Steven Madden (NASDAQ:SHOO) Stock Price Passes Above 200 Day Moving Average - Here's Why

Key Points

• Shares of Steven Madden (SHOO) crossed above their 200‑day moving average
• Analysts are mixed—five Buy, two Hold and two Sell—giving the stock an overall rating of "Hold" and a consensus price target of $44.00.
• Steven Madden reported quarterly EPS of $0.48 vs. $0.46 expected and revenue of $753.7M (up 29.6% YoY but slightly below estimates), and declared a $0.21 quarterly dividend (annualized $0.84, ~2.2% yield).

Shares of Steven Madden, Ltd. (NASDAQ:SHOO - Get Free Report) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $38.35 and traded as high as $38.45. Steven Madden shares last traded at $38.18, with a volume of 988,318 shares changing hands.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SHOO. UBS Group reissued a "neutral" rating on shares of Steven Madden in a report on Monday, February 23rd. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Steven Madden in a research note on Thursday, January 22nd. BTIG Research reaffirmed a "buy" rating and set a $50.00 target price on shares of Steven Madden in a report on Thursday, February 26th. Needham & Company LLC lowered their target price on shares of Steven Madden from $50.00 to $41.00 and set a "buy" rating on the stock in a research note on Wednesday, February 25th. Finally, Williams Trading set a $48.00 price target on shares of Steven Madden in a report on Tuesday, March 10th. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $44.00.

Steven Madden Trading Up 2.6%

The firm has a fifty day simple moving average of $35.97 and a two-hundred day simple moving average of $38.35. The stock has a market cap of $2.79 billion, a PE ratio of 61.58 and a beta of 1.13. The company has a current ratio of 1.90, a quick ratio of 1.11 and a debt-to-equity ratio of 0.26.

Steven Madden (NASDAQ:SHOO - Get Free Report) last issued its quarterly earnings results on Wednesday, February 25th. The textile maker reported $0.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.46 by $0.02. The firm had revenue of $753.70 million during the quarter, compared to the consensus estimate of $758.53 million. Steven Madden had a return on equity of 13.60% and a net margin of 1.76%.The company's revenue for the quarter was up 29.6% on a year-over-year basis. During the same quarter last year, the company posted $0.55 EPS. As a group, equities analysts expect that Steven Madden, Ltd. will post 2.66 earnings per share for the current fiscal year.

Steven Madden Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Wednesday, March 11th were given a dividend of $0.21 per share. The ex-dividend date was Wednesday, March 11th. This represents a $0.84 annualized dividend and a yield of 2.2%. Steven Madden's payout ratio is presently 135.48%.

Insider Activity at Steven Madden

In other news, Director Arian Simone Reed sold 3,600 shares of the stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $33.44, for a total value of $120,384.00. Following the transaction, the director owned 8,705 shares of the company's stock, valued at $291,095.20. This represents a 29.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.22% of the stock is owned by insiders.

Hedge Funds Weigh In On Steven Madden

A number of institutional investors have recently made changes to their positions in SHOO. AQR Capital Management LLC bought a new position in shares of Steven Madden in the 1st quarter worth $752,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Steven Madden by 3.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,919 shares of the textile maker's stock worth $1,143,000 after buying an additional 1,437 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Steven Madden by 1,170.4% in the 1st quarter. Millennium Management LLC now owns 617,049 shares of the textile maker's stock worth $16,438,000 after buying an additional 568,477 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Steven Madden by 5.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 202,270 shares of the textile maker's stock worth $5,388,000 after buying an additional 10,603 shares during the last quarter. Finally, Jane Street Group LLC increased its holdings in shares of Steven Madden by 273.1% in the 1st quarter. Jane Street Group LLC now owns 157,492 shares of the textile maker's stock worth $4,196,000 after buying an additional 115,284 shares during the last quarter. Institutional investors own 99.88% of the company's stock.

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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