Steven Madden (NASDAQ:SHOO) Given New $44.00 Price Target at Telsey Advisory Group

Steven Madden (NASDAQ:SHOO) had its price objective decreased by Telsey Advisory Group from $50.00 to $44.00 in a research note published on Tuesday,Benzinga reports. Telsey Advisory Group currently has a market perform rating on the textile maker’s stock.

A number of other equities analysts have also commented on SHOO. Citigroup lifted their price objective on Steven Madden from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. StockNews.com downgraded shares of Steven Madden from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Steven Madden in a research report on Thursday, December 5th. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $43.33.

Steven Madden Price Performance

SHOO opened at $37.29 on Tuesday. Steven Madden has a fifty-two week low of $36.90 and a fifty-two week high of $50.01. The company’s 50 day moving average price is $42.44 and its two-hundred day moving average price is $44.21. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of 15.87 and a beta of 1.07.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings data on Thursday, November 7th. The textile maker reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.02. The company had revenue of $624.68 million for the quarter, compared to analysts’ expectations of $607.89 million. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. Steven Madden’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.88 earnings per share. As a group, equities research analysts predict that Steven Madden will post 2.66 EPS for the current year.

Steven Madden Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were paid a $0.21 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.84 annualized dividend and a dividend yield of 2.25%. Steven Madden’s dividend payout ratio is currently 35.74%.

Institutional Investors Weigh In On Steven Madden

A number of large investors have recently bought and sold shares of SHOO. Gladius Capital Management LP acquired a new position in shares of Steven Madden during the third quarter valued at about $36,000. Exchange Traded Concepts LLC bought a new stake in Steven Madden in the 3rd quarter valued at about $59,000. R Squared Ltd acquired a new position in Steven Madden during the 4th quarter worth approximately $55,000. GAMMA Investing LLC boosted its holdings in Steven Madden by 80.6% in the third quarter. GAMMA Investing LLC now owns 1,329 shares of the textile maker’s stock worth $65,000 after acquiring an additional 593 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in Steven Madden by 94.1% in the third quarter. Blue Trust Inc. now owns 1,619 shares of the textile maker’s stock valued at $79,000 after acquiring an additional 785 shares during the period. 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.