Steven Madden (NASDAQ:SHOO) Price Target Lowered to $35.00 at Loop Capital

Steven Madden (NASDAQ:SHOO) had its target price trimmed by Loop Capital from $40.00 to $35.00 in a research note issued to investors on Thursday morning,Benzinga reports. The brokerage currently has a hold rating on the textile maker’s stock.

Several other equities research analysts have also recently weighed in on SHOO. Telsey Advisory Group reduced their price objective on Steven Madden from $44.00 to $38.00 and set a “market perform” rating for the company in a research report on Thursday. Piper Sandler reduced their price objective on Steven Madden from $45.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. Citigroup reduced their price objective on Steven Madden from $38.00 to $35.00 and set a “neutral” rating for the company in a research report on Thursday. Jefferies Financial Group reissued a “hold” rating on shares of Steven Madden in a research report on Monday, February 3rd. Finally, StockNews.com cut Steven Madden from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Eight research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Steven Madden has an average rating of “Hold” and a consensus price target of $40.33.

Steven Madden Stock Down 4.6 %

Shares of Steven Madden stock opened at $33.22 on Thursday. The stock has a market capitalization of $2.40 billion, a P/E ratio of 14.14 and a beta of 1.07. The stock has a 50 day moving average price of $40.27 and a two-hundred day moving average price of $43.56. Steven Madden has a 12-month low of $32.81 and a 12-month high of $50.01.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings data on Wednesday, February 26th. The textile maker reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.02. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. The company had revenue of $582.32 million during the quarter, compared to analysts’ expectations of $550.37 million. Sell-side analysts anticipate that Steven Madden will post 2.66 earnings per share for the current year.

Steven Madden Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 10th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.84 annualized dividend and a yield of 2.53%. Steven Madden’s dividend payout ratio is currently 35.74%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. FMR LLC raised its stake in Steven Madden by 8,180.4% during the third quarter. FMR LLC now owns 535,081 shares of the textile maker’s stock worth $26,214,000 after acquiring an additional 528,619 shares in the last quarter. Geode Capital Management LLC raised its stake in Steven Madden by 3.0% during the third quarter. Geode Capital Management LLC now owns 1,710,492 shares of the textile maker’s stock worth $83,812,000 after acquiring an additional 49,075 shares in the last quarter. Landscape Capital Management L.L.C. acquired a new position in Steven Madden during the third quarter worth $2,614,000. Principal Financial Group Inc. increased its stake in shares of Steven Madden by 3.1% in the fourth quarter. Principal Financial Group Inc. now owns 381,196 shares of the textile maker’s stock valued at $16,208,000 after buying an additional 11,602 shares in the last quarter. Finally, Systematic Financial Management LP increased its stake in shares of Steven Madden by 15.9% in the third quarter. Systematic Financial Management LP now owns 439,126 shares of the textile maker’s stock valued at $21,513,000 after buying an additional 60,276 shares in the last quarter. 99.88% of the stock is currently owned by institutional investors and hedge funds.

About Steven Madden

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.