Key Points
- Director Arian Simone Reed sold 3,600 shares on March 12 at an average price of $33.44 for $120,384, reducing her stake by 29.26% to 8,705 shares, according to an SEC filing.
- Steven Madden beat EPS estimates with $0.48 for the quarter (vs. $0.46 expected) and saw revenue rise 29.6% YoY to $753.7M, and the company announced a quarterly dividend of $0.21 per share (a 2.6% yield) although the payout ratio is elevated at 135.48%.
- Analyst sentiment is mixed — the consensus rating is a "Hold" with an average target of $44 (range roughly $30–$50), while the stock recently traded down to $31.83 and has a market cap of about $2.32 billion.
Steven Madden, Ltd. (NASDAQ:SHOO - Get Free Report) Director Arian Simone Reed sold 3,600 shares of the business's stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $33.44, for a total value of $120,384.00. Following the completion of the sale, the director owned 8,705 shares in the company, valued at approximately $291,095.20. This trade represents a 29.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Steven Madden Stock Down 2.4%
Steven Madden stock traded down $0.78 during midday trading on Friday, reaching $31.83. The stock had a trading volume of 501,480 shares, compared to its average volume of 1,567,175. The stock has a market capitalization of $2.32 billion, a P/E ratio of 51.35 and a beta of 1.13. The firm's fifty day simple moving average is $40.37 and its 200-day simple moving average is $37.87. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.11 and a current ratio of 1.90. Steven Madden, Ltd. has a 1-year low of $19.05 and a 1-year high of $46.88.
Steven Madden (NASDAQ:SHOO - Get Free Report) last released its quarterly earnings results on Wednesday, February 25th. The textile maker reported $0.48 earnings per share for the quarter, topping analysts' consensus estimates of $0.46 by $0.02. The firm had revenue of $753.70 million during the quarter, compared to the consensus estimate of $758.53 million. Steven Madden had a return on equity of 13.60% and a net margin of 1.76%.The business's revenue was up 29.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.55 EPS. As a group, analysts expect that Steven Madden, Ltd. will post 2.66 EPS for the current fiscal year.
Steven Madden Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Wednesday, March 11th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Wednesday, March 11th. Steven Madden's dividend payout ratio is currently 135.48%.
Analyst Ratings Changes
Several analysts recently issued reports on the company. UBS Group reiterated a "neutral" rating on shares of Steven Madden in a report on Monday, February 23rd. Needham & Company LLC lowered their price target on Steven Madden from $50.00 to $41.00 and set a "buy" rating on the stock in a research report on Wednesday, February 25th. Jefferies Financial Group cut Steven Madden from a "hold" rating to an "underperform" rating and set a $30.00 price objective on the stock. in a research note on Thursday, February 5th. BTIG Research reissued a "buy" rating and issued a $50.00 target price on shares of Steven Madden in a research note on Thursday, February 26th. Finally, Williams Trading set a $48.00 target price on shares of Steven Madden in a report on Tuesday. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $44.00.
View Our Latest Analysis on Steven Madden
Institutional Investors Weigh In On Steven Madden
Large investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC lifted its holdings in Steven Madden by 86.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the textile maker's stock valued at $25,000 after purchasing an additional 485 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in shares of Steven Madden in the fourth quarter valued at about $30,000. SBI Securities Co. Ltd. acquired a new stake in shares of Steven Madden during the 3rd quarter worth about $31,000. Global Retirement Partners LLC lifted its stake in shares of Steven Madden by 1,064.3% during the 4th quarter. Global Retirement Partners LLC now owns 815 shares of the textile maker's stock worth $34,000 after buying an additional 745 shares during the last quarter. Finally, First Horizon Corp boosted its holdings in shares of Steven Madden by 55.1% during the 4th quarter. First Horizon Corp now owns 892 shares of the textile maker's stock worth $37,000 after buying an additional 317 shares during the period. Institutional investors own 99.88% of the company's stock.
Steven Madden Company Profile
(
Get Free Report)
Steven Madden, Inc (NASDAQ: SHOO) is a New York–based designer and marketer of fashion footwear, handbags and accessories. The company's product portfolio spans a range of contemporary and lifestyle brands for women, men and children, including its core Steve Madden label as well as the Madden Girl and Dolce Vita brands. In addition to footwear, the company licenses its trademarks for use on apparel, eyewear and other fashion accessories.
Steven Madden distributes its products through multiple channels, including wholesale partners, e-commerce platforms and its own brick-and-mortar retail stores.
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