steven Madden had a return on equity of 13.85% and a net margin of 5.23%.The business had revenue of $665.87 million for the quarter, compared to analyst estimates of $635.39 million. During the same period in the prior year, the company earned $0.20 EPS. The company’s quarterly revenue was up 19.1% compared to the same quarter last year. Steven Madden has set its FY 2026 guidance at 2.050-2.150 EPS. On average, equities research analysts anticipate that Steven Madden will post 2.15 EPS for the current fiscal year.

Steven Madden Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Friday, September 11th 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 1.9%. The ex-dividend date of this dividend is Friday, September 11th. Steven Madden’s dividend payout ratio (DPR) is currently 42.21%.

Insider Transactions at Steven Madden

In other Steven Madden news, insider Christina Ciglar sold 5,147 shares of Steven Madden stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $44.74, for a total transaction of $230,276.78. Following the sale, the insider directly owned 35,200 shares of the company’s stock, valued at approximately $1,574,848. The trade was a 12.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Al Ferrara sold 3,918 shares of Steven Madden stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $48.26, for a total value of $189,082.68. Following the sale, the director owned 26,197 shares in the company, valued at $1,264,267.22. This represents a 13.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 14,708 shares of company stock worth $691,304. 2.21% of the stock is owned by corporate insiders.

Institutional Trading of Steven Madden

A number of hedge funds and other institutional investors have recently modified their holdings of the business. California State Teachers Retirement System lifted its position in Steven Madden by 3,989.2% during the 2nd quarter. California State Teachers Retirement System now owns 3,481,039 shares of the textile maker’s stock valued at $146,552,000 after acquiring an additional 3,395,911 shares during the period. iSAM Funds UK Ltd bought a new stake in Steven Madden during the second quarter worth about $312,000. Nykredit A S purchased a new stake in Steven Madden in the second quarter worth about $128,000. Headlands Technologies LLC purchased a new stake in Steven Madden in the second quarter worth about $469,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Steven Madden during the second quarter valued at approximately $95,000. 99.88% of the stock is owned by hedge funds and other institutional investors.

About Steven Madden

Steven Madden, Inc (NASDAQ: SHOO) is a New York–based designer and marketer of fashion footwear, handbags and accessories. The company’s product portfolio spans a range of contemporary and lifestyle brands for women, men and children, including its core Steve Madden label as well as the Madden Girl and Dolce Vita brands. In addition to footwear, the company licenses its trademarks for use on apparel, eyewear and other fashion accessories.

Steven Madden distributes its products through multiple channels, including wholesale partners, e-commerce platforms and its own brick-and-mortar retail stores.