Steven Madden (NASDAQ:SHOO) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Steven Madden (NASDAQ:SHOO) from a buy rating to a strong-buy rating in a research note issued to investors on Saturday morning.

A number of other equities research analysts have also issued reports on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Steven Madden in a research report on Friday, July 17th. BTIG Research reaffirmed a “buy” rating and set a $50.00 target price on shares of Steven Madden in a report on Monday, July 27th. Needham & Company LLC increased their price target on Steven Madden from $45.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, June 12th. Citigroup reissued a “buy” rating and issued a $55.00 price target (up from $45.00) on shares of Steven Madden in a research note on Friday, July 31st. Finally, Williams Trading set a $56.00 price objective on Steven Madden in a report on Monday, August 3rd. Five research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $49.75.

Steven Madden Trading Up 0.6%

Steven Madden stock opened at $48.88 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.13 and a current ratio of 1.91. The firm has a market cap of $3.58 billion, a price-to-earnings ratio of 24.56 and a beta of 1.14. Steven Madden has a 1 year low of $24.50 and a 1 year high of $49.70. The firm’s 50 day moving average price is $43.79 and its two-hundred day moving average price is $40.05.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings results on Thursday, July 30th. The textile maker reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.11. Steven Madden had a return on equity of 13.85% and a net margin of 5.23%.The company had revenue of $665.87 million for the quarter, compared to analysts’ expectations of $635.39 million. During the same quarter in the prior year, the company earned $0.20 earnings per share. The firm’s revenue was up 19.1% on a year-over-year basis. Steven Madden has set its FY 2026 guidance at 2.050-2.150 EPS. On average, research analysts predict that Steven Madden will post 2.14 EPS for the current fiscal year.

Steven Madden Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Friday, September 11th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, September 11th. Steven Madden’s payout ratio is 42.21%.

Insider Activity

In other Steven Madden news, Director Arian Simone Reed sold 1,250 shares of Steven Madden stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $48.76, for a total transaction of $60,950.00. Following the completion of the sale, the director owned 8,196 shares of the company’s stock, valued at $399,636.96. This trade represents a 13.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Al Ferrara sold 3,918 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $48.26, for a total transaction of $189,082.68. Following the transaction, the director owned 26,197 shares in the company, valued at approximately $1,264,267.22. This represents a 13.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 15,356 shares of company stock valued at $717,204 in the last 90 days. Company insiders own 2.21% of the company’s stock.

Institutional Trading of Steven Madden

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp purchased a new position in Steven Madden in the second quarter valued at about $25,618,000. Handelsbanken Fonder AB raised its stake in shares of Steven Madden by 14.5% during the 2nd quarter. Handelsbanken Fonder AB now owns 25,203 shares of the textile maker’s stock worth $1,061,000 after purchasing an additional 3,200 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Steven Madden by 2.6% during the 2nd quarter. GAMMA Investing LLC now owns 9,984 shares of the textile maker’s stock worth $420,000 after purchasing an additional 257 shares in the last quarter. CX Institutional lifted its holdings in shares of Steven Madden by 2.0% during the 2nd quarter. CX Institutional now owns 67,571 shares of the textile maker’s stock valued at $2,845,000 after buying an additional 1,334 shares during the last quarter. Finally, Empowered Funds LLC acquired a new stake in shares of Steven Madden during the 1st quarter valued at about $275,000. 99.88% of the stock is currently owned by hedge funds and other institutional investors.

About Steven Madden

Steven Madden, Inc (NASDAQ: SHOO) is a New York–based designer and marketer of fashion footwear, handbags and accessories. The company’s product portfolio spans a range of contemporary and lifestyle brands for women, men and children, including its core Steve Madden label as well as the Madden Girl and Dolce Vita brands. In addition to footwear, the company licenses its trademarks for use on apparel, eyewear and other fashion accessories.

Steven Madden distributes its products through multiple channels, including wholesale partners, e-commerce platforms and its own brick-and-mortar retail stores.