Steven Madden (SHOO) Raised to “Hold” at BidaskClub
BidaskClub upgraded shares of Steven Madden (NASDAQ:SHOO) from a sell rating to a hold rating in a research note issued to investors on Thursday morning.
Other analysts have also issued reports about the company. Zacks Investment Research raised Steven Madden from a hold rating to a buy rating and set a $52.00 target price on the stock in a research report on Wednesday, January 10th. Canaccord Genuity set a $47.00 price target on Steven Madden and gave the stock a buy rating in a research note on Thursday, November 30th. Susquehanna Bancshares reiterated a buy rating and issued a $50.00 price target on shares of Steven Madden in a research note on Monday, December 4th. Wedbush reiterated a buy rating and issued a $53.00 price target on shares of Steven Madden in a research note on Tuesday, December 19th. Finally, Buckingham Research upgraded Steven Madden from a neutral rating to a buy rating and lifted their price target for the stock from $39.00 to $48.00 in a research note on Wednesday, November 29th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Steven Madden presently has a consensus rating of Buy and a consensus price target of $49.29.
Shares of Steven Madden (SHOO) traded up $1.39 during midday trading on Thursday, hitting $45.40. The stock had a trading volume of 454,409 shares, compared to its average volume of 494,592. Steven Madden has a twelve month low of $35.55 and a twelve month high of $49.28. The stock has a market capitalization of $2,668.70, a price-to-earnings ratio of 20.36, a price-to-earnings-growth ratio of 1.46 and a beta of 0.45.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Monday, March 12th will be paid a $0.20 dividend. The ex-dividend date is Friday, March 9th. This represents a $0.80 dividend on an annualized basis and a yield of 1.76%.
In other Steven Madden news, COO Awadhesh K. Sinha sold 6,500 shares of Steven Madden stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $45.03, for a total value of $292,695.00. Following the completion of the transaction, the chief operating officer now directly owns 63,383 shares in the company, valued at $2,854,136.49. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.06% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. Xact Kapitalforvaltning AB acquired a new position in Steven Madden in the fourth quarter valued at approximately $248,000. J. Goldman & Co LP acquired a new position in Steven Madden in the fourth quarter valued at approximately $4,375,000. CS Mckee LP boosted its stake in Steven Madden by 49.4% in the fourth quarter. CS Mckee LP now owns 33,275 shares of the textile maker’s stock valued at $1,554,000 after acquiring an additional 11,000 shares during the period. MetLife Investment Advisors LLC acquired a new position in Steven Madden in the fourth quarter valued at approximately $1,283,000. Finally, Municipal Employees Retirement System of Michigan boosted its stake in Steven Madden by 13.4% in the fourth quarter. Municipal Employees Retirement System of Michigan now owns 22,780 shares of the textile maker’s stock valued at $1,064,000 after acquiring an additional 2,700 shares during the period. Institutional investors own 93.32% of the company’s stock.
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About Steven Madden
Steven Madden, Ltd. and its subsidiaries design, source, market and sell name brand and private label footwear for women, men and children, and name brand and private label fashion handbags and accessories. The Company operates through five segments: Wholesale Footwear, Wholesale Accessories, Retail, First Cost and Licensing.
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