Steven Madden (NASDAQ:SHOO) Shares Gap Up – Still a Buy?

Steven Madden, Ltd. (NASDAQ:SHOO) gapped up before the market opened on Monday . The stock had previously closed at $21.09, but opened at $21.88. Steven Madden shares last traded at $21.20, with a volume of 249,959 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts have weighed in on SHOO shares. StockNews.com downgraded shares of Steven Madden from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Citigroup cut their price target on shares of Steven Madden from $35.00 to $23.00 and set a “neutral” rating on the stock in a report on Thursday. Loop Capital dropped their price target on shares of Steven Madden from $40.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday, February 27th. Piper Sandler dropped their price target on shares of Steven Madden from $35.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Finally, Jefferies Financial Group restated a “hold” rating on shares of Steven Madden in a research report on Monday, February 3rd. Nine investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Steven Madden presently has a consensus rating of “Hold” and a consensus target price of $31.86.

Steven Madden Price Performance

The firm’s 50-day moving average is $24.60 and its 200-day moving average is $36.23. The company has a market capitalization of $1.53 billion, a P/E ratio of 8.98 and a beta of 0.98.

Steven Madden (NASDAQ:SHOO) last announced 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 return on equity of 23.41% and a net margin of 7.68%. The company had revenue of $582.32 million for the quarter, compared to analysts’ expectations of $550.37 million. As a group, analysts forecast that Steven Madden, Ltd. will post 2.66 EPS for the current fiscal year.

Steven Madden Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were given a $0.21 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.98%. Steven Madden’s payout ratio is currently 35.74%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SHOO. CX Institutional bought a new stake in Steven Madden during the 1st quarter valued at approximately $32,000. R Squared Ltd bought a new stake in shares of Steven Madden during the fourth quarter valued at approximately $55,000. Quarry LP lifted its holdings in shares of Steven Madden by 403.6% in the fourth quarter. Quarry LP now owns 1,385 shares of the textile maker’s stock worth $59,000 after buying an additional 1,110 shares in the last quarter. CWM LLC grew its stake in Steven Madden by 231.0% during the first quarter. CWM LLC now owns 2,277 shares of the textile maker’s stock valued at $61,000 after acquiring an additional 1,589 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in Steven Madden by 20.9% in the 4th quarter. Blue Trust Inc. now owns 1,958 shares of the textile maker’s stock valued at $83,000 after acquiring an additional 339 shares during the last quarter. Hedge funds and other institutional investors own 99.88% of the company’s stock.

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.