Steven Madden, Ltd. (NASDAQ:SHOO) Given Consensus Rating of "Hold" by Analysts

Shares of Steven Madden, Ltd. (NASDAQ:SHOO - Get Free Report) have been given an average rating of "Hold" by the seven brokerages that are presently covering the company, MarketBeat reports. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $41.75.

A number of research analysts have commented on the company. Telsey Advisory Group reaffirmed a "market perform" rating and set a $44.00 target price on shares of Steven Madden in a report on Friday, April 26th. Citigroup raised their price target on Steven Madden from $41.00 to $43.00 and gave the stock a "neutral" rating in a report on Thursday, February 29th. Williams Trading reissued a "hold" rating and issued a $44.00 price target on shares of Steven Madden in a report on Wednesday, February 21st. Piper Sandler initiated coverage on Steven Madden in a report on Wednesday, February 14th. They issued a "neutral" rating and a $45.00 price target on the stock. Finally, StockNews.com raised Steven Madden from a "hold" rating to a "buy" rating in a report on Thursday, February 29th.

Steven Madden Stock Down 1.9 %

NASDAQ:SHOO traded down $0.81 during trading hours on Wednesday, reaching $41.30. 482,531 shares of the stock were exchanged, compared to its average volume of 756,155. The firm has a 50 day simple moving average of $40.81 and a 200-day simple moving average of $40.83. Steven Madden has a 52 week low of $29.92 and a 52 week high of $45.63. The stock has a market capitalization of $3.03 billion, a P/E ratio of 17.07 and a beta of 1.15.

Steven Madden (NASDAQ:SHOO - Get Free Report) last released its earnings results on Wednesday, May 1st. The textile maker reported $0.65 EPS for the quarter, topping analysts' consensus estimates of $0.56 by $0.09. Steven Madden had a return on equity of 22.68% and a net margin of 8.65%. The company had revenue of $552.38 million for the quarter, compared to the consensus estimate of $525.04 million. During the same quarter last year, the business posted $0.50 EPS. Steven Madden's quarterly revenue was up 19.1% compared to the same quarter last year. As a group, analysts expect that Steven Madden will post 2.62 earnings per share for the current year.

Steven Madden Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Monday, June 10th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend is Monday, June 10th. Steven Madden's payout ratio is currently 34.71%.

Insider Buying and Selling at Steven Madden

In other Steven Madden news, Director Peter Allan Davis sold 1,200 shares of Steven Madden stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $42.13, for a total transaction of $50,556.00. Following the sale, the director now owns 5,751 shares of the company's stock, valued at approximately $242,289.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Peter Allan Davis sold 1,200 shares of Steven Madden stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $42.13, for a total transaction of $50,556.00. Following the transaction, the director now directly owns 5,751 shares in the company, valued at approximately $242,289.63. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Edward R. Rosenfeld sold 48,500 shares of Steven Madden stock in a transaction on Friday, March 15th. The shares were sold at an average price of $41.49, for a total value of $2,012,265.00. Following the transaction, the chief executive officer now owns 697,038 shares in the company, valued at $28,920,106.62. The disclosure for this sale can be found here. Insiders have sold 59,346 shares of company stock valued at $2,464,841 in the last quarter. Corporate insiders own 2.08% of the company's stock.

Hedge Funds Weigh In On Steven Madden

Several hedge funds have recently modified their holdings of SHOO. Vanguard Group Inc. grew its holdings in shares of Steven Madden by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 8,329,605 shares of the textile maker's stock worth $264,632,000 after acquiring an additional 80,199 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Steven Madden by 5.3% in the 3rd quarter. Wellington Management Group LLP now owns 6,264,768 shares of the textile maker's stock worth $199,032,000 after acquiring an additional 316,676 shares during the last quarter. Capital Research Global Investors grew its holdings in shares of Steven Madden by 8.6% in the 1st quarter. Capital Research Global Investors now owns 1,856,001 shares of the textile maker's stock worth $78,472,000 after acquiring an additional 146,324 shares during the last quarter. Pacer Advisors Inc. grew its holdings in shares of Steven Madden by 30.7% in the 4th quarter. Pacer Advisors Inc. now owns 1,469,956 shares of the textile maker's stock worth $61,738,000 after acquiring an additional 345,558 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Steven Madden by 10.3% in the 4th quarter. Victory Capital Management Inc. now owns 1,455,980 shares of the textile maker's stock worth $61,151,000 after acquiring an additional 136,171 shares during the last quarter. 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.