Steven Madden (NASDAQ:SHOO) Upgraded at StockNews.com

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

SHOO has been the subject of several other research reports. Citigroup lifted their price objective on shares of Steven Madden from $43.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Steven Madden in a research note on Thursday, December 5th. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $50.00 price objective on shares of Steven Madden in a research report on Wednesday, November 13th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Steven Madden has an average rating of “Hold” and an average target price of $46.33.

Steven Madden Trading Down 0.9 %

Shares of SHOO opened at $41.19 on Monday. The firm’s fifty day simple moving average is $43.66 and its two-hundred day simple moving average is $44.50. Steven Madden has a 12 month low of $37.99 and a 12 month high of $50.01. The stock has a market capitalization of $2.97 billion, a P/E ratio of 17.53 and a beta of 1.08.

Steven Madden (NASDAQ:SHOO) last announced its earnings results 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 company had revenue of $624.68 million for 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 firm’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.88 EPS. As a group, research analysts predict that Steven Madden will post 2.66 EPS for the current fiscal year.

Steven Madden Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were paid a dividend of $0.21 per share. The ex-dividend date was Friday, December 13th. This represents a $0.84 dividend on an annualized basis and a yield of 2.04%. Steven Madden’s dividend payout ratio (DPR) is currently 35.74%.

Institutional Trading of Steven Madden

Several institutional investors and hedge funds have recently modified their holdings of the stock. State Street Corp grew its holdings in Steven Madden by 1.7% during the third quarter. State Street Corp now owns 2,756,075 shares of the textile maker’s stock worth $135,020,000 after buying an additional 47,017 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Steven Madden by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,710,492 shares of the textile maker’s stock worth $83,812,000 after acquiring an additional 49,075 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Steven Madden by 3.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,096,777 shares of the textile maker’s stock valued at $53,731,000 after purchasing an additional 32,696 shares during the last quarter. Fisher Asset Management LLC lifted its position in shares of Steven Madden by 0.6% during the third quarter. Fisher Asset Management LLC now owns 728,674 shares of the textile maker’s stock valued at $35,698,000 after purchasing an additional 4,108 shares in the last quarter. Finally, abrdn plc boosted its holdings in Steven Madden by 2.7% during the third quarter. abrdn plc now owns 558,015 shares of the textile maker’s stock worth $27,242,000 after purchasing an additional 14,841 shares during the last quarter. 99.88% of the stock is owned by hedge funds and other institutional investors.

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.