Steven Madden, Ltd. (NASDAQ:SHOO - Get Free Report) shares gapped up prior to trading on Monday following a dividend announcement from the company. The stock had previously closed at $24.75, but opened at $25.75. Steven Madden shares last traded at $25.98, with a volume of 104,823 shares trading hands.
The newly announced dividend which will be paid on Friday, June 20th. Investors of record on Monday, June 9th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 3.42%. Steven Madden's dividend payout ratio (DPR) is 36.21%.
Analyst Ratings Changes
Several research firms have weighed in on SHOO. Piper Sandler cut their target price on Steven Madden from $35.00 to $25.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Loop Capital dropped their price objective on Steven Madden from $40.00 to $35.00 and set a "hold" rating for the company in a research report on Thursday, February 27th. Citigroup decreased their target price on Steven Madden from $35.00 to $23.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Needham & Company LLC reissued a "hold" rating on shares of Steven Madden in a research note on Friday, May 2nd. Finally, UBS Group raised their price target on shares of Steven Madden from $22.00 to $23.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Nine equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $28.50.
Read Our Latest Research Report on SHOO
Steven Madden Price Performance
The company has a fifty day moving average price of $23.06 and a two-hundred day moving average price of $32.57. The company has a market capitalization of $1.78 billion, a P/E ratio of 10.45 and a beta of 1.12.
Steven Madden (NASDAQ:SHOO - Get Free Report) last posted its earnings results on Wednesday, May 7th. The textile maker reported $0.60 earnings per share 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 firm had revenue of $551.38 million for the quarter, compared to analyst estimates of $557.81 million. During the same period in the previous year, the firm posted $0.65 EPS. The company's revenue for the quarter was up .2% compared to the same quarter last year. As a group, sell-side analysts forecast that Steven Madden, Ltd. will post 2.66 earnings per share for the current year.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of SHOO. CX Institutional acquired a new stake in shares of Steven Madden in the first quarter valued at about $32,000. Caitong International Asset Management Co. Ltd boosted its holdings in Steven Madden by 328.8% in the first quarter. Caitong International Asset Management Co. Ltd now owns 2,161 shares of the textile maker's stock valued at $58,000 after acquiring an additional 1,657 shares during the last quarter. Quarry LP increased its position in Steven Madden by 403.6% during the 4th quarter. Quarry LP now owns 1,385 shares of the textile maker's stock valued at $59,000 after purchasing an additional 1,110 shares during the period. CWM LLC increased its position in Steven Madden by 231.0% during the 1st quarter. CWM LLC now owns 2,277 shares of the textile maker's stock valued at $61,000 after purchasing an additional 1,589 shares during the period. Finally, Covestor Ltd raised its holdings in Steven Madden by 22.9% during the 1st quarter. Covestor Ltd now owns 4,906 shares of the textile maker's stock worth $130,000 after purchasing an additional 915 shares during the last quarter. 99.88% of the stock is owned by institutional investors.
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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