Telsey Advisory Group Has Lowered Expectations for Steven Madden (NASDAQ:SHOO) Stock Price

Steven Madden (NASDAQ:SHOO) had its target price cut by Telsey Advisory Group from $50.00 to $44.00 in a research note released on Tuesday morning,Benzinga reports. They currently have a market perform rating on the textile maker’s stock.

SHOO has been the topic of a number of other research reports. StockNews.com downgraded shares of Steven Madden from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Needham & Company LLC reiterated a “hold” rating on shares of Steven Madden in a research report on Thursday, December 5th. Finally, Citigroup boosted their target price on shares of Steven Madden from $43.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $43.33.

Steven Madden Stock Performance

Shares of NASDAQ SHOO opened at $37.60 on Tuesday. The company has a market capitalization of $2.71 billion, a P/E ratio of 16.00 and a beta of 1.07. Steven Madden has a 52-week low of $36.88 and a 52-week high of $50.01. The company’s 50 day moving average price is $42.15 and its 200-day moving average price is $44.12.

Steven Madden (NASDAQ:SHOO) last released its earnings results on Thursday, November 7th. The textile maker reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.02. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The company had revenue of $624.68 million for the quarter, compared to the consensus estimate of $607.89 million. During the same quarter in the previous year, the company earned $0.88 EPS. Steven Madden’s quarterly revenue was up 13.0% compared to the same quarter last year. Analysts forecast that Steven Madden will post 2.66 earnings per share for the current year.

Steven Madden Dividend Announcement

The firm 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 2.23%. Steven Madden’s dividend payout ratio (DPR) is presently 35.74%.

Institutional Trading of Steven Madden

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp increased its stake in Steven Madden by 1.7% during the 3rd quarter. State Street Corp now owns 2,756,075 shares of the textile maker’s stock valued at $135,020,000 after purchasing an additional 47,017 shares in the last quarter. Pacer Advisors Inc. bought a new stake in shares of Steven Madden in the 4th quarter worth $72,795,000. 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. grew its stake in shares of 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 acquiring an additional 25,903 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Steven Madden by 2.1% in the 4th quarter. Bank of New York Mellon Corp now owns 837,865 shares of the textile maker’s stock worth $35,626,000 after acquiring an additional 17,173 shares in the last quarter. Institutional investors own 99.88% of the company’s stock.

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.