Steven Madden, Ltd. (SHOO) Receives Consensus Rating of “Hold” from Analysts

Steven Madden, Ltd. (NASDAQ:SHOO) has received a consensus rating of “Hold” from the thirteen brokerages that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $34.66.

Several brokerages have recently weighed in on SHOO. Piper Jaffray Companies downgraded shares of Steven Madden from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $38.00 to $32.00 in a research note on Tuesday, May 14th. B. Riley restated a “buy” rating and issued a $38.00 target price on shares of Steven Madden in a research note on Monday, February 25th. Zacks Investment Research upgraded shares of Steven Madden from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research note on Friday, February 15th. BidaskClub downgraded shares of Steven Madden from a “hold” rating to a “sell” rating in a research note on Wednesday, March 6th. Finally, Canaccord Genuity set a $41.00 target price on shares of Steven Madden and gave the company a “buy” rating in a research note on Friday, April 26th.

In related news, EVP Michael Paradise sold 2,000 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $35.99, for a total value of $71,980.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Rose Peabody Lynch sold 2,760 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $35.83, for a total transaction of $98,890.80. The disclosure for this sale can be found here. Insiders sold 14,027 shares of company stock worth $458,148 over the last ninety days. 1.96% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of SHOO. BlackRock Inc. raised its holdings in shares of Steven Madden by 50.1% during the fourth quarter. BlackRock Inc. now owns 11,790,955 shares of the textile maker’s stock worth $356,795,000 after purchasing an additional 3,933,542 shares during the period. Macquarie Group Ltd. raised its holdings in shares of Steven Madden by 5.2% during the first quarter. Macquarie Group Ltd. now owns 3,787,180 shares of the textile maker’s stock worth $128,164,000 after purchasing an additional 186,919 shares during the period. FMR LLC raised its holdings in shares of Steven Madden by 54.3% during the fourth quarter. FMR LLC now owns 3,120,538 shares of the textile maker’s stock worth $94,428,000 after purchasing an additional 1,097,757 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Steven Madden by 2.7% during the first quarter. Victory Capital Management Inc. now owns 2,710,023 shares of the textile maker’s stock worth $91,707,000 after purchasing an additional 72,423 shares during the period. Finally, Wellington Management Group LLP raised its holdings in shares of Steven Madden by 7.5% during the first quarter. Wellington Management Group LLP now owns 2,676,213 shares of the textile maker’s stock worth $90,563,000 after purchasing an additional 186,379 shares during the period. 96.58% of the stock is currently owned by hedge funds and other institutional investors.

Shares of SHOO stock opened at $30.29 on Friday. The firm has a market capitalization of $2.60 billion, a PE ratio of 16.55, a PEG ratio of 1.91 and a beta of 0.60. Steven Madden has a twelve month low of $27.88 and a twelve month high of $39.30.

Steven Madden (NASDAQ:SHOO) last announced its earnings results on Thursday, April 25th. The textile maker reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.05. The business had revenue of $410.90 million during the quarter, compared to the consensus estimate of $404.31 million. Steven Madden had a net margin of 8.06% and a return on equity of 19.36%. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.54 earnings per share. As a group, analysts anticipate that Steven Madden will post 1.84 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Tuesday, June 18th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.56 annualized dividend and a yield of 1.85%. Steven Madden’s dividend payout ratio is presently 30.60%.

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, Report, Dolce Vita, DV by Dolce Vita, Mad Love, Steven by Steve Madden, Superga, Betsey Johnson, Betseyville, Steve Madden Kids, Stevies, Brian Atwood, Blondo, Kate Spade, and Anne Klein brands, as well as private label footwear.

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Analyst Recommendations for Steven Madden (NASDAQ:SHOO)

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