Telsey Advisory Group Cuts Steven Madden (NASDAQ:SHOO) Price Target to $38.00

Steven Madden (NASDAQ:SHOO) had its target price lowered by Telsey Advisory Group from $44.00 to $38.00 in a report issued on Thursday morning, MarketBeat reports. The brokerage currently has a market perform rating on the textile maker’s stock.

A number of other equities analysts have also weighed in on the company. StockNews.com lowered Steven Madden from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Citigroup reduced their target price on Steven Madden from $45.00 to $38.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. Piper Sandler reduced their target price on Steven Madden from $45.00 to $40.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. Jefferies Financial Group reissued a “hold” rating on shares of Steven Madden in a report on Monday, February 3rd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Steven Madden in a research report on Thursday, February 13th. Eight equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $40.33.

Steven Madden Stock Performance

Shares of NASDAQ SHOO opened at $33.22 on Thursday. The stock has a 50 day moving average price of $40.27 and a 200 day moving average price of $43.56. The stock has a market capitalization of $2.40 billion, a PE ratio of 14.14 and a beta of 1.07. Steven Madden has a 52 week low of $32.81 and a 52 week high of $50.01.

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

Steven Madden Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date of this dividend is Monday, March 10th. Steven Madden’s payout ratio is 35.74%.

Institutional Trading of Steven Madden

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Gladius Capital Management LP acquired a new position in Steven Madden during the 3rd quarter valued at about $36,000. R Squared Ltd purchased a new position in shares of Steven Madden in the 4th quarter worth approximately $55,000. Quarry LP boosted its stake in shares of Steven Madden by 403.6% in the 4th quarter. Quarry LP now owns 1,385 shares of the textile maker’s stock worth $59,000 after buying an additional 1,110 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Steven Madden by 94.1% in the 3rd quarter. Blue Trust Inc. now owns 1,619 shares of the textile maker’s stock worth $79,000 after purchasing an additional 785 shares during the period. Finally, International Assets Investment Management LLC raised its holdings in shares of Steven Madden by 4,800.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,911 shares of the textile maker’s stock worth $94,000 after purchasing an additional 1,872 shares during the period. 99.88% of the stock is owned by institutional investors.

Steven Madden Company Profile

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.