Investors Buy High Volume of Steven Madden Call Options (NASDAQ:SHOO)

Steven Madden, Ltd. (NASDAQ:SHOO - Get Free Report) was the recipient of unusually large options trading activity on Tuesday. Stock traders bought 5,461 call options on the stock. This is an increase of 789% compared to the typical volume of 614 call options.

Wall Street Analysts Forecast Growth

Several research firms have commented on SHOO. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $24.00 target price on shares of Steven Madden in a research note on Wednesday, June 4th. UBS Group boosted their price objective on shares of Steven Madden from $22.00 to $23.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Loop Capital lowered their price objective on shares of Steven Madden from $40.00 to $35.00 and set a "hold" rating for the company in a research note on Thursday, February 27th. Citigroup lowered their price objective on shares of Steven Madden from $35.00 to $23.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Finally, Needham & Company LLC reissued a "hold" rating on shares of Steven Madden in a research note on Friday, May 2nd. Nine investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $28.50.

Steven Madden Stock Performance

Steven Madden stock traded down $1.41 during trading on Wednesday, reaching $24.55. 1,659,345 shares of the company's stock were exchanged, compared to its average volume of 1,079,856. The company's 50-day moving average is $23.07 and its two-hundred day moving average is $32.52. Steven Madden has a 52-week low of $19.05 and a 52-week high of $50.01. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of 10.45 and a beta of 1.12.

Steven Madden (NASDAQ:SHOO - Get Free Report) last announced its quarterly 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 net margin of 7.68% and a return on equity of 23.41%. The firm had revenue of $551.38 million during the quarter, compared to analysts' expectations of $557.81 million. During the same period in the prior year, the company earned $0.65 EPS. The firm's revenue was up .2% on a year-over-year basis. Analysts anticipate that Steven Madden will post 2.66 EPS for the current year.

Steven Madden Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Monday, June 9th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 3.42%. Steven Madden's dividend payout ratio is currently 36.21%.

Hedge Funds Weigh In On Steven Madden

Institutional investors have recently added to or reduced their stakes in the company. CX Institutional acquired a new position in Steven Madden in the 1st quarter worth $32,000. Quarry LP lifted its holdings in Steven Madden by 403.6% in the 4th quarter. Quarry LP now owns 1,385 shares of the textile maker's stock worth $59,000 after buying an additional 1,110 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in Steven Madden by 328.8% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 2,161 shares of the textile maker's stock worth $58,000 after buying an additional 1,657 shares in the last quarter. CWM LLC lifted its holdings in Steven Madden by 231.0% in the 1st quarter. CWM LLC now owns 2,277 shares of the textile maker's stock worth $61,000 after buying an additional 1,589 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in Steven Madden by 21.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,171 shares of the textile maker's stock worth $176,000 after buying an additional 741 shares in the last quarter. Institutional investors and hedge funds own 99.88% of the company's stock.

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.