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

Steven Madden, Ltd. (NASDAQ:SHOO - Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $24.58, but opened at $26.56. Steven Madden shares last traded at $26.01, with a volume of 455,217 shares changing hands.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Telsey Advisory Group restated a "market perform" rating and set a $24.00 target price on shares of Steven Madden in a research report on Wednesday, June 4th. UBS Group boosted their target price on shares of Steven Madden from $22.00 to $23.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Piper Sandler lowered their target price on shares of Steven Madden from $35.00 to $25.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Needham & Company LLC reissued a "hold" rating on shares of Steven Madden in a research note on Friday, May 2nd. Finally, Citigroup raised shares of Steven Madden from a "neutral" rating to a "buy" rating and increased their target price for the stock from $26.00 to $32.00 in a research note on Thursday. Eight equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $30.00.

Steven Madden Stock Performance

The stock has a market capitalization of $1.92 billion, a PE ratio of 11.41 and a beta of 1.10. The stock's 50 day moving average is $24.93 and its two-hundred day moving average is $29.06.

Steven Madden (NASDAQ:SHOO - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The textile maker reported $0.60 EPS for the quarter, beating analysts' consensus estimates of $0.46 by $0.14. The company had revenue of $551.38 million during the quarter, compared to the consensus estimate of $557.81 million. Steven Madden had a net margin of 7.26% and a return on equity of 21.63%. Steven Madden's quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.65 EPS. Equities research analysts expect that Steven Madden, Ltd. will post 2.66 EPS for the current fiscal year.

Steven Madden Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Monday, June 9th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 3.17%. Steven Madden's payout ratio is 36.21%.

Institutional Trading of Steven Madden

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Mariner LLC increased its holdings in shares of Steven Madden by 7.2% during the 4th quarter. Mariner LLC now owns 4,740 shares of the textile maker's stock worth $202,000 after buying an additional 319 shares during the last quarter. Tidal Investments LLC increased its holdings in shares of Steven Madden by 2.4% during the 4th quarter. Tidal Investments LLC now owns 17,784 shares of the textile maker's stock worth $756,000 after buying an additional 409 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of 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 buying an additional 554 shares during the last quarter. Xponance Inc. increased its holdings in shares of Steven Madden by 12.3% during the 4th quarter. Xponance Inc. now owns 5,320 shares of the textile maker's stock worth $226,000 after buying an additional 584 shares during the last quarter. Finally, HighTower Advisors LLC increased its holdings in Steven Madden by 11.7% in the 4th quarter. HighTower Advisors LLC now owns 6,439 shares of the textile maker's stock valued at $274,000 after purchasing an additional 676 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.