Steven Madden Sees Unusually Large Options Volume (NASDAQ:SHOO)

Steven Madden, Ltd. (NASDAQ:SHOO) was the target of some unusual options trading on Tuesday. Investors purchased 5,461 call options on the stock. This represents an increase of 789% compared to the typical volume of 614 call options.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Needham & Company LLC restated a “hold” rating on shares of Steven Madden in a report on Friday, May 2nd. Telsey Advisory Group restated a “market perform” rating and set a $24.00 price target on shares of Steven Madden in a research note on Wednesday, June 4th. Piper Sandler reduced their price objective on shares of Steven Madden from $35.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Loop Capital lowered their target price on shares of Steven Madden from $40.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, February 27th. Finally, UBS Group raised their target price on Steven Madden from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Thursday, May 8th. Nine research analysts have rated the stock with a hold rating, According to MarketBeat, Steven Madden currently has an average rating of “Hold” and an average price target of $28.50.

Hedge Funds Weigh In On Steven Madden

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Entropy Technologies LP bought a new stake in shares of Steven Madden in the 4th quarter worth approximately $716,000. New York State Teachers Retirement System lifted its position in Steven Madden by 0.8% in the fourth quarter. New York State Teachers Retirement System now owns 79,672 shares of the textile maker’s stock worth $3,388,000 after purchasing an additional 652 shares during the period. Rhumbline Advisers boosted its stake in Steven Madden by 1.8% during the fourth quarter. Rhumbline Advisers now owns 203,223 shares of the textile maker’s stock worth $8,641,000 after buying an additional 3,670 shares in the last quarter. State of New Jersey Common Pension Fund D increased its holdings in Steven Madden by 12.4% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 49,357 shares of the textile maker’s stock valued at $2,099,000 after buying an additional 5,434 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in Steven Madden by 3.1% in the 4th quarter. Principal Financial Group Inc. now owns 381,196 shares of the textile maker’s stock valued at $16,208,000 after buying an additional 11,602 shares during the period. 99.88% of the stock is currently owned by institutional investors.

Steven Madden Stock Performance

Shares of SHOO traded up $0.08 during mid-day trading on Tuesday, hitting $26.18. The company’s stock had a trading volume of 484,765 shares, compared to its average volume of 1,066,839. The stock’s 50-day moving average is $23.01 and its two-hundred day moving average is $32.62. The firm has a market capitalization of $1.90 billion, a PE ratio of 11.14 and a beta of 1.12. Steven Madden has a one year low of $19.05 and a one year high of $50.01.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings results on Wednesday, May 7th. The textile maker reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. The firm had revenue of $551.38 million during the quarter, compared to the consensus estimate of $557.81 million. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The business’s revenue was up .2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.65 EPS. Analysts expect that Steven Madden will post 2.66 EPS for the current fiscal year.

Steven Madden Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Monday, June 9th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.21%. The ex-dividend date is Monday, June 9th. Steven Madden’s payout ratio is presently 36.21%.

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.