Steven Madden (NASDAQ:SHOO) Rating Reiterated by Wedbush

Wedbush reiterated their neutral rating on shares of Steven Madden (NASDAQ:SHOO) in a research report sent to investors on Friday, Benzinga reports. They currently have a $41.00 price target on the textile maker’s stock.

A number of other research analysts also recently issued reports on the stock. 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 research report on Thursday, June 6th. Telsey Advisory Group restated a market perform rating and set a $44.00 price target on shares of Steven Madden in a research note on Thursday. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $43.38.

Steven Madden Stock Up 3.2 %

Steven Madden stock opened at $44.02 on Friday. Steven Madden has a 12-month low of $30.35 and a 12-month high of $45.91. The firm’s fifty day moving average is $43.39 and its 200 day moving average is $42.23. The company has a market capitalization of $3.23 billion, a PE ratio of 18.19 and a beta of 1.09.

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

Steven Madden Dividend Announcement

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

Insider Transactions at Steven Madden

In other news, Director Peter Migliorini sold 3,000 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $43.81, for a total value of $131,430.00. Following the completion of the sale, the director now owns 16,006 shares in the company, valued at approximately $701,222.86. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Karla Frieders sold 10,000 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $44.91, for a total value of $449,100.00. Following the completion of the sale, the insider now owns 86,658 shares in the company, valued at approximately $3,891,810.78. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Peter Migliorini sold 3,000 shares of the company’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $43.81, for a total transaction of $131,430.00. Following the completion of the sale, the director now owns 16,006 shares of the company’s stock, valued at approximately $701,222.86. The disclosure for this sale can be found here. Insiders sold a total of 14,600 shares of company stock worth $651,586 in the last quarter. 2.08% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Steven Madden

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Steven Madden by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 8,329,605 shares of the textile maker’s stock worth $264,632,000 after buying an additional 80,199 shares during the last quarter. Capital Research Global Investors boosted its holdings in shares of Steven Madden by 8.6% in the 1st quarter. Capital Research Global Investors now owns 1,856,001 shares of the textile maker’s stock worth $78,472,000 after buying an additional 146,324 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Steven Madden by 10.3% in the 4th quarter. Victory Capital Management Inc. now owns 1,455,980 shares of the textile maker’s stock worth $61,151,000 after buying an additional 136,171 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Steven Madden by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,024,238 shares of the textile maker’s stock worth $43,018,000 after buying an additional 26,177 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Steven Madden by 0.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 873,682 shares of the textile maker’s stock worth $36,957,000 after buying an additional 5,451 shares during the last quarter. 99.88% of the stock is owned by hedge funds and other institutional investors.

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.