Steven Madden (NASDAQ:SHOO) Shares Gap Up - Still a Buy?

Steven Madden, Ltd. (NASDAQ:SHOO - Get Free Report) gapped up prior to trading 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.

Analyst Ratings Changes

SHOO has been the topic of several research analyst reports. Piper Sandler dropped their target price on Steven Madden from $35.00 to $25.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Telsey Advisory Group reissued a "market perform" rating and issued a $24.00 target price on shares of Steven Madden in a research report on Thursday. UBS Group reduced their price objective on Steven Madden from $24.00 to $22.00 and set a "neutral" rating for the company in a research note on Wednesday, April 23rd. Needham & Company LLC reissued a "hold" rating on shares of Steven Madden in a report on Friday, May 2nd. Finally, Loop Capital reduced their target price on Steven Madden from $40.00 to $35.00 and set a "hold" rating for the company in a report on Thursday, February 27th. Nine investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, Steven Madden presently has an average rating of "Hold" and an average price target of $31.86.

Steven Madden Trading Up 0.7 %

The firm has a market cap of $1.71 billion, a price-to-earnings ratio of 10.03 and a beta of 1.04. The firm has a 50 day moving average price of $23.87 and a 200-day moving average price of $35.84.

Steven Madden (NASDAQ:SHOO - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The textile maker reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.14. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. The firm had revenue of $551.38 million during the quarter, compared to the consensus estimate of $557.81 million. During the same period in the previous year, the firm posted $0.65 EPS. The company's quarterly revenue was up .2% compared to the same quarter last year. As a group, equities analysts expect that Steven Madden, Ltd. will post 2.66 earnings per share for the current fiscal year.

Steven Madden Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Monday, June 9th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.56%. Steven Madden's payout ratio is currently 35.74%.

Institutional Investors Weigh In On Steven Madden

A number of institutional investors have recently modified their holdings of SHOO. Pictet Asset Management Holding SA increased its stake in Steven Madden by 17.9% during the 4th quarter. Pictet Asset Management Holding SA now owns 10,503 shares of the textile maker's stock valued at $447,000 after buying an additional 1,594 shares during the period. Bank of Montreal Can boosted its position in Steven Madden by 5.5% during the 4th quarter. Bank of Montreal Can now owns 10,660 shares of the textile maker's stock worth $453,000 after acquiring an additional 554 shares during the period. Principal Financial Group Inc. increased its holdings in shares of 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 period. JPMorgan Chase & Co. grew its stake in Steven Madden by 26.4% in the fourth quarter. JPMorgan Chase & Co. now owns 584,068 shares of the textile maker's stock valued at $24,835,000 after purchasing an additional 121,972 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Steven Madden by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,122,680 shares of the textile maker's stock valued at $47,736,000 after buying an additional 25,903 shares during the last quarter. Institutional investors and hedge funds 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.