Steven Madden, Ltd. (NASDAQ:SHOO) has received a consensus rating of “Buy” from the fifteen brokerages that are presently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $54.00.
SHOO has been the topic of a number of analyst reports. Buckingham Research set a $54.00 price target on Steven Madden and gave the company a “buy” rating in a research note on Tuesday, April 24th. Zacks Investment Research upgraded Steven Madden from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a research note on Wednesday, May 2nd. BidaskClub upgraded Steven Madden from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 23rd. Loop Capital initiated coverage on Steven Madden in a research note on Monday, June 4th. They issued a “hold” rating and a $49.00 price target on the stock. Finally, Telsey Advisory Group raised their price target on Steven Madden from $55.00 to $61.00 and gave the company an “outperform” rating in a research note on Wednesday, June 6th.
In other news, Director Peter Migliorini sold 1,000 shares of Steven Madden stock in a transaction dated Monday, June 11th. The stock was sold at an average price of $54.18, for a total transaction of $54,180.00. Following the sale, the director now owns 6,826 shares in the company, valued at $369,832.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Awadhesh K. Sinha sold 4,000 shares of Steven Madden stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $57.50, for a total value of $230,000.00. Following the sale, the chief operating officer now owns 57,845 shares in the company, valued at approximately $3,326,087.50. The disclosure for this sale can be found here. Insiders have sold 11,000 shares of company stock worth $603,920 in the last quarter. Insiders own 1.77% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC increased its position in shares of Steven Madden by 26.2% during the first quarter. SG Americas Securities LLC now owns 29,455 shares of the textile maker’s stock worth $1,293,000 after purchasing an additional 6,120 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Steven Madden during the first quarter worth about $467,000. Municipal Employees Retirement System of Michigan increased its position in shares of Steven Madden by 4.6% during the first quarter. Municipal Employees Retirement System of Michigan now owns 23,830 shares of the textile maker’s stock worth $1,047,000 after purchasing an additional 1,050 shares in the last quarter. Eagle Asset Management Inc. increased its position in shares of Steven Madden by 5.8% during the first quarter. Eagle Asset Management Inc. now owns 1,783,712 shares of the textile maker’s stock worth $78,304,000 after purchasing an additional 98,063 shares in the last quarter. Finally, HL Financial Services LLC increased its position in shares of Steven Madden by 4.4% during the second quarter. HL Financial Services LLC now owns 80,949 shares of the textile maker’s stock worth $4,298,000 after purchasing an additional 3,392 shares in the last quarter. Institutional investors and hedge funds own 97.70% of the company’s stock.
NASDAQ:SHOO opened at $57.60 on Wednesday. The firm has a market capitalization of $3.33 billion, a P/E ratio of 25.71, a P/E/G ratio of 1.99 and a beta of 0.43. Steven Madden has a 12-month low of $37.25 and a 12-month high of $57.90.
Steven Madden (NASDAQ:SHOO) last released its earnings results on Tuesday, July 31st. The textile maker reported $0.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.02. Steven Madden had a return on equity of 17.01% and a net margin of 8.17%. The firm had revenue of $395.80 million during the quarter, compared to analyst estimates of $390.57 million. During the same period last year, the business posted $0.51 earnings per share. Steven Madden’s revenue was up 5.8% compared to the same quarter last year. research analysts anticipate that Steven Madden will post 2.68 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Tuesday, September 18th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date is Monday, September 17th. Steven Madden’s dividend payout ratio is presently 35.71%.
Steven Madden Company Profile
Steven Madden, Ltd. designs, sources, markets, and sells fashion-forward name brand and private label footwear for women, men, and children worldwide. Its Wholesale Footwear segment provides footwear under the Steve Madden Women's, Madden Girl, Steve Madden Men's, Madden, Madden NYC, Dolce Vita, DV by Dolce Vita, Mad Love, Steven by Steve Madden, Report, Superga, Betsey Johnson, Betseyville, Steve Madden Kids, FREEBIRD by Steven, Stevies, B Brian Atwood, Blondo, Kate Spade, and Avec Les Filles brands, as well as private label footwear.
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