Steven Madden (NASDAQ:SHOO) had its price target trimmed by Citigroup from $40.67 to $38.00 in a research note released on Friday. The brokerage currently has a buy rating on the textile maker’s stock.

A number of other analysts have also recently issued reports on the company. Buckingham Research lowered their target price on Steven Madden to $36.00 and set a buy rating for the company in a research note on Wednesday. ValuEngine cut Steven Madden from a hold rating to a sell rating in a research note on Friday, October 12th. BidaskClub cut Steven Madden from a sell rating to a strong sell rating in a research note on Friday, October 5th. Canaccord Genuity reissued a buy rating and set a $41.33 target price on shares of Steven Madden in a research note on Monday, August 13th. Finally, Loop Capital set a $36.00 target price on Steven Madden and gave the stock a hold rating in a research note on Wednesday, August 8th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company’s stock. Steven Madden has a consensus rating of Hold and an average target price of $36.00.

Shares of SHOO stock traded down $0.88 on Friday, reaching $28.10. The company had a trading volume of 1,107,633 shares, compared to its average volume of 1,147,580. The stock has a market cap of $2.54 billion, a PE ratio of 18.86, a price-to-earnings-growth ratio of 1.52 and a beta of 0.53. Steven Madden has a 12 month low of $24.83 and a 12 month high of $39.30.

Steven Madden (NASDAQ:SHOO) last posted its earnings results on Tuesday, July 31st. The textile maker reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. Steven Madden had a return on equity of 17.01% and a net margin of 8.17%. The business had revenue of $395.80 million during the quarter, compared to analysts’ expectations of $390.57 million. During the same period in the prior year, the business earned $0.34 EPS. Steven Madden’s revenue for the quarter was up 5.8% compared to the same quarter last year. Analysts anticipate that Steven Madden will post 1.79 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Tuesday, September 18th were paid a dividend of $0.1333 per share. The ex-dividend date of this dividend was Monday, September 17th. This represents a $0.53 annualized dividend and a dividend yield of 1.90%. Steven Madden’s dividend payout ratio is currently 35.57%.

In other news, Director Rose Peabody Lynch sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 18th. The shares were sold at an average price of $57.27, for a total transaction of $143,175.00. Following the completion of the transaction, the director now directly owns 7,103 shares of the company’s stock, valued at approximately $406,788.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Awadhesh K. Sinha sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $57.50, for a total transaction of $230,000.00. Following the transaction, the chief operating officer now directly owns 57,845 shares of the company’s stock, valued at $3,326,087.50. The disclosure for this sale can be found here. Insiders have sold a total of 13,500 shares of company stock valued at $771,405 over the last ninety days. Company insiders own 1.77% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of SHOO. Victory Capital Management Inc. grew its stake in shares of Steven Madden by 131.6% during the 2nd quarter. Victory Capital Management Inc. now owns 1,949,545 shares of the textile maker’s stock worth $103,520,000 after acquiring an additional 1,107,668 shares in the last quarter. BlackRock Inc. grew its stake in shares of Steven Madden by 6.5% during the 2nd quarter. BlackRock Inc. now owns 7,499,094 shares of the textile maker’s stock worth $398,201,000 after acquiring an additional 459,305 shares in the last quarter. Jennison Associates LLC grew its stake in shares of Steven Madden by 35.7% during the 2nd quarter. Jennison Associates LLC now owns 1,311,602 shares of the textile maker’s stock worth $69,646,000 after acquiring an additional 345,001 shares in the last quarter. Cortina Asset Management LLC grew its stake in shares of Steven Madden by 113.6% during the 2nd quarter. Cortina Asset Management LLC now owns 481,658 shares of the textile maker’s stock worth $25,576,000 after acquiring an additional 256,154 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new position in shares of Steven Madden during the 2nd quarter worth approximately $12,013,000. 95.88% of the stock is owned by institutional investors.

Steven Madden Company Profile

Steven Madden, Ltd. designs, sources, markets, and sells fashion-forward name brand and private label footwear for women, men, and children worldwide. Its Wholesale Footwear segment provides footwear under the Steve Madden Women's, Madden Girl, Steve Madden Men's, Madden, Madden NYC, Dolce Vita, DV by Dolce Vita, Mad Love, Steven by Steve Madden, Report, Superga, Betsey Johnson, Betseyville, Steve Madden Kids, FREEBIRD by Steven, Stevies, B Brian Atwood, Blondo, Kate Spade, and Avec Les Filles brands, as well as private label footwear.

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Analyst Recommendations for Steven Madden (NASDAQ:SHOO)

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