Steven Madden (NASDAQ:SHOO) Given Market Perform Rating at Telsey Advisory Group

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

Several other research firms have also issued reports on SHOO. BTIG Research boosted their target price on shares of Steven Madden from $50.00 to $53.00 and gave the company a buy rating in a report on Thursday, June 6th. Wedbush reissued a neutral rating and issued a $41.00 price objective on shares of Steven Madden in a research note on Friday, May 17th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Steven Madden currently has an average rating of Hold and a consensus target price of $43.38.

Steven Madden Price Performance

Shares of SHOO opened at $44.02 on Thursday. The business has a 50-day moving average of $43.39 and a 200-day moving average of $42.24. The company has a market capitalization of $3.23 billion, a price-to-earnings ratio of 18.19 and a beta of 1.09. Steven Madden has a 1 year low of $30.35 and a 1 year high of $45.91.

Steven Madden (NASDAQ:SHOO) last released its earnings results on Wednesday, May 1st. The textile maker reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.09. The business had revenue of $552.38 million during the quarter, compared to the consensus estimate of $525.04 million. Steven Madden had a net margin of 8.65% and a return on equity of 22.68%. The company’s revenue for the quarter was up 19.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.50 EPS. As a group, sell-side analysts anticipate that Steven Madden will post 2.62 EPS for the current year.

Steven Madden Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Monday, June 10th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend was Monday, June 10th. Steven Madden’s payout ratio is 34.71%.

Insiders Place Their Bets

In other news, insider Karla Frieders sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $44.91, for a total transaction of $449,100.00. Following the completion of the sale, the insider now owns 86,658 shares in the company, valued at $3,891,810.78. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Rose Peabody Lynch sold 1,600 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $44.41, for a total value of $71,056.00. Following the transaction, the director now owns 21,303 shares of the company’s stock, valued at approximately $946,066.23. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Karla Frieders sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $44.91, for a total value of $449,100.00. Following the sale, the insider now directly owns 86,658 shares of the company’s stock, valued at $3,891,810.78. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,600 shares of company stock worth $651,586. Corporate insiders own 2.08% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Legato Capital Management LLC purchased a new stake in Steven Madden in the 2nd quarter valued at $619,000. Bank of New York Mellon Corp raised its holdings in shares of Steven Madden by 0.6% in the second quarter. Bank of New York Mellon Corp now owns 873,682 shares of the textile maker’s stock valued at $36,957,000 after purchasing an additional 5,451 shares during the last quarter. Leeward Investments LLC MA lifted its position in shares of Steven Madden by 5.6% during the second quarter. Leeward Investments LLC MA now owns 312,740 shares of the textile maker’s stock valued at $13,229,000 after purchasing an additional 16,529 shares in the last quarter. Blue Trust Inc. boosted its holdings in Steven Madden by 9,166.7% during the second quarter. Blue Trust Inc. now owns 834 shares of the textile maker’s stock worth $35,000 after purchasing an additional 825 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in Steven Madden in the 2nd quarter worth about $1,269,000. Institutional investors 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.