Piper Jaffray Companies set a $51.00 target price on Steven Madden (NASDAQ:SHOO) in a research report sent to investors on Monday, January 8th. The brokerage currently has a buy rating on the textile maker’s stock.
Several other brokerages have also recently weighed in on SHOO. Susquehanna Bancshares reaffirmed a buy rating and set a $48.00 target price on shares of Steven Madden in a research note on Monday, October 23rd. Zacks Investment Research cut Steven Madden from a buy rating to a hold rating in a research note on Wednesday, September 20th. ValuEngine cut Steven Madden from a buy rating to a hold rating in a research note on Thursday, October 5th. Buckingham Research decreased their target price on Steven Madden from $40.00 to $39.00 and set a neutral rating for the company in a research note on Wednesday, November 1st. Finally, Canaccord Genuity set a $47.00 price target on Steven Madden and gave the company a buy rating in a research report on Tuesday, October 24th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Steven Madden presently has a consensus rating of Buy and an average price target of $49.13.
Steven Madden (NASDAQ:SHOO) traded down $0.55 during trading hours on Monday, hitting $47.65. The stock had a trading volume of 339,400 shares, compared to its average volume of 455,600. Steven Madden has a 12 month low of $33.50 and a 12 month high of $48.80. The company has a market capitalization of $2,848.78, a PE ratio of 22.58, a price-to-earnings-growth ratio of 1.75 and a beta of 0.51.
In other news, President Amelia Varela sold 25,000 shares of the firm’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $42.78, for a total transaction of $1,069,500.00. Following the completion of the sale, the president now directly owns 113,007 shares of the company’s stock, valued at approximately $4,834,439.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard P. Randall sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $38.05, for a total value of $76,100.00. Following the sale, the director now directly owns 22,809 shares of the company’s stock, valued at $867,882.45. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,000 shares of company stock valued at $1,460,100. Company insiders own 2.06% of the company’s stock.
Several hedge funds have recently modified their holdings of the stock. Macquarie Group Ltd. raised its stake in shares of Steven Madden by 8.6% in the 3rd quarter. Macquarie Group Ltd. now owns 2,443,422 shares of the textile maker’s stock valued at $105,800,000 after acquiring an additional 193,391 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Steven Madden by 2.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,691,671 shares of the textile maker’s stock valued at $73,248,000 after acquiring an additional 37,264 shares in the last quarter. Eagle Asset Management Inc. raised its stake in shares of Steven Madden by 0.5% in the 3rd quarter. Eagle Asset Management Inc. now owns 1,641,855 shares of the textile maker’s stock valued at $70,681,000 after acquiring an additional 8,679 shares in the last quarter. State Street Corp raised its stake in shares of Steven Madden by 5.2% in the 2nd quarter. State Street Corp now owns 1,505,434 shares of the textile maker’s stock valued at $60,144,000 after acquiring an additional 75,022 shares in the last quarter. Finally, Royal Bank of Canada raised its stake in shares of Steven Madden by 2.0% in the 2nd quarter. Royal Bank of Canada now owns 1,177,884 shares of the textile maker’s stock valued at $47,056,000 after acquiring an additional 23,334 shares in the last quarter. 92.98% of the stock is currently owned by institutional investors and hedge funds.
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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.
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