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 traded.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Piper Sandler lowered their price target on Steven Madden from $35.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Loop Capital reduced their target price on shares of Steven Madden from $40.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, February 27th. Jefferies Financial Group reiterated a “hold” rating on shares of Steven Madden in a report on Monday, February 3rd. UBS Group lowered their price objective on shares of Steven Madden from $24.00 to $22.00 and set a “neutral” rating for the company in a research note on Wednesday, April 23rd. Finally, Citigroup cut their target price on Steven Madden from $35.00 to $23.00 and set a “neutral” rating on the stock in a research note on Thursday. Nine research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, Steven Madden currently has an average rating of “Hold” and an average target price of $31.86.

Steven Madden Stock Performance

The firm has a market capitalization of $1.53 billion, a PE ratio of 8.98 and a beta of 0.98. The firm’s fifty day moving average price is $24.60 and its 200 day moving average price is $36.23.

Steven Madden (NASDAQ:SHOO) last released its quarterly earnings data on Wednesday, February 26th. The textile maker reported $0.55 EPS for the quarter, beating 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 company had revenue of $582.32 million during the quarter, compared to the consensus estimate of $550.37 million. On average, analysts predict that Steven Madden, Ltd. will post 2.66 earnings per share for the current year.

Steven Madden Announces Dividend

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

Institutional Trading of Steven Madden

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Central Pacific Bank Trust Division raised its position in shares of Steven Madden by 7.4% during the 4th quarter. Central Pacific Bank Trust Division now owns 4,202 shares of the textile maker’s stock worth $179,000 after purchasing an additional 290 shares during the last quarter. Mariner LLC lifted its position in shares of Steven Madden by 7.2% in the fourth quarter. Mariner LLC now owns 4,740 shares of the textile maker’s stock valued at $202,000 after acquiring an additional 319 shares in the last quarter. Moran Wealth Management LLC raised its stake in Steven Madden by 1.6% in the 4th quarter. Moran Wealth Management LLC now owns 21,126 shares of the textile maker’s stock valued at $898,000 after purchasing an additional 325 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Steven Madden by 20.9% during the fourth quarter. Blue Trust Inc. now owns 1,958 shares of the textile maker’s stock worth $83,000 after buying an additional 339 shares in the last quarter. Finally, Tidal Investments LLC raised its position in shares of Steven Madden by 2.4% in the fourth quarter. Tidal Investments LLC now owns 17,784 shares of the textile maker’s stock valued at $756,000 after buying an additional 409 shares during the last quarter. Hedge funds and other institutional investors own 99.88% of the company’s stock.

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.