Steven Madden, Ltd. (NASDAQ:SHOO) Receives $43.20 Consensus PT from Brokerages

Steven Madden, Ltd. (NASDAQ:SHOO) has been assigned an average rating of “Hold” from the seven brokerages that are covering the firm, MarketBeat.com reports. Six analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $43.20.

SHOO has been the subject of a number of recent analyst reports. StockNews.com cut shares of Steven Madden from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Jefferies Financial Group restated a “hold” rating on shares of Steven Madden in a research report on Monday, February 3rd. Piper Sandler reduced their price objective on Steven Madden from $45.00 to $40.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. Citigroup lowered their target price on Steven Madden from $45.00 to $38.00 and set a “neutral” rating for the company in a research note on Tuesday, February 4th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Steven Madden in a research report on Thursday, February 13th.

Hedge Funds Weigh In On Steven Madden

Several institutional investors have recently modified their holdings of the business. Gladius Capital Management LP acquired a new stake in shares of Steven Madden in the 3rd quarter valued at approximately $36,000. Exchange Traded Concepts LLC bought a new stake in shares of Steven Madden in the 3rd quarter valued at about $59,000. R Squared Ltd bought a new position in shares of Steven Madden during the 4th quarter worth approximately $55,000. Quarry LP boosted its position in shares of Steven Madden by 403.6% during the fourth quarter. Quarry LP now owns 1,385 shares of the textile maker’s stock valued at $59,000 after buying an additional 1,110 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in Steven Madden by 94.1% during the third quarter. Blue Trust Inc. now owns 1,619 shares of the textile maker’s stock worth $79,000 after acquiring an additional 785 shares during the period. Institutional investors own 99.88% of the company’s stock.

Steven Madden Trading Down 1.7 %

Shares of SHOO opened at $37.89 on Friday. The stock has a 50 day simple moving average of $40.62 and a 200-day simple moving average of $43.70. The stock has a market cap of $2.74 billion, a PE ratio of 16.12 and a beta of 1.07. Steven Madden has a 1 year low of $36.40 and a 1 year high of $50.01.

Steven Madden Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were paid a $0.21 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.22%. Steven Madden’s dividend payout ratio (DPR) is presently 35.74%.

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.