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

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

A number of other analysts also recently issued reports on the stock. StockNews.com downgraded shares of Steven Madden from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Telsey Advisory Group lowered their price target on shares of Steven Madden from $50.00 to $44.00 and set a “market perform” rating on the stock in a research note on Tuesday. Citigroup increased their price objective on shares of Steven Madden from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Steven Madden in a research report on Thursday, December 5th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $43.33.

Steven Madden Trading Down 2.7 %

Shares of NASDAQ SHOO opened at $37.29 on Tuesday. The company has a fifty day moving average price of $42.44 and a 200 day moving average price of $44.21. The firm has a market cap of $2.69 billion, a PE ratio of 15.87 and a beta of 1.07. Steven Madden has a 1-year low of $36.90 and a 1-year high of $50.01.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings results on Thursday, November 7th. The textile maker reported $0.91 EPS for the quarter, beating analysts’ consensus estimates 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 company’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.88 earnings per share. Equities research analysts forecast that Steven Madden will post 2.66 EPS for the current year.

Steven Madden Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders 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 annualized dividend and a dividend yield of 2.25%. Steven Madden’s dividend payout ratio is presently 35.74%.

Hedge Funds Weigh In On Steven Madden

Hedge funds and other institutional investors have recently bought and sold shares of the business. Gladius Capital Management LP acquired a new stake in shares of Steven Madden in the third quarter valued at approximately $36,000. R Squared Ltd acquired a new stake in Steven Madden during the 4th quarter valued at $55,000. Exchange Traded Concepts LLC bought a new position in Steven Madden during the third quarter worth $59,000. GAMMA Investing LLC increased its holdings in shares of Steven Madden by 80.6% in the third quarter. GAMMA Investing LLC now owns 1,329 shares of the textile maker’s stock valued at $65,000 after purchasing an additional 593 shares during the last quarter. Finally, Blue Trust Inc. raised its position in shares of Steven Madden by 94.1% in the third quarter. Blue Trust Inc. now owns 1,619 shares of the textile maker’s stock valued at $79,000 after purchasing an additional 785 shares during the period. 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.