Steven Madden (NASDAQ:SHOO) Stock Gets Price Target Cut from Telsey Advisory Group

Steven Madden (NASDAQ:SHOO) had its target price lowered by Telsey Advisory Group from $55.00 to $50.00 in a report released on Friday,Benzinga reports. The firm currently has an outperform rating on the textile maker’s stock.

A number of other analysts also recently commented on SHOO. Williams Trading set a $56.00 price objective on shares of Steven Madden in a report on Monday, August 3rd. Capital One Financial set a $60.00 target price on shares of Steven Madden in a report on Tuesday, September 8th. Piper Sandler set a $55.00 target price on shares of Steven Madden and gave the company an “overweight” rating in a report on Wednesday, August 5th. Wall Street Zen upgraded shares of Steven Madden from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 17th. Finally, Citigroup reissued a “buy” rating and set a $55.00 price target (up from $45.00) on shares of Steven Madden in a research note on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.70.

Steven Madden Price Performance

Shares of NASDAQ SHOO opened at $39.50 on Friday. The firm has a market capitalization of $2.89 billion, a P/E ratio of 16.32 and a beta of 1.14. Steven Madden has a one year low of $31.33 and a one year high of $49.70. The company’s fifty day moving average is $43.69 and its two-hundred day moving average is $41.38. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.12 and a current ratio of 1.86.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings results on Thursday, November 5th. The textile maker reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.06. The business had revenue of $772.61 million for the quarter, compared to analysts’ expectations of $774.35 million. Steven Madden had a net margin of 6.16% and a return on equity of 16.19%. The business’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.43 EPS. Analysts forecast that Steven Madden will post 2.20 EPS for the current fiscal year.

Steven Madden Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 24th. Investors of record on Friday, December 11th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Friday, December 11th. This represents a $0.84 dividend on an annualized basis and a yield of 2.1%. Steven Madden’s dividend payout ratio is presently 34.71%.

Institutional Investors Weigh In On Steven Madden

Large investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its stake in Steven Madden by 4.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,353,331 shares of the textile maker’s stock valued at $79,819,000 after purchasing an additional 99,066 shares during the last quarter. Neumeier Poma Investment Counsel LLC purchased a new position in Steven Madden in the 2nd quarter valued at about $49,890,563. Aberdeen Group plc lifted its holdings in Steven Madden by 262.4% in the 3rd quarter. Aberdeen Group plc now owns 1,094,798 shares of the textile maker’s stock valued at $49,014,000 after purchasing an additional 792,676 shares in the last quarter. Vise Technologies Inc. purchased a new position in Steven Madden in the 3rd quarter valued at about $29,302,000. Finally, Fort Washington Investment Advisors Inc. OH boosted its stake in shares of Steven Madden by 13.6% during the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 645,578 shares of the textile maker’s stock worth $28,903,000 after purchasing an additional 77,108 shares during the last quarter. Institutional investors and hedge funds own 99.88% of the company’s stock.

About Steven Madden

Steven Madden, Ltd. designs, sources and markets footwear, handbags, apparel and other fashion accessories. Its portfolio includes the Steve Madden brand as well as brands such as Dolce Vita and Betsey Johnson.

The company sells through wholesale customers and its own retail and e-commerce channels, and also licenses its brands to third parties. Its business serves customers in the United States and international markets.

Founded by Steve Madden in 1990, the company is headquartered in Long Island City, New York.