Telsey Advisory Group Reiterates "Market Perform" Rating for Steven Madden (NASDAQ:SHOO)

Telsey Advisory Group reissued their market perform rating on shares of Steven Madden (NASDAQ:SHOO - Free Report) in a report issued on Friday, Benzinga reports. Telsey Advisory Group currently has a $44.00 price target on the textile maker's stock.

A number of other brokerages also recently issued reports on SHOO. Piper Sandler started coverage on Steven Madden in a research report on Wednesday, February 14th. They set a neutral rating and a $45.00 price objective for the company. Citigroup upped their price target on shares of Steven Madden from $41.00 to $43.00 and gave the company a neutral rating in a research report on Thursday, February 29th. Wedbush lifted their price objective on Steven Madden from $36.00 to $38.00 and gave the stock a neutral rating in a research report on Wednesday, February 7th. StockNews.com upgraded Steven Madden from a hold rating to a buy rating in a research report on Thursday, February 29th. Finally, Jefferies Financial Group reaffirmed a hold rating and issued a $40.00 price target on shares of Steven Madden in a research note on Thursday, January 4th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Hold and an average target price of $41.38.

Steven Madden Trading Up 1.9 %

NASDAQ:SHOO traded up $0.76 on Friday, hitting $40.48. The company had a trading volume of 585,677 shares, compared to its average volume of 787,986. 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 $2.97 billion, a price-to-earnings ratio of 17.66 and a beta of 1.16. The firm has a 50 day moving average of $41.57 and a two-hundred day moving average of $39.68.

Steven Madden (NASDAQ:SHOO - Get Free Report) last announced its quarterly earnings results on Wednesday, February 28th. The textile maker reported $0.61 EPS for the quarter, beating analysts' consensus estimates of $0.56 by $0.05. The company had revenue of $519.71 million during the quarter, compared to analysts' expectations of $511.96 million. Steven Madden had a return on equity of 21.61% and a net margin of 8.67%. Steven Madden's revenue was up 10.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.44 EPS. As a group, equities analysts forecast that Steven Madden will post 2.61 EPS for the current year.

Steven Madden Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were paid a $0.21 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.84 annualized dividend and a dividend yield of 2.08%. Steven Madden's payout ratio is 36.52%.

Insider Activity

In other Steven Madden news, Director Peter Allan Davis sold 1,200 shares of the 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 completion of the sale, the director now owns 5,751 shares in the company, valued at approximately $242,289.63. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Steven Madden news, Director Peter Allan Davis sold 1,200 shares of the business's stock in a transaction 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 sale, the director now directly owns 5,751 shares in the company, valued at $242,289.63. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Lisa Keith sold 2,400 shares of the firm's stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $41.73, for a total transaction of $100,152.00. Following the completion of the transaction, the executive vice president now directly owns 20,687 shares of the company's stock, valued at $863,268.51. The disclosure for this sale can be found here. Insiders sold a total of 59,346 shares of company stock worth $2,464,841 over the last quarter. Insiders own 2.01% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC purchased a new stake in shares of Steven Madden in the 4th quarter valued at about $32,000. International Assets Investment Management LLC raised its stake in Steven Madden by 4,100.0% in the fourth quarter. International Assets Investment Management LLC now owns 1,638 shares of the textile maker's stock valued at $69,000 after purchasing an additional 1,599 shares in the last quarter. Covestor Ltd lifted its position in Steven Madden by 32.9% during the third quarter. Covestor Ltd now owns 5,320 shares of the textile maker's stock valued at $169,000 after purchasing an additional 1,316 shares during the last quarter. Mackenzie Financial Corp purchased a new position in Steven Madden in the 4th quarter worth approximately $207,000. Finally, Steele Capital Management Inc. bought a new stake in shares of Steven Madden during the 4th quarter worth $237,000. Institutional investors 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.