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 Monday morning.

Several other equities analysts have also weighed in on the company. Citigroup increased their price objective on Steven Madden from $43.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Telsey Advisory Group reiterated a “market perform” rating and set a $50.00 price target on shares of Steven Madden in a research note on Wednesday, November 13th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Steven Madden in a report on Thursday, December 5th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Steven Madden has a consensus rating of “Hold” and an average target price of $46.33.

Steven Madden Price Performance

NASDAQ SHOO opened at $41.19 on Monday. The business’s fifty day moving average is $43.66 and its 200-day moving average is $44.50. The stock has a market capitalization of $2.97 billion, a price-to-earnings ratio of 17.53 and a beta of 1.08. Steven Madden has a one year low of $37.99 and a one year high of $50.01.

Steven Madden (NASDAQ:SHOO) last announced 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 business had revenue of $624.68 million for the quarter, compared to analyst estimates of $607.89 million. During the same quarter in the previous year, the firm posted $0.88 earnings per share. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. Research analysts expect that Steven Madden will post 2.66 EPS for the current fiscal year.

Steven Madden Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.04%. The ex-dividend date was Friday, December 13th. Steven Madden’s dividend payout ratio (DPR) is presently 35.74%.

Institutional Trading of Steven Madden

A number of institutional investors have recently added to or reduced their stakes in SHOO. Central Pacific Bank Trust Division increased its position in shares of Steven Madden by 7.4% during the fourth quarter. Central Pacific Bank Trust Division now owns 4,202 shares of the textile maker’s stock valued at $179,000 after buying an additional 290 shares during the period. JPMorgan Chase & Co. grew its stake in Steven Madden by 5.0% during the third quarter. JPMorgan Chase & Co. now owns 462,096 shares of the textile maker’s stock valued at $22,638,000 after acquiring an additional 21,942 shares in the last quarter. Tidal Investments LLC grew its stake in Steven Madden by 15.1% during the third quarter. Tidal Investments LLC now owns 17,375 shares of the textile maker’s stock valued at $851,000 after acquiring an additional 2,278 shares in the last quarter. Geode Capital Management LLC increased its holdings in Steven Madden by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,710,492 shares of the textile maker’s stock worth $83,812,000 after acquiring an additional 49,075 shares during the period. Finally, Barclays PLC lifted its stake in Steven Madden by 286.9% in the 3rd quarter. Barclays PLC now owns 139,206 shares of the textile maker’s stock worth $6,819,000 after purchasing an additional 103,226 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.