Steven Madden's (SHOO) "Market Perform" Rating Reiterated at Telsey Advisory Group

Telsey Advisory Group restated their market perform rating on shares of Steven Madden (NASDAQ:SHOO - Free Report) in a research note released on Wednesday,Benzinga reports. They currently have a $24.00 price target on the textile maker's stock.

A number of other analysts have also recently issued reports on SHOO. Piper Sandler decreased their target price on Steven Madden from $35.00 to $25.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Needham & Company LLC reissued a "hold" rating on shares of Steven Madden in a report on Friday, May 2nd. UBS Group raised their target price on shares of Steven Madden from $22.00 to $23.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Loop Capital lowered their target price on shares of Steven Madden from $40.00 to $35.00 and set a "hold" rating on the stock in a research report on Thursday, February 27th. Finally, Citigroup lowered their target price on shares of Steven Madden from $35.00 to $23.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Nine investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Steven Madden presently has an average rating of "Hold" and an average target price of $32.00.

Steven Madden Stock Performance

Shares of Steven Madden stock remained flat at $24.67 during trading on Wednesday. 1,306,126 shares of the stock traded hands, compared to its average volume of 1,060,924. The business's 50-day simple moving average is $23.14 and its 200-day simple moving average is $33.12. The company has a market cap of $1.79 billion, a PE ratio of 10.50 and a beta of 1.04. Steven Madden has a 1-year low of $19.05 and a 1-year high of $50.01.

Steven Madden (NASDAQ:SHOO - Get Free Report) last posted its earnings results on Wednesday, May 7th. The textile maker reported $0.60 EPS for the quarter, beating the consensus estimate of $0.46 by $0.14. The firm had revenue of $551.38 million for the quarter, compared to analyst estimates of $557.81 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. Steven Madden's revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.65 earnings per share. On average, equities analysts forecast that Steven Madden will post 2.66 earnings per share for the current year.

Steven Madden Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Monday, June 9th will be given a $0.21 dividend. The ex-dividend date is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 3.40%. Steven Madden's payout ratio is currently 36.21%.

Institutional Investors Weigh In On Steven Madden

A number of hedge funds and other institutional investors have recently modified their holdings of SHOO. CX Institutional acquired a new stake in shares of Steven Madden during the 1st quarter valued at approximately $32,000. Caitong International Asset Management Co. Ltd lifted its position in shares of Steven Madden by 328.8% during the 1st 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 period. Quarry LP lifted its position in shares of 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 acquiring an additional 1,110 shares during the period. CWM LLC lifted its position in shares of 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 acquiring an additional 1,589 shares during the period. Finally, Blue Trust Inc. lifted its position in shares of Steven Madden by 20.9% during the 4th quarter. Blue Trust Inc. now owns 1,958 shares of the textile maker's stock valued at $83,000 after acquiring an additional 339 shares during the period. 99.88% of the stock is currently owned by institutional investors and hedge funds.

About Steven Madden

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.