Brokerages Set Steven Madden, Ltd. (NASDAQ:SHOO) Price Target at $43.43

Steven Madden, Ltd. (NASDAQ:SHOO) has been assigned an average recommendation of “Hold” from the nine analysts that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $43.4286.

SHOO has been the subject of several analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Steven Madden in a research report on Thursday, January 22nd. Telsey Advisory Group reissued an “outperform” rating and set a $50.00 price target on shares of Steven Madden in a research report on Thursday, February 26th. UBS Group restated a “neutral” rating on shares of Steven Madden in a report on Monday, February 23rd. BTIG Research reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Steven Madden in a research report on Thursday, February 26th. Finally, Zacks Research lowered shares of Steven Madden from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 5th.

Steven Madden Stock Performance

Shares of SHOO stock opened at $33.62 on Tuesday. The company has a current ratio of 1.90, a quick ratio of 1.11 and a debt-to-equity ratio of 0.26. The company has a market cap of $2.45 billion, a PE ratio of 54.23 and a beta of 1.13. The company’s fifty day simple moving average is $40.85 and its 200-day simple moving average is $37.89. Steven Madden has a 52 week low of $19.05 and a 52 week high of $46.88.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings results on Wednesday, February 25th. The textile maker reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.02. Steven Madden had a net margin of 1.76% and a return on equity of 13.60%. The firm had revenue of $753.70 million during the quarter, compared to analysts’ expectations of $758.53 million. During the same period in the prior year, the company earned $0.55 EPS. The firm’s revenue was up 29.6% on a year-over-year basis. As a group, equities research analysts anticipate that Steven Madden will post 2.66 EPS for the current year.

Steven Madden Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Wednesday, March 11th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a $0.84 annualized dividend and a yield of 2.5%. Steven Madden’s payout ratio is 135.48%.

Hedge Funds Weigh In On Steven Madden

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Scopus Asset Management L.P. acquired a new position in shares of Steven Madden in the third quarter worth about $36,451,000. Boston Partners purchased a new position in Steven Madden in the third quarter valued at about $33,319,000. Invesco Ltd. grew its stake in Steven Madden by 50.5% during the 2nd quarter. Invesco Ltd. now owns 2,426,926 shares of the textile maker’s stock valued at $58,198,000 after purchasing an additional 814,318 shares in the last quarter. Neumeier Poma Investment Counsel LLC increased its holdings in Steven Madden by 155.9% during the 3rd quarter. Neumeier Poma Investment Counsel LLC now owns 955,010 shares of the textile maker’s stock worth $31,974,000 after purchasing an additional 581,745 shares during the last quarter. Finally, Millennium Management LLC raised its position in shares of Steven Madden by 1,170.4% in the 1st quarter. Millennium Management LLC now owns 617,049 shares of the textile maker’s stock valued at $16,438,000 after purchasing an additional 568,477 shares in the last quarter. 99.88% of the stock is owned by hedge funds and other institutional investors.

Steven Madden Company Profile

Steven Madden, Inc (NASDAQ: SHOO) is a New York–based designer and marketer of fashion footwear, handbags and accessories. The company’s product portfolio spans a range of contemporary and lifestyle brands for women, men and children, including its core Steve Madden label as well as the Madden Girl and Dolce Vita brands. In addition to footwear, the company licenses its trademarks for use on apparel, eyewear and other fashion accessories.

Steven Madden distributes its products through multiple channels, including wholesale partners, e-commerce platforms and its own brick-and-mortar retail stores.