Steven Madden (NASDAQ:SHOO) Hits New 52-Week High Following Analyst Upgrade

Key Points

• Steven Madden (NASDAQ:SHOO) hit a new 52-week high after Needham & Company raised its price target from $45 to $52 and reiterated a buy rating. The stock traded as high as $47.11 during the session.
• Analyst sentiment is mixed overall, but slightly positive: five analysts rate the stock a Buy, three a Hold, and one a Sell. MarketBeat’s consensus rating remains Hold with an average target price of $45.13.
• The company recently reported earnings of $0.45 per share, topping estimates, while revenue rose 18% year over year to $653.1 million. Steven Madden also announced a quarterly dividend of $0.21 per share, or $0.84 annualized, for a 1.8% yield.

Steven Madden, Ltd. (NASDAQ:SHOO - Get Free Report)'s stock price hit a new 52-week high on Monday after Needham & Company LLC raised their price target on the stock from $45.00 to $52.00. Needham & Company LLC currently has a buy rating on the stock. Steven Madden traded as high as $47.11 and last traded at $46.4970, with a volume of 12936 shares. The stock had previously closed at $46.15.

Other equities research analysts have also issued reports about the company. Williams Trading set a $48.00 price objective on Steven Madden in a research note on Tuesday, March 10th. UBS Group reaffirmed a "neutral" rating and set a $40.00 target price (up from $38.00) on shares of Steven Madden in a report on Monday, April 27th. Weiss Ratings reiterated a "hold (c)" rating on shares of Steven Madden in a research report on Tuesday, April 21st. Zacks Research upgraded Steven Madden from a "strong sell" rating to a "hold" rating in a report on Wednesday, April 8th. Finally, Wall Street Zen raised shares of Steven Madden from a "hold" rating to a "buy" rating in a research note on Saturday, June 6th. Five investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $45.13.

Insiders Place Their Bets

In related news, insider Christina Ciglar sold 5,147 shares of the company's stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $44.74, for a total transaction of $230,276.78. Following the transaction, the insider directly owned 35,200 shares of the company's stock, valued at approximately $1,574,848. The trade was a 12.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Arian Simone Reed sold 648 shares of the firm's stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $39.97, for a total value of $25,900.56. Following the sale, the director owned 8,057 shares of the company's stock, valued at $322,038.29. The trade was a 7.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 6,270 shares of company stock worth $276,992 in the last quarter. 2.21% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Steven Madden

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC increased its stake in shares of Steven Madden by 86.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the textile maker's stock worth $25,000 after acquiring an additional 485 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in Steven Madden in the fourth quarter valued at about $30,000. Global Retirement Partners LLC raised its stake in shares of Steven Madden by 1,064.3% during the 4th quarter. Global Retirement Partners LLC now owns 815 shares of the textile maker's stock worth $34,000 after purchasing an additional 745 shares in the last quarter. First Horizon Corp lifted its holdings in shares of Steven Madden by 55.1% during the 4th quarter. First Horizon Corp now owns 892 shares of the textile maker's stock valued at $37,000 after buying an additional 317 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its stake in shares of Steven Madden by 79.4% in the 4th quarter. Farther Finance Advisors LLC now owns 983 shares of the textile maker's stock valued at $41,000 after buying an additional 435 shares in the last quarter. Hedge funds and other institutional investors own 99.88% of the company's stock.

Steven Madden Trading Down 0.2%

The company has a 50 day moving average of $40.06 and a 200 day moving average of $40.03. The firm has a market cap of $3.37 billion, a P/E ratio of 43.93 and a beta of 1.15. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.42 and a current ratio of 2.23.

Steven Madden (NASDAQ:SHOO - Get Free Report) last posted its earnings results on Wednesday, May 6th. The textile maker reported $0.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.42 by $0.03. Steven Madden had a net margin of 2.89% and a return on equity of 12.29%. The firm had revenue of $653.10 million during the quarter, compared to analysts' expectations of $646.64 million. During the same period in the previous year, the company earned $0.60 earnings per share. The company's revenue was up 18.0% compared to the same quarter last year. Steven Madden has set its FY 2026 guidance at 2.000-2.100 EPS. Analysts predict that Steven Madden, Ltd. will post 2.09 EPS for the current fiscal year.

Steven Madden Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 19th. Stockholders of record on Monday, June 8th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Monday, June 8th. Steven Madden's dividend payout ratio is 80.00%.

Steven Madden Company Profile

Steven Madden, Inc NASDAQ: SHOO is a New York–based designer and marketer of fashion footwear, handbags and accessories. The company's product portfolio spans a range of contemporary and lifestyle brands for women, men and children, including its core Steve Madden label as well as the Madden Girl and Dolce Vita brands. In addition to footwear, the company licenses its trademarks for use on apparel, eyewear and other fashion accessories.

Steven Madden distributes its products through multiple channels, including wholesale partners, e-commerce platforms and its own brick-and-mortar retail stores.

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