Steven Madden (NASDAQ:SHOO) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Steven Madden (NASDAQ:SHOO) from a hold rating to a buy rating in a research report sent to investors on Saturday.

Several other equities analysts also recently commented on SHOO. Citigroup upped their target price on Steven Madden from $43.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Piper Sandler reissued a “neutral” rating and issued a $45.00 price objective on shares of Steven Madden in a report on Friday, August 23rd. Wedbush reiterated a “neutral” rating and issued a $41.00 price target on shares of Steven Madden in a research report on Wednesday, August 7th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $50.00 price target on shares of Steven Madden in a research note on Wednesday, November 13th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $45.43.

Steven Madden Price Performance

Shares of NASDAQ:SHOO opened at $42.53 on Friday. The company’s 50-day moving average price is $46.40 and its two-hundred day moving average price is $44.40. The stock has a market capitalization of $3.07 billion, a PE ratio of 18.10 and a beta of 1.08. Steven Madden has a one year low of $36.23 and a one year high of $50.01.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings data on Thursday, November 7th. The textile maker reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.02. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The company had revenue of $624.68 million during the quarter, compared to the consensus estimate of $607.89 million. During the same quarter last year, the firm posted $0.88 EPS. The company’s quarterly revenue was up 13.0% on a year-over-year basis. On average, analysts anticipate that Steven Madden will post 2.65 earnings per share for the current fiscal year.

Steven Madden Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend is Friday, December 13th. Steven Madden’s dividend payout ratio (DPR) is presently 35.74%.

Institutional Trading of Steven Madden

Hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. grew its stake in shares of Steven Madden by 9,166.7% in the second quarter. Blue Trust Inc. now owns 834 shares of the textile maker’s stock worth $35,000 after purchasing an additional 825 shares during the last quarter. Gladius Capital Management LP acquired a new stake in Steven Madden in the third quarter worth $36,000. Exchange Traded Concepts LLC acquired a new position in Steven Madden during the 3rd quarter worth approximately $59,000. GAMMA Investing LLC raised its position in shares of Steven Madden by 80.6% during the third quarter. GAMMA Investing LLC now owns 1,329 shares of the textile maker’s stock worth $65,000 after purchasing an additional 593 shares during the period. Finally, EntryPoint Capital LLC acquired a new position in shares of Steven Madden during the first quarter valued at about $81,000. Institutional investors and hedge funds own 99.88% of the company’s stock.

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.