Steven Madden (SHOO) Lowered to “Sell” at ValuEngine

ValuEngine downgraded shares of Steven Madden (NASDAQ:SHOO) from a hold rating to a sell rating in a research note released on Friday morning.

SHOO has been the subject of a number of other reports. BidaskClub cut Steven Madden from a hold rating to a sell rating in a report on Friday, September 28th. Zacks Investment Research cut Steven Madden from a hold rating to a sell rating in a report on Monday, July 23rd. Loop Capital restated a hold rating and set a $36.00 target price on shares of Steven Madden in a report on Tuesday, July 31st. Wedbush cut Steven Madden from an outperform rating to a neutral rating and raised their target price for the company from $34.00 to $36.67 in a report on Wednesday, July 11th. They noted that the move was a valuation call. Finally, Macquarie started coverage on Steven Madden in a report on Wednesday, June 27th. They set an outperform rating for the company. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $36.39.

Shares of NASDAQ SHOO traded up $0.17 during mid-day trading on Friday, reaching $30.28. 1,398,114 shares of the company’s stock were exchanged, compared to its average volume of 677,732. The stock has a market cap of $3.09 billion, a PE ratio of 13.52, a P/E/G ratio of 1.85 and a beta of 0.53. Steven Madden has a 52-week low of $24.83 and a 52-week high of $39.30.

Steven Madden (NASDAQ:SHOO) last released its quarterly earnings results on Tuesday, July 31st. The textile maker reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. The business had revenue of $395.80 million during the quarter, compared to analysts’ expectations of $390.57 million. Steven Madden had a return on equity of 17.01% and a net margin of 8.17%. The company’s revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.34 EPS. Analysts expect that Steven Madden will post 2.68 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Tuesday, September 18th were issued a dividend of $0.1333 per share. This represents a $0.53 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date was Monday, September 17th. Steven Madden’s dividend payout ratio (DPR) is 35.71%.

In other news, insider Karla Frieders sold 7,000 shares of Steven Madden stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $56.89, for a total value of $398,230.00. Following the completion of the transaction, the insider now owns 75,280 shares in the company, valued at approximately $4,282,679.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Awadhesh K. Sinha sold 4,000 shares of Steven Madden stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $57.50, for a total value of $230,000.00. Following the completion of the transaction, the chief operating officer now owns 57,845 shares of the company’s stock, valued at approximately $3,326,087.50. The disclosure for this sale can be found here. Insiders sold a total of 13,500 shares of company stock valued at $771,405 in the last quarter. Company insiders own 1.77% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Steven Madden by 6.5% in the 2nd quarter. BlackRock Inc. now owns 7,499,094 shares of the textile maker’s stock valued at $398,201,000 after buying an additional 459,305 shares during the period. Victory Capital Management Inc. raised its position in shares of Steven Madden by 131.6% during the 2nd quarter. Victory Capital Management Inc. now owns 1,949,545 shares of the textile maker’s stock worth $103,520,000 after acquiring an additional 1,107,668 shares in the last quarter. Eagle Asset Management Inc. raised its position in shares of Steven Madden by 2.8% during the 2nd quarter. Eagle Asset Management Inc. now owns 1,834,111 shares of the textile maker’s stock worth $97,391,000 after acquiring an additional 50,399 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Steven Madden by 0.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,723,829 shares of the textile maker’s stock worth $75,676,000 after acquiring an additional 6,574 shares in the last quarter. Finally, Jennison Associates LLC raised its position in shares of Steven Madden by 35.7% during the 2nd quarter. Jennison Associates LLC now owns 1,311,602 shares of the textile maker’s stock worth $69,646,000 after acquiring an additional 345,001 shares in the last quarter. Institutional investors and hedge funds own 95.88% of the company’s stock.

About Steven Madden

Steven Madden, Ltd. designs, sources, markets, and sells fashion-forward name brand and private label footwear for women, men, and children worldwide. Its Wholesale Footwear segment provides footwear under the Steve Madden Women's, Madden Girl, Steve Madden Men's, Madden, Madden NYC, Dolce Vita, DV by Dolce Vita, Mad Love, Steven by Steve Madden, Report, Superga, Betsey Johnson, Betseyville, Steve Madden Kids, FREEBIRD by Steven, Stevies, B Brian Atwood, Blondo, Kate Spade, and Avec Les Filles brands, as well as private label footwear.

Featured Story: Understanding Relative Strength Index

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Steven Madden (NASDAQ:SHOO)

Receive News & Ratings for Steven Madden Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Steven Madden and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply