BidaskClub upgraded shares of Steven Madden (NASDAQ:SHOO) from a sell rating to a hold rating in a report published on Thursday, March 8th.
A number of other research analysts have also recently issued reports on the company. Zacks Investment Research upgraded Steven Madden from a sell rating to a hold rating in a research report on Friday, December 22nd. Wedbush reissued a buy rating and set a $53.00 price target on shares of Steven Madden in a research note on Tuesday, December 19th. B. Riley reissued a buy rating and set a $52.00 price target (up from $47.00) on shares of Steven Madden in a research note on Tuesday, January 9th. Canaccord Genuity reissued a buy rating and set a $50.00 price target on shares of Steven Madden in a research note on Tuesday, February 13th. Finally, Susquehanna Bancshares reissued a buy rating and set a $50.00 price target on shares of Steven Madden in a research note on Monday, December 4th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $49.29.
Shares of Steven Madden (SHOO) traded up $1.20 during midday trading on Thursday, hitting $46.45. The company had a trading volume of 953,108 shares, compared to its average volume of 486,322. Steven Madden has a 52 week low of $35.55 and a 52 week high of $49.28. The company has a market capitalization of $2,730.42, a PE ratio of 22.66, a P/E/G ratio of 1.49 and a beta of 0.45.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Monday, March 12th will be issued a $0.20 dividend. The ex-dividend date is Friday, March 9th. This represents a $0.80 dividend on an annualized basis and a yield of 1.72%. Steven Madden’s payout ratio is currently 39.02%.
In other Steven Madden news, COO Awadhesh K. Sinha sold 6,500 shares of Steven Madden stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $45.03, for a total value of $292,695.00. Following the completion of the sale, the chief operating officer now directly owns 63,383 shares in the company, valued at $2,854,136.49. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.06% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Xact Kapitalforvaltning AB bought a new stake in shares of Steven Madden during the fourth quarter valued at approximately $248,000. J. Goldman & Co LP bought a new stake in shares of Steven Madden during the fourth quarter valued at approximately $4,375,000. CS Mckee LP increased its holdings in shares of Steven Madden by 49.4% during the fourth quarter. CS Mckee LP now owns 33,275 shares of the textile maker’s stock valued at $1,554,000 after acquiring an additional 11,000 shares in the last quarter. MetLife Investment Advisors LLC bought a new stake in shares of Steven Madden during the fourth quarter valued at approximately $1,283,000. Finally, Municipal Employees Retirement System of Michigan increased its holdings in shares of Steven Madden by 13.4% during the fourth quarter. Municipal Employees Retirement System of Michigan now owns 22,780 shares of the textile maker’s stock valued at $1,064,000 after acquiring an additional 2,700 shares in the last quarter. Hedge funds and other institutional investors own 95.52% of the company’s stock.
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About Steven Madden
Steven Madden, Ltd. and its subsidiaries design, source, market and sell name brand and private label footwear for women, men and children, and name brand and private label fashion handbags and accessories. The Company operates through five segments: Wholesale Footwear, Wholesale Accessories, Retail, First Cost and Licensing.
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