Steven Madden (NASDAQ:SHOO) Given New $35.00 Price Target at Loop Capital

Steven Madden (NASDAQ:SHOO) had its price target decreased by Loop Capital from $40.00 to $35.00 in a research report sent to investors on Thursday,Benzinga reports. Loop Capital currently has a hold rating on the textile maker’s stock.

Other equities analysts have also recently issued research reports about the company. Needham & Company LLC reiterated a “hold” rating on shares of Steven Madden in a report on Thursday. StockNews.com cut Steven Madden from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Piper Sandler reduced their target price on Steven Madden from $45.00 to $40.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. Citigroup reduced their target price on Steven Madden from $38.00 to $35.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, Jefferies Financial Group restated a “hold” rating on shares of Steven Madden in a report on Monday, February 3rd. Eight analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $40.33.

Steven Madden Stock Performance

Shares of NASDAQ:SHOO opened at $33.22 on Thursday. Steven Madden has a twelve month low of $32.81 and a twelve month high of $50.01. The firm has a market cap of $2.40 billion, a PE ratio of 14.14 and a beta of 1.07. The business has a fifty day moving average of $40.27 and a 200-day moving average of $43.56.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings results on Wednesday, February 26th. The textile maker reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.02. The business had revenue of $582.32 million for the quarter, compared to analysts’ expectations of $550.37 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. On average, analysts anticipate that Steven Madden will post 2.66 EPS for the current fiscal year.

Steven Madden Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Monday, March 10th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.53%. The ex-dividend date of this dividend is Monday, March 10th. Steven Madden’s dividend payout ratio (DPR) is presently 35.74%.

Hedge Funds Weigh In On Steven Madden

Several institutional investors have recently modified their holdings of SHOO. Gladius Capital Management LP bought a new position in shares of Steven Madden during the 3rd quarter valued at about $36,000. R Squared Ltd bought a new position in shares of Steven Madden during the 4th quarter valued at about $55,000. Quarry LP raised its position in Steven Madden by 403.6% in the 4th quarter. Quarry LP now owns 1,385 shares of the textile maker’s stock valued at $59,000 after buying an additional 1,110 shares during the last quarter. Blue Trust Inc. raised its position in Steven Madden by 94.1% in the 3rd quarter. Blue Trust Inc. now owns 1,619 shares of the textile maker’s stock valued at $79,000 after buying an additional 785 shares during the last quarter. Finally, International Assets Investment Management LLC raised its position in Steven Madden by 4,800.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,911 shares of the textile maker’s stock valued at $94,000 after buying an additional 1,872 shares during the last quarter. 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.