Steven Madden (NASDAQ:SHOO) Director Sells $120,384.00 in Stock

Steven Madden, Ltd. (NASDAQ:SHOO) Director Arian Simone Reed sold 3,600 shares of the company’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $33.44, for a total value of $120,384.00. Following the transaction, the director directly owned 8,705 shares of the company’s stock, valued at $291,095.20. This represents a 29.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Steven Madden Stock Down 3.8%

Shares of Steven Madden stock opened at $31.37 on Friday. The firm has a market cap of $2.29 billion, a PE ratio of 50.60 and a beta of 1.13. The business’s 50 day simple moving average is $40.15 and its 200 day simple moving average is $37.96. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.11 and a current ratio of 1.90. Steven Madden, Ltd. has a 52-week low of $19.05 and a 52-week high of $46.88.

Steven Madden (NASDAQ:SHOO) last released 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. The firm had revenue of $753.70 million during the quarter, compared to the consensus estimate of $758.53 million. Steven Madden had a return on equity of 13.60% and a net margin of 1.76%.During the same quarter in the prior year, the firm posted $0.55 EPS. The business’s revenue was up 29.6% on a year-over-year basis. On average, analysts predict that Steven Madden, Ltd. will post 2.66 earnings per share for the current fiscal year.

Steven Madden Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Wednesday, March 11th will be issued a dividend of $0.21 per share. The ex-dividend date is Wednesday, March 11th. This represents a $0.84 annualized dividend and a yield of 2.7%. Steven Madden’s dividend payout ratio is presently 135.48%.

Wall Street Analyst Weigh In

SHOO has been the topic of several recent research reports. Telsey Advisory Group reiterated an “outperform” rating and issued a $50.00 price target on shares of Steven Madden in a research note on Thursday, February 26th. Zacks Research cut Steven Madden from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Steven Madden in a research report on Thursday, January 22nd. Needham & Company LLC dropped their target price on Steven Madden from $50.00 to $41.00 and set a “buy” rating on the stock in a report on Wednesday, February 25th. Finally, UBS Group reissued a “neutral” rating on shares of Steven Madden in a research report on Monday, February 23rd. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Steven Madden currently has a consensus rating of “Hold” and an average target price of $44.00.

Institutional Trading of Steven Madden

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Steven Madden by 2.5% during the 3rd quarter. Vanguard Group Inc. now owns 8,283,806 shares of the textile maker’s stock worth $277,342,000 after purchasing an additional 200,013 shares during the last quarter. Wellington Management Group LLP lifted its stake in Steven Madden by 18.1% in the 3rd quarter. Wellington Management Group LLP now owns 3,453,208 shares of the textile maker’s stock valued at $115,613,000 after purchasing an additional 528,829 shares during the last quarter. Invesco Ltd. grew its holdings in Steven Madden by 15.2% during the fourth quarter. Invesco Ltd. now owns 2,784,943 shares of the textile maker’s stock worth $115,965,000 after purchasing an additional 367,459 shares during the period. Capital Research Global Investors grew its holdings in Steven Madden by 14.0% during the third quarter. Capital Research Global Investors now owns 2,720,354 shares of the textile maker’s stock worth $91,077,000 after purchasing an additional 334,058 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Steven Madden by 1.7% during the third quarter. Dimensional Fund Advisors LP now owns 2,450,539 shares of the textile maker’s stock worth $82,046,000 after buying an additional 41,947 shares during the last quarter. Institutional investors and hedge funds own 99.88% of the company’s stock.

About Steven Madden

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.