Steven Madden’s (SHOO) Market Perform Rating Reiterated at Telsey Advisory Group

Telsey Advisory Group reissued their market perform rating on shares of Steven Madden (NASDAQ:SHOO) in a research note published on Wednesday, MarketBeat Ratings reports. They currently have a $44.00 price target on the textile maker’s stock.

Several other equities research analysts have also commented on the stock. BTIG Research lifted their price target on shares of Steven Madden from $50.00 to $53.00 and gave the stock a buy rating in a research note on Thursday, June 6th. Wedbush reiterated a neutral rating and set a $41.00 price target on shares of Steven Madden in a research note on Friday, July 26th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $43.38.

Steven Madden Trading Down 4.4 %

SHOO opened at $41.61 on Wednesday. The firm has a market capitalization of $3.05 billion, a PE ratio of 17.19 and a beta of 1.09. Steven Madden has a twelve month low of $30.35 and a twelve month high of $47.24. The firm’s 50-day moving average price is $43.58 and its 200 day moving average price is $42.30.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings data on Wednesday, July 31st. The textile maker reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.06. Steven Madden had a net margin of 8.36% and a return on equity of 23.49%. The business had revenue of $523.60 million for the quarter, compared to analyst estimates of $515.15 million. During the same period last year, the business earned $0.47 EPS. The company’s revenue was up 17.6% on a year-over-year basis. As a group, analysts predict that Steven Madden will post 2.62 earnings per share for the current fiscal year.

Steven Madden Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Friday, September 13th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Friday, September 13th. Steven Madden’s dividend payout ratio is presently 34.71%.

Insider Activity

In related news, insider Karla Frieders sold 10,000 shares of the business’s stock in a transaction that occurred 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 directly owns 86,658 shares in the company, valued at $3,891,810.78. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Steven Madden news, Director Peter Migliorini sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The shares were 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 directly owns 16,006 shares in the company, valued at $701,222.86. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 transaction of $449,100.00. Following the sale, the insider now owns 86,658 shares of the company’s stock, valued at $3,891,810.78. The disclosure for this sale can be found here. Insiders sold a total of 14,600 shares of company stock valued at $651,586 over the last 90 days. Insiders own 2.08% of the company’s stock.

Institutional Investors Weigh In On Steven Madden

Institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC purchased a new stake in Steven Madden during the fourth quarter worth approximately $32,000. Blue Trust Inc. grew its stake 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 buying an additional 825 shares during the period. Fidelis Capital Partners LLC purchased a new stake in Steven Madden during the first quarter worth approximately $47,000. International Assets Investment Management LLC grew its stake in Steven Madden by 4,100.0% during the fourth quarter. International Assets Investment Management LLC now owns 1,638 shares of the textile maker’s stock worth $69,000 after buying an additional 1,599 shares during the period. Finally, EntryPoint Capital LLC purchased a new stake in Steven Madden during the first quarter worth approximately $81,000. 99.88% of the stock is currently owned by hedge funds and other institutional investors.

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.