SHOO has been the subject of a number of other research reports. BidaskClub raised Steven Madden from a hold rating to a buy rating in a report on Wednesday, July 5th. Zacks Investment Research raised Steven Madden from a hold rating to a buy rating and set a $44.00 price target for the company in a report on Tuesday, June 27th. Piper Jaffray Companies set a $41.00 price target on Steven Madden and gave the stock a buy rating in a report on Wednesday, May 31st. Citigroup Inc. upped their price target on Steven Madden from $44.00 to $45.00 and gave the stock a buy rating in a report on Tuesday, April 25th. Finally, Morgan Stanley upped their price target on Steven Madden from $37.00 to $38.00 and gave the stock an equal weight rating in a report on Tuesday, June 6th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $43.32.
Steven Madden (NASDAQ:SHOO) traded up 1.30% on Wednesday, hitting $43.00. The stock had a trading volume of 495,723 shares. The company has a market cap of $2.54 billion, a price-to-earnings ratio of 20.70 and a beta of 0.53. Steven Madden has a 52-week low of $32.30 and a 52-week high of $43.15. The company has a 50 day moving average price of $40.21 and a 200-day moving average price of $38.12.
Steven Madden (NASDAQ:SHOO) last released its quarterly earnings results on Tuesday, August 1st. The textile maker reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.06. The company had revenue of $374.15 million during the quarter, compared to analysts’ expectations of $355.22 million. Steven Madden had a return on equity of 17.57% and a net margin of 8.19%. Steven Madden’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.42 EPS. On average, equities research analysts predict that Steven Madden will post $2.25 earnings per share for the current year.
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In other Steven Madden news, insider Karla Frieders sold 5,000 shares of the stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $38.61, for a total transaction of $193,050.00. Following the completion of the transaction, the insider now owns 83,216 shares of the company’s stock, valued at $3,212,969.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Rose Peabody Lynch sold 2,240 shares of the stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $39.32, for a total value of $88,076.80. Following the transaction, the director now directly owns 4,754 shares of the company’s stock, valued at approximately $186,927.28. The disclosure for this sale can be found here. Insiders have sold 122,740 shares of company stock valued at $4,832,677 in the last three months. Insiders own 2.20% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Nicholas Investment Partners LP purchased a new position in shares of Steven Madden during the first quarter worth approximately $1,958,000. Rothschild Asset Management Inc. boosted its position in shares of Steven Madden by 0.5% in the first quarter. Rothschild Asset Management Inc. now owns 485,208 shares of the textile maker’s stock worth $18,705,000 after buying an additional 2,500 shares during the last quarter. Parametrica Management Ltd purchased a new position in shares of Steven Madden during the first quarter worth approximately $250,000. Bank of New York Mellon Corp boosted its position in shares of Steven Madden by 6.5% in the first quarter. Bank of New York Mellon Corp now owns 753,863 shares of the textile maker’s stock worth $29,061,000 after buying an additional 45,928 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Steven Madden by 9.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,656,633 shares of the textile maker’s stock worth $63,863,000 after buying an additional 139,594 shares during the last quarter. 91.16% of the stock is owned by institutional investors and hedge funds.
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.
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