Telsey Advisory Group Reiterates Market Perform Rating for Steven Madden (NASDAQ:SHOO)

Telsey Advisory Group reissued their market perform rating on shares of Steven Madden (NASDAQ:SHOO) in a research report report published on Wednesday morning, MarketBeat Ratings reports. They currently have a $44.00 target price on the textile maker’s stock.

Several other brokerages also recently weighed in on SHOO. Wedbush reiterated a neutral rating and issued a $41.00 price target on shares of Steven Madden in a report on Friday, July 26th. BTIG Research increased their target price on Steven Madden from $50.00 to $53.00 and gave the stock a buy rating in a research note on Thursday, June 6th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $44.29.

Steven Madden Stock Down 4.4 %

NASDAQ SHOO opened at $41.61 on Wednesday. Steven Madden has a 52 week low of $30.35 and a 52 week high of $47.24. The firm has a market capitalization of $3.05 billion, a price-to-earnings ratio of 17.19 and a beta of 1.09. The company has a fifty day moving average of $43.58 and a two-hundred day moving average of $42.30.

Steven Madden (NASDAQ:SHOO) last released its earnings results on Wednesday, July 31st. The textile maker reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.06. The firm had revenue of $523.60 million during the quarter, compared to analyst estimates of $515.15 million. Steven Madden had a net margin of 8.36% and a return on equity of 23.49%. The business’s revenue was up 17.6% on a year-over-year basis. During the same quarter last year, the business earned $0.47 EPS. Equities research analysts anticipate that Steven Madden will post 2.62 EPS for the current year.

Steven Madden Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Friday, September 13th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date is Friday, September 13th. Steven Madden’s dividend payout ratio (DPR) is presently 34.71%.

Insiders Place Their Bets

In other news, Director Peter Migliorini sold 3,000 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $43.81, for a total value of $131,430.00. Following the completion of the sale, the director now owns 16,006 shares in the company, valued at approximately $701,222.86. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Steven Madden news, insider Karla Frieders sold 10,000 shares of Steven Madden stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $44.91, for a total value of $449,100.00. Following the transaction, the insider now owns 86,658 shares in the company, valued at $3,891,810.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter Migliorini sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $43.81, for a total transaction of $131,430.00. Following the completion of the sale, the director now owns 16,006 shares in the company, valued at $701,222.86. The disclosure for this sale can be found here. Insiders have sold a total of 14,600 shares of company stock worth $651,586 in the last three months. Corporate insiders own 2.08% of the company’s stock.

Institutional Investors Weigh In On Steven Madden

Institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC purchased a new stake in shares of Steven Madden during the 4th quarter valued at $32,000. Blue Trust Inc. increased its position in Steven Madden by 9,166.7% during the 2nd quarter. Blue Trust Inc. now owns 834 shares of the textile maker’s stock valued at $35,000 after buying an additional 825 shares in the last quarter. Fidelis Capital Partners LLC purchased a new stake in Steven Madden in the first quarter valued at about $47,000. International Assets Investment Management LLC boosted its holdings in Steven Madden by 4,100.0% in the fourth quarter. International Assets Investment Management LLC now owns 1,638 shares of the textile maker’s stock worth $69,000 after acquiring an additional 1,599 shares in the last quarter. Finally, EntryPoint Capital LLC purchased a new stake in shares of Steven Madden during the first quarter worth about $81,000. 99.88% of the stock is currently owned by institutional investors and hedge funds.

Steven Madden Company Profile

Steven Madden, Ltd. designs, sources, and markets fashion-forward branded and private label footwear, accessories, and apparel in the United States and internationally. It operates through Wholesale Footwear, Wholesale Accessories/Apparel, Direct-to- Consumer, and Licensing segments. The Wholesale Footwear segment designs, sources, and markets various products, including dress shoes, boots, booties, fashion sneakers, sandals, and casual shoes under the Steve Madden, Dolce Vita, Betsey Johnson, Blondo, GREATS, and Anne Klein brands.