Steven Madden (NASDAQ:SHOO) received a $46.00 price objective from Wells Fargo & Co in a research note issued on Thursday. The brokerage presently has a “hold” rating on the textile maker’s stock. Wells Fargo & Co’s target price would indicate a potential downside of 3.36% from the company’s previous close.
Several other research analysts have also commented on SHOO. Piper Jaffray Companies set a $51.00 price target on Steven Madden and gave the stock a “buy” rating in a research report on Monday. Zacks Investment Research upgraded Steven Madden from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research report on Wednesday. B. Riley restated a “buy” rating and set a $52.00 target price (up previously from $47.00) on shares of Steven Madden in a research report on Tuesday. Canaccord Genuity set a $50.00 target price on Steven Madden and gave the company a “buy” rating in a research report on Sunday. Finally, Telsey Advisory Group restated an “outperform” rating and set a $51.00 target price (up previously from $44.00) on shares of Steven Madden in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $48.21.
Steven Madden (NASDAQ SHOO) traded up $0.40 on Thursday, reaching $47.60. The company had a trading volume of 317,200 shares, compared to its average volume of 496,500. The stock has a market capitalization of $2,800.00, a price-to-earnings ratio of 22.67, a P/E/G ratio of 1.81 and a beta of 0.51. Steven Madden has a 12 month low of $33.50 and a 12 month high of $47.75.
In other news, Director Richard P. Randall sold 2,000 shares of Steven Madden stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $38.05, for a total transaction of $76,100.00. Following the completion of the sale, the director now owns 22,809 shares of the company’s stock, valued at $867,882.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Amelia Varela sold 25,000 shares of Steven Madden stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $42.78, for a total transaction of $1,069,500.00. Following the sale, the president now directly owns 113,007 shares of the company’s stock, valued at approximately $4,834,439.46. The disclosure for this sale can be found here. Insiders have sold 34,000 shares of company stock valued at $1,460,100 in the last 90 days. Company insiders own 2.06% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its position in Steven Madden by 148,882.3% in the 1st quarter. BlackRock Inc. now owns 6,921,716 shares of the textile maker’s stock valued at $266,833,000 after buying an additional 6,917,070 shares during the period. Eagle Asset Management increased its position in Steven Madden by 70.8% during the third quarter. Eagle Asset Management now owns 4,498,772 shares of the textile maker’s stock worth $164,744,000 after purchasing an additional 1,864,756 shares during the last quarter. William Blair Investment Management LLC increased its position in Steven Madden by 663.6% during the fourth quarter. William Blair Investment Management LLC now owns 985,637 shares of the textile maker’s stock worth $29,786,000 after purchasing an additional 856,560 shares during the last quarter. Norges Bank acquired a new position in Steven Madden during the fourth quarter worth approximately $26,293,000. Finally, Mesirow Financial Investment Management Equity Management acquired a new position in Steven Madden during the second quarter worth approximately $21,335,000. 92.98% of the stock is owned by hedge funds and other institutional investors.
About Steven Madden
Steven Madden, Ltd. and its subsidiaries design, source, market and sell name brand and private label footwear for women, men and children, and name brand and private label fashion handbags and accessories. The Company operates through five segments: Wholesale Footwear, Wholesale Accessories, Retail, First Cost and Licensing.
