Steven Madden (NASDAQ:SHOO) Given New $40.00 Price Target at Piper Sandler

Steven Madden (NASDAQ:SHOO) had its price target decreased by Piper Sandler from $45.00 to $40.00 in a report published on Tuesday,Benzinga reports. Piper Sandler currently has a neutral rating on the textile maker’s stock.

Other equities analysts have also issued research reports about the company. Citigroup raised their price objective on Steven Madden from $43.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Telsey Advisory Group lowered their price objective on Steven Madden from $50.00 to $44.00 and set a “market perform” rating for the company in a research report on Tuesday. Needham & Company LLC reissued a “hold” rating on shares of Steven Madden in a research report on Thursday, December 5th. Finally, StockNews.com lowered Steven Madden from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $43.33.

Steven Madden Price Performance

Shares of SHOO stock opened at $37.60 on Tuesday. The stock has a fifty day moving average of $42.15 and a 200 day moving average of $44.12. Steven Madden has a 52 week low of $36.88 and a 52 week high of $50.01. The firm has a market capitalization of $2.71 billion, a price-to-earnings ratio of 16.00 and a beta of 1.07.

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 the consensus estimate of $0.89 by $0.02. The business had revenue of $624.68 million during the quarter, compared to analyst estimates of $607.89 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.88 earnings per share. Equities research analysts anticipate that Steven Madden will post 2.66 earnings per share for the current year.

Steven Madden Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.23%. The ex-dividend date was Friday, December 13th. Steven Madden’s dividend payout ratio is presently 35.74%.

Hedge Funds Weigh In On Steven Madden

Several large investors have recently modified their holdings of the stock. Vestmark Advisory Solutions Inc. raised its position in shares of Steven Madden by 20.0% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 5,407 shares of the textile maker’s stock worth $230,000 after purchasing an additional 902 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Steven Madden in the 4th quarter worth about $13,652,000. Cookson Peirce & Co. Inc. increased its holdings in Steven Madden by 16.0% in the 4th quarter. Cookson Peirce & Co. Inc. now owns 13,504 shares of the textile maker’s stock worth $574,000 after buying an additional 1,861 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Steven Madden by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,122,680 shares of the textile maker’s stock worth $47,736,000 after buying an additional 25,903 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in Steven Madden by 21.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,171 shares of the textile maker’s stock worth $176,000 after buying an additional 741 shares in the last quarter. Hedge funds and other institutional investors 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.