Steven Madden (NASDAQ:SHOO) Trading Up 9.5% – Time to Buy?

Steven Madden, Ltd. (NASDAQ:SHOO) shares rose 9.5% during mid-day trading on Monday . The stock traded as high as $27.27 and last traded at $27.40. Approximately 1,262,089 shares were traded during mid-day trading, an increase of 68% from the average daily volume of 752,752 shares. The stock had previously closed at $25.03.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on SHOO shares. Jefferies Financial Group reiterated a “hold” rating on shares of Steven Madden in a research note on Monday, February 3rd. Citigroup cut their price target on Steven Madden from $38.00 to $35.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. Telsey Advisory Group reduced their target price on shares of Steven Madden from $44.00 to $38.00 and set a “market perform” rating for the company in a research note on Thursday, February 27th. Needham & Company LLC reiterated a “hold” rating on shares of Steven Madden in a research report on Thursday, February 27th. Finally, StockNews.com lowered shares of Steven Madden from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Eight research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $40.33.

Steven Madden Price Performance

The firm’s fifty day simple moving average is $35.59 and its 200 day simple moving average is $41.67. The company has a market capitalization of $1.99 billion, a price-to-earnings ratio of 11.67 and a beta of 1.06.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings data on Wednesday, February 26th. The textile maker reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The firm had revenue of $582.32 million during the quarter, compared to analyst estimates of $550.37 million. Equities research analysts forecast that Steven Madden, Ltd. will post 2.66 earnings per share for the current fiscal year.

Steven Madden Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.06%. The ex-dividend date was Monday, March 10th. Steven Madden’s payout ratio is 35.74%.

Hedge Funds Weigh In On Steven Madden

Several institutional investors and hedge funds have recently bought and sold shares of the business. R Squared Ltd acquired a new stake in shares of Steven Madden during the fourth quarter worth approximately $55,000. Quarry LP boosted its stake in shares of Steven Madden by 403.6% during 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 period. Blue Trust Inc. boosted its stake in shares of Steven Madden by 20.9% during the 4th quarter. Blue Trust Inc. now owns 1,958 shares of the textile maker’s stock valued at $83,000 after buying an additional 339 shares during the period. KBC Group NV grew its holdings in shares of Steven Madden by 36.5% during the 4th quarter. KBC Group NV now owns 3,013 shares of the textile maker’s stock valued at $128,000 after acquiring an additional 805 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in shares of Steven Madden by 21.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,171 shares of the textile maker’s stock worth $176,000 after acquiring an additional 741 shares during the last quarter. Hedge funds and other institutional investors own 99.88% of the company’s stock.

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.