Steven Madden (NASDAQ:SHOO) Earns Market Perform Rating from Telsey Advisory Group

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

Other analysts also recently issued research reports about the company. BTIG Research boosted their price objective on Steven Madden from $50.00 to $53.00 and gave the stock a buy rating in a report on Thursday, June 6th. Wedbush restated a neutral rating and issued a $41.00 price target on shares of Steven Madden in a research report on Friday, May 17th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Hold and a consensus target price of $43.38.

Steven Madden Price Performance

SHOO stock opened at $44.02 on Thursday. The firm has a market cap of $3.23 billion, a PE ratio of 18.19 and a beta of 1.09. Steven Madden has a 12 month low of $30.35 and a 12 month high of $45.91. The firm has a 50 day simple moving average of $43.39 and a 200 day simple moving average of $42.24.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings data on Wednesday, May 1st. The textile maker reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.09. The company had revenue of $552.38 million during the quarter, compared to the consensus estimate of $525.04 million. Steven Madden had a return on equity of 22.68% and a net margin of 8.65%. The company’s quarterly revenue was up 19.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.50 EPS. As a group, sell-side analysts expect that Steven Madden will post 2.62 earnings per share for the current year.

Steven Madden Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Monday, June 10th were paid a $0.21 dividend. The ex-dividend date of this dividend was Monday, June 10th. This represents a $0.84 annualized dividend and a yield of 1.91%. Steven Madden’s dividend payout ratio is presently 34.71%.

Insider Buying and Selling at Steven Madden

In other news, insider Karla Frieders sold 10,000 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $44.91, for a total value of $449,100.00. Following the transaction, the insider now directly owns 86,658 shares of the company’s stock, valued at $3,891,810.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Karla Frieders sold 10,000 shares of Steven Madden stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $44.91, for a total transaction of $449,100.00. Following the completion of the sale, the insider now directly owns 86,658 shares in the company, valued at approximately $3,891,810.78. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Rose Peabody Lynch sold 1,600 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $44.41, for a total value of $71,056.00. Following the completion of the transaction, the director now owns 21,303 shares in the company, valued at approximately $946,066.23. The disclosure for this sale can be found here. Insiders sold 14,600 shares of company stock valued at $651,586 in the last quarter. Company insiders own 2.08% of the company’s stock.

Institutional Investors Weigh In On Steven Madden

Several institutional investors and hedge funds have recently modified their holdings of the business. Charles Schwab Investment Management Inc. increased its holdings in shares of Steven Madden by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,024,238 shares of the textile maker’s stock valued at $43,018,000 after acquiring an additional 26,177 shares during the last quarter. Seven Eight Capital LP raised its position in shares of Steven Madden by 902.5% in the first quarter. Seven Eight Capital LP now owns 49,265 shares of the textile maker’s stock valued at $2,083,000 after purchasing an additional 44,351 shares during the period. Corient Private Wealth LLC acquired a new stake in shares of Steven Madden in the fourth quarter worth $809,000. Quantbot Technologies LP bought a new stake in shares of Steven Madden during the 1st quarter worth $1,968,000. Finally, Quantedge Capital Pte Ltd acquired a new position in Steven Madden in the 4th quarter valued at $979,000. Institutional investors and hedge funds 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.