Steven Madden (SHOO) Upgraded to “Hold” at BidaskClub

BidaskClub upgraded shares of Steven Madden (NASDAQ:SHOO) from a sell rating to a hold rating in a research report report published on Thursday, March 8th.

Other analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Steven Madden from a hold rating to a buy rating and set a $52.00 target price for the company in a research report on Wednesday, January 10th. Canaccord Genuity reaffirmed a buy rating and issued a $50.00 price objective on shares of Steven Madden in a research note on Tuesday, February 13th. Citigroup reaffirmed a buy rating and issued a $56.00 price objective on shares of Steven Madden in a research note on Tuesday, January 16th. 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. Finally, Susquehanna Bancshares restated a buy rating and set a $50.00 price objective on shares of Steven Madden in a report on Monday, December 4th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Steven Madden has an average rating of Buy and a consensus target price of $49.29.

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Shares of NASDAQ:SHOO traded down $0.80 during midday trading on Thursday, reaching $43.10. 321,460 shares of the company’s stock traded hands, compared to its average volume of 479,533. Steven Madden has a one year low of $35.55 and a one year high of $49.28. The company has a market cap of $2,580.53, a P/E ratio of 19.24, a PEG ratio of 1.41 and a beta of 0.47.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings results on Tuesday, February 27th. The textile maker reported $0.48 EPS for the quarter, hitting analysts’ consensus estimates of $0.48. Steven Madden had a return on equity of 16.68% and a net margin of 7.63%. The business had revenue of $364.40 million during the quarter, compared to analysts’ expectations of $360.27 million. During the same quarter in the prior year, the business posted $0.49 earnings per share. The business’s quarterly revenue was up 8.3% on a year-over-year basis. sell-side analysts expect that Steven Madden will post 2.67 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 29th. Investors of record on Monday, March 12th were issued a $0.20 dividend. The ex-dividend date was Friday, March 9th. This represents a $0.80 dividend on an annualized basis and a yield of 1.86%. Steven Madden’s payout ratio is 35.71%.

In other Steven Madden news, CEO Edward R. Rosenfeld sold 33,000 shares of the business’s stock in a transaction that occurred on Friday, March 16th. The stock was sold at an average price of $45.82, for a total transaction of $1,512,060.00. Following the completion of the sale, the chief executive officer now directly owns 515,200 shares in the company, valued at approximately $23,606,464. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 2.06% of the company’s stock.

Several hedge funds have recently bought and sold shares of SHOO. Public Employees Retirement System of Ohio grew its position in shares of Steven Madden by 9.1% in the second quarter. Public Employees Retirement System of Ohio now owns 4,990 shares of the textile maker’s stock valued at $199,000 after purchasing an additional 415 shares in the last quarter. Worth Venture Partners LLC purchased a new position in Steven Madden in the third quarter worth approximately $205,000. Wolverine Trading LLC grew its position in Steven Madden by 311.2% in the fourth quarter. Wolverine Trading LLC now owns 4,523 shares of the textile maker’s stock worth $211,000 after acquiring an additional 3,423 shares during the period. Sawgrass Asset Management LLC purchased a new position in Steven Madden in the third quarter worth approximately $238,000. Finally, Boothbay Fund Management LLC purchased a new position in Steven Madden in the third quarter worth approximately $242,000. Institutional investors and hedge funds own 95.51% of the company’s stock.

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Steven Madden Company Profile

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.

Analyst Recommendations for Steven Madden (NASDAQ:SHOO)

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