Steven Madden (NASDAQ:SHOO) had its price target cut by Citigroup from $40.67 to $38.00 in a research note issued to investors on Friday. They currently have a buy rating on the textile maker’s stock.
Several other research analysts also recently issued reports on SHOO. Loop Capital set a $36.00 price target on shares of Steven Madden and gave the stock a hold rating in a research report on Wednesday, August 8th. Zacks Investment Research downgraded shares of Steven Madden from a buy rating to a hold rating in a research report on Wednesday, June 27th. Wedbush downgraded shares of Steven Madden from an outperform rating to a neutral rating and upped their price target for the stock from $34.00 to $36.67 in a research report on Wednesday, July 11th. They noted that the move was a valuation call. Canaccord Genuity set a $39.33 price target on shares of Steven Madden and gave the stock a buy rating in a research report on Monday, July 30th. Finally, Macquarie assumed coverage on shares of Steven Madden in a research report on Wednesday, June 27th. They set an outperform rating on the stock. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. Steven Madden has an average rating of Hold and an average target price of $36.00.
NASDAQ SHOO traded down $0.88 on Friday, hitting $28.10. 1,107,633 shares of the company were exchanged, compared to its average volume of 1,147,580. The company has a market cap of $2.54 billion, a price-to-earnings ratio of 18.86, a price-to-earnings-growth ratio of 1.52 and a beta of 0.53. Steven Madden has a 1-year low of $24.83 and a 1-year high of $39.30.
Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings results on Tuesday, July 31st. The textile maker reported $0.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.02. The business had revenue of $395.80 million for the quarter, compared to the consensus estimate of $390.57 million. Steven Madden had a net margin of 8.17% and a return on equity of 17.01%. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.34 EPS. On average, research analysts predict that Steven Madden will post 1.79 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 28th. Shareholders of record on Tuesday, September 18th were given a dividend of $0.1333 per share. The ex-dividend date was Monday, September 17th. This represents a $0.53 dividend on an annualized basis and a yield of 1.90%. Steven Madden’s payout ratio is presently 35.57%.
In other Steven Madden news, COO Awadhesh K. Sinha sold 4,000 shares of the company’s stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $57.50, for a total transaction of $230,000.00. Following the transaction, the chief operating officer now directly owns 57,845 shares in the company, valued at approximately $3,326,087.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Rose Peabody Lynch sold 2,500 shares of the company’s stock in a transaction dated Tuesday, September 18th. The shares were sold at an average price of $57.27, for a total transaction of $143,175.00. Following the transaction, the director now owns 7,103 shares in the company, valued at $406,788.81. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,500 shares of company stock worth $771,405. Corporate insiders own 1.77% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its position in Steven Madden by 6.5% during the 2nd quarter. BlackRock Inc. now owns 7,499,094 shares of the textile maker’s stock valued at $398,201,000 after purchasing an additional 459,305 shares during the period. Victory Capital Management Inc. increased its stake in shares of Steven Madden by 131.6% in the 2nd quarter. Victory Capital Management Inc. now owns 1,949,545 shares of the textile maker’s stock valued at $103,520,000 after acquiring an additional 1,107,668 shares during the last quarter. Eagle Asset Management Inc. increased its stake in shares of Steven Madden by 2.8% in the 2nd quarter. Eagle Asset Management Inc. now owns 1,834,111 shares of the textile maker’s stock valued at $97,391,000 after acquiring an additional 50,399 shares during the last quarter. Jennison Associates LLC increased its stake in shares of Steven Madden by 35.7% in the 2nd quarter. Jennison Associates LLC now owns 1,311,602 shares of the textile maker’s stock valued at $69,646,000 after acquiring an additional 345,001 shares during the last quarter. Finally, Carillon Tower Advisers Inc. increased its stake in shares of Steven Madden by 3.0% in the 2nd quarter. Carillon Tower Advisers Inc. now owns 1,271,044 shares of the textile maker’s stock valued at $67,492,000 after acquiring an additional 36,524 shares during the last quarter. Institutional investors own 95.88% of the company’s stock.
About Steven Madden
Steven Madden, Ltd. designs, sources, markets, and sells fashion-forward name brand and private label footwear for women, men, and children worldwide. Its Wholesale Footwear segment provides footwear under the Steve Madden Women's, Madden Girl, Steve Madden Men's, Madden, Madden NYC, Dolce Vita, DV by Dolce Vita, Mad Love, Steven by Steve Madden, Report, Superga, Betsey Johnson, Betseyville, Steve Madden Kids, FREEBIRD by Steven, Stevies, B Brian Atwood, Blondo, Kate Spade, and Avec Les Filles brands, as well as private label footwear.
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