Steven Madden (NASDAQ:SHOO) Given “Market Perform” Rating at Telsey Advisory Group

Telsey Advisory Group reissued their market perform rating on shares of Steven Madden (NASDAQ:SHOO) in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a $44.00 price target on the textile maker’s stock. Telsey Advisory Group also issued estimates for Steven Madden’s Q1 2025 earnings at $0.64 EPS, Q2 2025 earnings at $0.56 EPS, Q3 2025 earnings at $0.99 EPS and Q4 2025 earnings at $0.65 EPS.

A number of other analysts have also commented on the company. StockNews.com raised Steven Madden from a hold rating to a buy rating in a research note on Thursday, February 29th. Piper Sandler started coverage on Steven Madden in a research note on Wednesday, February 14th. They set a neutral rating and a $45.00 price objective on the stock. Jefferies Financial Group reaffirmed a hold rating and set a $40.00 price objective on shares of Steven Madden in a research note on Thursday, January 4th. Citigroup increased their price objective on Steven Madden from $41.00 to $43.00 and gave the company a neutral rating in a research note on Thursday, February 29th. Finally, Wedbush increased their target price on Steven Madden from $36.00 to $38.00 and gave the stock a neutral rating in a research report on Wednesday, February 7th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $41.38.

Steven Madden Stock Performance

Steven Madden stock opened at $40.48 on Friday. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of 17.60 and a beta of 1.16. Steven Madden has a fifty-two week low of $29.92 and a fifty-two week high of $45.63. The stock’s fifty day moving average is $41.49 and its two-hundred day moving average is $39.68.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings data on Wednesday, February 28th. The textile maker reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.05. The business had revenue of $519.71 million for the quarter, compared to analyst estimates of $511.96 million. Steven Madden had a return on equity of 21.61% and a net margin of 8.67%. The business’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.44 earnings per share. As a group, sell-side analysts forecast that Steven Madden will post 2.61 EPS for the current fiscal year.

Steven Madden Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.84 annualized dividend and a yield of 2.08%. Steven Madden’s dividend payout ratio (DPR) is presently 36.52%.

Insider Buying and Selling

In other news, Director Peter Allan Davis sold 1,200 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $42.13, for a total value of $50,556.00. Following the transaction, the director now directly owns 5,751 shares in the company, valued at approximately $242,289.63. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Edward R. Rosenfeld sold 48,500 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $41.49, for a total value of $2,012,265.00. Following the transaction, the chief executive officer now directly owns 697,038 shares in the company, valued at approximately $28,920,106.62. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Peter Allan Davis sold 1,200 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $42.13, for a total value of $50,556.00. Following the completion of the transaction, the director now owns 5,751 shares in the company, valued at $242,289.63. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 59,346 shares of company stock worth $2,464,841. 2.01% of the stock is owned by company insiders.

Hedge Funds Weigh In On Steven Madden

A number of large investors have recently modified their holdings of the company. abrdn plc purchased a new stake in shares of Steven Madden during the 4th quarter valued at about $20,351,000. Norges Bank acquired a new stake in Steven Madden during the 4th quarter valued at approximately $19,846,000. Victory Capital Management Inc. grew its stake in Steven Madden by 52.9% during the 3rd quarter. Victory Capital Management Inc. now owns 1,319,809 shares of the textile maker’s stock valued at $41,930,000 after purchasing an additional 456,412 shares in the last quarter. Lazard Asset Management LLC grew its stake in Steven Madden by 348.9% during the 3rd quarter. Lazard Asset Management LLC now owns 447,018 shares of the textile maker’s stock valued at $14,201,000 after purchasing an additional 347,431 shares in the last quarter. Finally, Pacer Advisors Inc. grew its stake in Steven Madden by 30.7% during the 4th quarter. Pacer Advisors Inc. now owns 1,469,956 shares of the textile maker’s stock valued at $61,738,000 after purchasing an additional 345,558 shares in the last quarter. 99.88% of the stock is currently owned by hedge funds and other institutional investors.

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.