Brokerages Set Steven Madden, Ltd. (NASDAQ:SHOO) Price Target at $41.38

Steven Madden, Ltd. (NASDAQ:SHOO - Get Free Report) has earned a consensus rating of "Hold" from the seven analysts that are covering the company, MarketBeat.com reports. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $41.38.

SHOO has been the topic of a number of recent analyst reports. Williams Trading reissued a "hold" rating and set a $44.00 price target on shares of Steven Madden in a report on Wednesday, February 21st. Jefferies Financial Group restated a "hold" rating and set a $40.00 target price on shares of Steven Madden in a research report on Thursday, January 4th. Telsey Advisory Group upped their price target on Steven Madden from $39.00 to $44.00 and gave the stock a "market perform" rating in a report on Thursday, February 29th. Wedbush boosted their price objective on Steven Madden from $36.00 to $38.00 and gave the company a "neutral" rating in a research report on Wednesday, February 7th. Finally, Citigroup increased their target price on Steven Madden from $41.00 to $43.00 and gave the company a "neutral" rating in a research report on Thursday, February 29th.

Steven Madden Price Performance

NASDAQ:SHOO traded down $0.89 during mid-day trading on Tuesday, hitting $41.53. The company's stock had a trading volume of 822,631 shares, compared to its average volume of 847,616. The business's fifty day moving average is $42.35 and its two-hundred day moving average is $38.71. The stock has a market cap of $3.07 billion, a price-to-earnings ratio of 18.44 and a beta of 1.16. Steven Madden has a 1 year low of $29.92 and a 1 year high of $45.63.

Steven Madden (NASDAQ:SHOO - Get Free Report) last posted its earnings results on Wednesday, February 28th. The textile maker reported $0.61 EPS for the quarter, topping the consensus estimate of $0.56 by $0.05. Steven Madden had a return on equity of 21.61% and a net margin of 8.67%. The firm had revenue of $519.71 million for the quarter, compared to analyst estimates of $511.96 million. During the same period last year, the company earned $0.44 earnings per share. Steven Madden's revenue for the quarter was up 10.4% compared to the same quarter last year. Analysts anticipate that Steven Madden will post 2.61 EPS for the current fiscal year.

Steven Madden Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend was Thursday, March 7th. Steven Madden's dividend payout ratio is currently 36.52%.

Insiders Place Their Bets

In other news, Director Peter Allan Davis sold 1,200 shares of the firm's stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $42.13, for a total value of $50,556.00. Following the transaction, the director now directly owns 5,751 shares of the company's stock, valued at $242,289.63. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Peter Allan Davis sold 1,200 shares of the company's stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $42.13, for a total value of $50,556.00. Following the completion of the sale, the director now directly owns 5,751 shares in the company, valued at $242,289.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Zine Mazouzi sold 7,246 shares of Steven Madden stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $41.66, for a total value of $301,868.36. Following the transaction, the chief financial officer now owns 68,785 shares in the company, valued at approximately $2,865,583.10. The disclosure for this sale can be found here. Insiders have sold a total of 59,346 shares of company stock valued at $2,464,841 in the last 90 days. 2.01% of the stock is owned by insiders.

Institutional Investors Weigh In On Steven Madden

A number of hedge funds have recently modified their holdings of the company. Balyasny Asset Management L.P. purchased a new stake in shares of Steven Madden in the 1st quarter valued at approximately $47,876,000. Wellington Management Group LLP increased its stake in Steven Madden by 9.4% during the first quarter. Wellington Management Group LLP now owns 7,529,549 shares of the textile maker's stock worth $290,941,000 after acquiring an additional 648,822 shares during the last quarter. Victory Capital Management Inc. raised its position in Steven Madden by 71.9% in the fourth quarter. Victory Capital Management Inc. now owns 1,347,639 shares of the textile maker's stock valued at $43,071,000 after purchasing an additional 563,607 shares during the period. Norges Bank acquired a new position in shares of Steven Madden in the 4th quarter valued at $15,660,000. Finally, abrdn plc purchased a new position in shares of Steven Madden during the 4th quarter worth $20,351,000. 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.