Steven Madden (NASDAQ:SHOO) Given “Market Perform” Rating at Telsey Advisory Group

Telsey Advisory Group restated their market perform rating on shares of Steven Madden (NASDAQ:SHOO) in a report released on Friday,Benzinga reports. Telsey Advisory Group currently has a $44.00 target price on the textile maker’s stock.

SHOO has been the subject of a number of other research reports. Piper Sandler lowered their price objective on shares of Steven Madden from $45.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. StockNews.com cut shares of Steven Madden from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Needham & Company LLC reissued a “hold” rating on shares of Steven Madden in a research report on Thursday. Finally, Citigroup decreased their price target on shares of Steven Madden from $45.00 to $38.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $43.33.

Steven Madden Stock Performance

NASDAQ:SHOO opened at $39.63 on Friday. The stock has a market capitalization of $2.86 billion, a P/E ratio of 16.86 and a beta of 1.07. The company has a 50 day moving average price of $41.29 and a 200 day moving average price of $43.89. Steven Madden has a fifty-two week low of $36.40 and a fifty-two week high of $50.01.

Steven Madden Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were issued a $0.21 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.12%. Steven Madden’s payout ratio is 35.74%.

Institutional Investors Weigh In On Steven Madden

Hedge funds and other institutional investors have recently modified their holdings of the company. Gladius Capital Management LP acquired a new stake in shares of Steven Madden in the 3rd quarter valued at $36,000. Exchange Traded Concepts LLC acquired a new stake in shares of Steven Madden in the 3rd quarter valued at $59,000. R Squared Ltd acquired a new stake in shares of Steven Madden in the 4th quarter valued at $55,000. Quarry LP raised its holdings in shares of Steven Madden by 403.6% in 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 in the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Steven Madden by 94.1% in the 3rd quarter. Blue Trust Inc. now owns 1,619 shares of the textile maker’s stock valued at $79,000 after purchasing an additional 785 shares in the last quarter. 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.