Steven Madden, Ltd. (NASDAQ:SHOO - Get Free Report) shares gapped up before the market opened on Monday . The stock had previously closed at $21.09, but opened at $21.88. Steven Madden shares last traded at $21.20, with a volume of 249,959 shares changing hands.
Wall Street Analyst Weigh In
SHOO has been the subject of a number of recent research reports. StockNews.com lowered Steven Madden from a "buy" rating to a "hold" rating in a research note on Tuesday, January 14th. Loop Capital reduced their price objective on shares of Steven Madden from $40.00 to $35.00 and set a "hold" rating for the company in a report on Thursday, February 27th. UBS Group upped their target price on shares of Steven Madden from $22.00 to $23.00 and gave the company a "neutral" rating in a research note on Thursday. Telsey Advisory Group restated a "market perform" rating and set a $24.00 price target on shares of Steven Madden in a research note on Thursday. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Steven Madden in a research note on Friday, May 2nd. Nine equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $32.00.
Check Out Our Latest Report on SHOO
Steven Madden Trading Down 3.6 %
The firm's fifty day moving average price is $23.61 and its 200-day moving average price is $35.52. The company has a market cap of $1.67 billion, a price-to-earnings ratio of 9.78 and a beta of 1.04.
Steven Madden (NASDAQ:SHOO - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The textile maker reported $0.60 EPS for the quarter, topping analysts' consensus estimates of $0.46 by $0.14. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The business had revenue of $551.38 million for the quarter, compared to analyst estimates of $557.81 million. During the same period last year, the business posted $0.65 earnings per share. The firm's quarterly revenue was up .2% on a year-over-year basis. As a group, research analysts anticipate that Steven Madden, Ltd. will post 2.66 EPS for the current year.
Steven Madden Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Monday, June 9th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.66%. The ex-dividend date is Monday, June 9th. Steven Madden's dividend payout ratio (DPR) is currently 35.74%.
Hedge Funds Weigh In On Steven Madden
Hedge funds and other institutional investors have recently bought and sold shares of the business. Barclays PLC lifted its stake in shares of Steven Madden by 286.9% during the 3rd quarter. Barclays PLC now owns 139,206 shares of the textile maker's stock worth $6,819,000 after buying an additional 103,226 shares during the last quarter. Tidal Investments LLC raised its holdings in Steven Madden by 15.1% in the 3rd quarter. Tidal Investments LLC now owns 17,375 shares of the textile maker's stock valued at $851,000 after acquiring an additional 2,278 shares during the period. Harbor Capital Advisors Inc. grew its position in shares of Steven Madden by 1.9% in the fourth quarter. Harbor Capital Advisors Inc. now owns 124,271 shares of the textile maker's stock valued at $5,284,000 after purchasing an additional 2,266 shares during the last quarter. Moody National Bank Trust Division increased its stake in shares of Steven Madden by 21.3% during the fourth quarter. Moody National Bank Trust Division now owns 11,983 shares of the textile maker's stock worth $510,000 after purchasing an additional 2,107 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in Steven Madden by 278.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 106,972 shares of the textile maker's stock worth $4,548,000 after purchasing an additional 78,672 shares during the last quarter. Institutional investors own 99.88% of the company's stock.
Steven Madden Company Profile
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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.
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