Steven Madden (NASDAQ:SHOO) Price Target Lowered to $40.00 at Piper Sandler

Steven Madden (NASDAQ:SHOO) had its price objective lowered by Piper Sandler from $45.00 to $40.00 in a report published on Tuesday,Benzinga reports. The firm currently has a neutral rating on the textile maker’s stock.

SHOO has been the subject of a number of other research reports. Citigroup raised their price target on shares of Steven Madden from $43.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Needham & Company LLC reissued a “hold” rating on shares of Steven Madden in a research note on Thursday, December 5th. Telsey Advisory Group cut their price target on Steven Madden from $50.00 to $44.00 and set a “market perform” rating on the stock in a research note on Tuesday. Finally, StockNews.com lowered Steven Madden from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $43.33.

Steven Madden Stock Performance

Shares of SHOO opened at $37.29 on Tuesday. The company has a market cap of $2.69 billion, a price-to-earnings ratio of 15.87 and a beta of 1.07. The stock has a fifty day moving average price of $42.44 and a two-hundred day moving average price of $44.21. Steven Madden has a 52-week low of $36.90 and a 52-week high of $50.01.

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

Steven Madden Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 2.25%. Steven Madden’s dividend payout ratio (DPR) is presently 35.74%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company boosted its position in shares of Steven Madden by 1.2% during the second quarter. The Manufacturers Life Insurance Company now owns 40,141 shares of the textile maker’s stock worth $1,698,000 after purchasing an additional 484 shares in the last quarter. Algert Global LLC bought a new position in Steven Madden during the second quarter worth about $299,000. Creative Planning grew its stake in Steven Madden by 78.7% in the second quarter. Creative Planning now owns 10,791 shares of the textile maker’s stock valued at $456,000 after acquiring an additional 4,752 shares during the period. GAMMA Investing LLC grew its stake in Steven Madden by 80.6% in the third quarter. GAMMA Investing LLC now owns 1,329 shares of the textile maker’s stock valued at $65,000 after acquiring an additional 593 shares during the period. Finally, Exchange Traded Concepts LLC bought a new stake in shares of Steven Madden in the third quarter worth about $59,000. Institutional investors and hedge funds own 99.88% of the company’s stock.

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.