Steven Madden (NASDAQ:SHOO – Free Report) had its target price lowered by Citigroup from $35.00 to $23.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the textile maker’s stock.
SHOO has been the topic of several other reports. StockNews.com lowered Steven Madden from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Loop Capital dropped their price objective on shares of Steven Madden from $40.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday, February 27th. UBS Group reduced their target price on Steven Madden from $24.00 to $22.00 and set a “neutral” rating for the company in a research note on Wednesday, April 23rd. Needham & Company LLC reiterated a “hold” rating on shares of Steven Madden in a research note on Thursday, February 27th. Finally, Jefferies Financial Group reissued a “hold” rating on shares of Steven Madden in a report on Monday, February 3rd. Nine equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $31.86.
Check Out Our Latest Report on SHOO
Steven Madden Stock Performance
Steven Madden (NASDAQ:SHOO – Get Free Report) last issued its earnings results on Wednesday, February 26th. The textile maker reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The business had revenue of $582.32 million for the quarter, compared to the consensus estimate of $550.37 million. As a group, research analysts forecast that Steven Madden will post 2.66 earnings per share for the current year.
Steven Madden Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.98%. The ex-dividend date was Monday, March 10th. Steven Madden’s dividend payout ratio (DPR) is 35.74%.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of SHOO. Pacer Advisors Inc. purchased a new position in shares of Steven Madden during the 4th quarter valued at approximately $72,795,000. First Trust Advisors LP increased its holdings in Steven Madden by 36.9% in the fourth quarter. First Trust Advisors LP now owns 2,002,228 shares of the textile maker’s stock valued at $85,135,000 after buying an additional 539,738 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Steven Madden by 46.5% in the first quarter. Victory Capital Management Inc. now owns 1,212,373 shares of the textile maker’s stock worth $32,298,000 after acquiring an additional 384,979 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Steven Madden by 29.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,455,381 shares of the textile maker’s stock worth $39,907,000 after acquiring an additional 332,689 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Steven Madden during the 4th quarter valued at about $13,652,000. 99.88% of the stock is owned by institutional investors and hedge funds.
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.
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