Steven Madden (NASDAQ:SHOO) Stock Crosses Above 200-Day Moving Average – Time to Sell?
by Amy Steele · The Cerbat GemSteven Madden, Ltd. (NASDAQ:SHOO – Get Free Report)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $38.35 and traded as high as $38.45. Steven Madden shares last traded at $38.18, with a volume of 988,318 shares trading hands.
Analysts Set New Price Targets
SHOO has been the topic of several analyst reports. Zacks Research upgraded shares of Steven Madden from a “strong sell” rating to a “hold” rating in a research note on Wednesday. BTIG Research reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Steven Madden in a research report on Thursday, February 26th. Williams Trading set a $48.00 target price on Steven Madden in a research note on Tuesday, March 10th. Needham & Company LLC reduced their target price on Steven Madden from $50.00 to $41.00 and set a “buy” rating for the company in a report on Wednesday, February 25th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Steven Madden in a research note on Thursday, January 22nd. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $44.00.
View Our Latest Stock Analysis on Steven Madden
Steven Madden Stock Performance
The firm has a market capitalization of $2.77 billion, a PE ratio of 61.25 and a beta of 1.13. The company has a current ratio of 1.90, a quick ratio of 1.11 and a debt-to-equity ratio of 0.26. The business’s 50 day simple moving average is $35.85 and its two-hundred day simple moving average is $38.38.
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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.02. The firm had revenue of $753.70 million for 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 company’s revenue for the quarter was up 29.6% on a year-over-year basis. During the same period last year, the business posted $0.55 EPS. Research analysts expect that Steven Madden, Ltd. will post 2.66 earnings per share for the current fiscal year.
Steven Madden Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Wednesday, March 11th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Wednesday, March 11th. Steven Madden’s payout ratio is currently 135.48%.
Insider Activity at Steven Madden
In other news, Director Arian Simone Reed sold 3,600 shares of the company’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $33.44, for a total transaction of $120,384.00. Following the completion of the sale, the director owned 8,705 shares of the company’s stock, valued at $291,095.20. This represents a 29.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.22% of the stock is owned by insiders.
Institutional Trading of Steven Madden
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio boosted its stake in shares of Steven Madden by 13.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 2,324 shares of the textile maker’s stock worth $78,000 after acquiring an additional 283 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in Steven Madden by 1.8% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 16,640 shares of the textile maker’s stock worth $693,000 after purchasing an additional 300 shares during the period. First Horizon Corp raised its holdings in Steven Madden by 55.1% in the 4th quarter. First Horizon Corp now owns 892 shares of the textile maker’s stock worth $37,000 after purchasing an additional 317 shares during the period. Vanguard Personalized Indexing Management LLC lifted its position in Steven Madden by 2.4% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 13,738 shares of the textile maker’s stock valued at $572,000 after purchasing an additional 321 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in Steven Madden by 0.7% during the second quarter. Thrivent Financial for Lutherans now owns 53,404 shares of the textile maker’s stock valued at $1,281,000 after purchasing an additional 378 shares in the last quarter. 99.88% of the stock is owned by hedge funds and other institutional investors.
About Steven Madden
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.