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

Shares of Steven Madden, Ltd. (NASDAQ:SHOO - Get Free Report) have earned a consensus recommendation of "Hold" from the eight ratings firms that are presently covering the firm, MarketBeat.com reports. Eight analysts have rated the stock with a hold rating. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $28.50.

SHOO has been the subject of a number of analyst reports. UBS Group upped their price objective on shares of Steven Madden from $22.00 to $23.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Citigroup decreased their target price on shares of Steven Madden from $35.00 to $23.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Loop Capital dropped their price target 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. Telsey Advisory Group restated a "market perform" rating and set a $24.00 price target on shares of Steven Madden in a report on Wednesday, June 4th. Finally, Piper Sandler reduced their price target on shares of Steven Madden from $35.00 to $25.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th.

Steven Madden Price Performance

Shares of NASDAQ:SHOO traded up $0.62 during midday trading on Thursday, hitting $24.45. The company had a trading volume of 166,769 shares, compared to its average volume of 1,095,882. Steven Madden has a twelve month low of $19.05 and a twelve month high of $50.01. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of 10.55 and a beta of 1.12. The business's 50-day simple moving average is $23.67 and its 200-day simple moving average is $30.89.

Steven Madden (NASDAQ:SHOO - Get Free Report) last issued its earnings results on Wednesday, May 7th. The textile maker reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.14. Steven Madden had a return on equity of 21.63% and a net margin of 7.26%. The company 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 business earned $0.65 EPS. The firm's quarterly revenue was up .2% on a year-over-year basis. As a group, sell-side analysts forecast that Steven Madden will post 2.66 EPS for the current year.

Steven Madden Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Monday, June 9th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend was Monday, June 9th. Steven Madden's dividend payout ratio (DPR) is presently 36.21%.

Institutional Investors Weigh In On Steven Madden

A number of institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. increased its holdings in Steven Madden by 3.1% in the 4th quarter. Principal Financial Group Inc. now owns 381,196 shares of the textile maker's stock valued at $16,208,000 after purchasing an additional 11,602 shares during the last quarter. Handelsbanken Fonder AB lifted its stake in Steven Madden by 11.7% during the fourth quarter. Handelsbanken Fonder AB now owns 22,003 shares of the textile maker's stock worth $936,000 after purchasing an additional 2,300 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of Steven Madden during the fourth quarter worth $831,000. Bank of New York Mellon Corp grew its stake in shares of Steven Madden by 2.1% in the fourth quarter. Bank of New York Mellon Corp now owns 837,865 shares of the textile maker's stock valued at $35,626,000 after buying an additional 17,173 shares in the last quarter. Finally, Illinois Municipal Retirement Fund grew its stake in shares of Steven Madden by 7.9% in the fourth quarter. Illinois Municipal Retirement Fund now owns 39,892 shares of the textile maker's stock valued at $1,696,000 after buying an additional 2,907 shares in the last quarter. 99.88% of the stock is currently owned by institutional investors and hedge funds.

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.