Steven Madden’s (SHOO) Hold Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Steven Madden (NASDAQ:SHOO) in a report published on Thursday morning,Benzinga reports.

SHOO has been the topic of several other reports. Telsey Advisory Group lowered their price target on Steven Madden from $50.00 to $44.00 and set a “market perform” rating on the stock in a research report on Tuesday. Piper Sandler dropped their price target on shares of Steven Madden from $45.00 to $40.00 and set a “neutral” rating on the stock in a research report on Tuesday. StockNews.com lowered shares of Steven Madden from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Finally, Citigroup dropped their target price on shares of Steven Madden from $45.00 to $38.00 and set a “neutral” rating on the stock in a report on Tuesday. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Steven Madden presently has a consensus rating of “Hold” and a consensus price target of $43.33.

Steven Madden Price Performance

SHOO stock opened at $37.60 on Thursday. The company has a market capitalization of $2.71 billion, a P/E ratio of 16.00 and a beta of 1.07. The company has a 50-day simple moving average of $42.15 and a 200 day simple moving average of $44.12. Steven Madden has a fifty-two week low of $36.88 and a fifty-two week high of $50.01.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings data on Thursday, November 7th. The textile maker reported $0.91 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $607.89 million. During the same period last year, the firm posted $0.88 earnings per share. The business’s revenue was up 13.0% on a year-over-year basis. Equities analysts anticipate that Steven Madden will post 2.66 EPS for the current year.

Steven Madden Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were issued a dividend of $0.21 per share. The ex-dividend date was Friday, December 13th. This represents a $0.84 annualized dividend and a yield of 2.23%. Steven Madden’s payout ratio is presently 35.74%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC lifted its position in shares of Steven Madden by 8,180.4% in the 3rd quarter. FMR LLC now owns 535,081 shares of the textile maker’s stock valued at $26,214,000 after acquiring an additional 528,619 shares in the last quarter. Geode Capital Management LLC raised its stake 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 valued at $83,812,000 after purchasing an additional 49,075 shares during the period. Landscape Capital Management L.L.C. acquired a new stake in Steven Madden during the 3rd quarter valued at $2,614,000. Systematic Financial Management LP lifted its holdings in shares of Steven Madden by 15.9% in the third quarter. Systematic Financial Management LP now owns 439,126 shares of the textile maker’s stock valued at $21,513,000 after purchasing an additional 60,276 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Steven Madden by 5.0% in the third quarter. JPMorgan Chase & Co. now owns 462,096 shares of the textile maker’s stock worth $22,638,000 after buying an additional 21,942 shares during the period. 99.88% of the stock is currently owned by institutional investors and hedge funds.

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.