Zacks Investment Research cut shares of Steven Madden Ltd. (NASDAQ:SHOO) from a buy rating to a hold rating in a research note released on Wednesday morning.

According to Zacks, “Steven Madden, Ltd. designs, sources, markets and sells fashion-forward footwear brands for women, men and children. They distribute products through their retail stores, their e-commerce websites, catalogs and department and specialty store “

Other research analysts have also recently issued research reports about the stock. B. Riley restated a neutral rating and issued a $40.00 price objective on shares of Steven Madden in a report on Wednesday, November 2nd. Jefferies Group set a $40.00 price objective on shares of Steven Madden and gave the company a buy rating in a report on Wednesday, August 3rd. Telsey Advisory Group dropped their price objective on shares of Steven Madden from $40.00 to $38.00 and set an outperform rating for the company in a report on Wednesday, August 3rd. Piper Jaffray Cos. restated a hold rating and issued a $34.00 price objective on shares of Steven Madden in a report on Friday, July 29th. Finally, Susquehanna began coverage on shares of Steven Madden in a report on Friday, August 12th. They issued a positive rating and a $42.00 price objective for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $38.40.

Analyst Recommendations for Steven Madden (NASDAQ:SHOO)

Steven Madden (NASDAQ:SHOO) traded up 1.527% on Wednesday, hitting $38.225. 385,431 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $35.14 and its 200-day moving average price is $34.69. The company has a market cap of $2317.39 billion, a PE ratio of 19.404 and a beta of 0.52. Steven Madden has a 12-month low of $27.80 and a 12-month high of $40.55.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings data on Tuesday, November 1st. The company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.04. The firm earned $408.40 million during the quarter, compared to analysts’ expectations of $404.58 million. Steven Madden had a net margin of 8.11% and a return on equity of 16.26%. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.70 earnings per share. Analysts forecast that Steven Madden will post $2.02 earnings per share for the current year.

In other news, Director Peter Migliorini sold 2,592 shares of the company’s stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of $38.96, for a total transaction of $100,984.32. Following the transaction, the director now directly owns 2,977 shares of the company’s stock, valued at approximately $115,983.92. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Arvind Dharia sold 20,000 shares of the company’s stock in a transaction on Wednesday, November 9th. The stock was sold at an average price of $37.15, for a total transaction of $743,000.00. Following the transaction, the chief financial officer now directly owns 101,662 shares in the company, valued at $3,776,743.30. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Kornitzer Capital Management Inc. KS boosted its position in Steven Madden by 83.0% in the second quarter. Kornitzer Capital Management Inc. KS now owns 342,525 shares of the company’s stock worth $11,708,000 after buying an additional 155,325 shares during the period. Emerald Mutual Fund Advisers Trust boosted its stake in shares of Steven Madden by 15.8% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 537,705 shares of the company’s stock worth $18,379,000 after buying an additional 73,531 shares during the last quarter. Boston Partners boosted its stake in shares of Steven Madden by 1.2% in the second quarter. Boston Partners now owns 952,313 shares of the company’s stock worth $32,550,000 after buying an additional 11,345 shares during the last quarter. State Street Corp boosted its stake in shares of Steven Madden by 0.9% in the first quarter. State Street Corp now owns 1,161,844 shares of the company’s stock worth $43,032,000 after buying an additional 9,935 shares during the last quarter. Finally, California State Teachers Retirement System boosted its stake in shares of Steven Madden by 8.2% in the second quarter. California State Teachers Retirement System now owns 129,362 shares of the company’s stock worth $4,422,000 after buying an additional 9,791 shares during the last quarter. 94.39% of the stock is currently owned by institutional investors and hedge funds.

Steven Madden Company Profile

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