Steven Madden, Ltd. (NASDAQ:SHOO) CEO Edward R. Rosenfeld sold 33,000 shares of the company’s stock in a transaction dated Friday, March 16th. The stock was sold at an average price of $45.82, for a total value of $1,512,060.00. Following the completion of the transaction, the chief executive officer now directly owns 515,200 shares of the company’s stock, valued at approximately $23,606,464. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
SHOO stock opened at $45.95 on Wednesday. Steven Madden, Ltd. has a one year low of $35.55 and a one year high of $49.28. The company has a market capitalization of $2,730.42, a P/E ratio of 22.41, a P/E/G ratio of 1.49 and a beta of 0.45.
Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings results on Tuesday, February 27th. The textile maker reported $0.48 EPS for the quarter, meeting analysts’ consensus estimates of $0.48. Steven Madden had a return on equity of 16.68% and a net margin of 7.63%. The company had revenue of $364.40 million during the quarter, compared to analyst estimates of $360.27 million. During the same period in the prior year, the company earned $0.49 earnings per share. The firm’s revenue was up 8.3% on a year-over-year basis. equities analysts anticipate that Steven Madden, Ltd. will post 2.67 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Monday, March 12th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date is Friday, March 9th. Steven Madden’s payout ratio is presently 39.02%.
A number of institutional investors have recently made changes to their positions in SHOO. Carillon Tower Advisers Inc. bought a new position in Steven Madden during the fourth quarter valued at approximately $54,097,000. Macquarie Group Ltd. boosted its stake in Steven Madden by 11.0% during the fourth quarter. Macquarie Group Ltd. now owns 2,713,069 shares of the textile maker’s stock valued at $126,700,000 after buying an additional 269,647 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Steven Madden by 59.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 691,536 shares of the textile maker’s stock valued at $32,294,000 after purchasing an additional 257,393 shares during the period. Emerald Advisers Inc. PA raised its position in Steven Madden by 61.2% during the fourth quarter. Emerald Advisers Inc. PA now owns 639,344 shares of the textile maker’s stock valued at $29,857,000 after purchasing an additional 242,767 shares during the period. Finally, Monarch Partners Asset Management LLC purchased a new stake in Steven Madden during the fourth quarter valued at approximately $9,270,000. 95.51% of the stock is owned by institutional investors.
A number of equities analysts have recently weighed in on SHOO shares. BidaskClub lowered Steven Madden from a “buy” rating to a “hold” rating in a research note on Thursday, January 18th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $51.00 price objective (up previously from $44.00) on shares of Steven Madden in a research note on Tuesday, January 9th. Canaccord Genuity set a $52.00 price objective on Steven Madden and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Zacks Investment Research raised Steven Madden from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research note on Wednesday, January 10th. Finally, Wedbush reaffirmed a “buy” rating and issued a $53.00 price objective on shares of Steven Madden in a research note on Tuesday, December 19th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Steven Madden presently has an average rating of “Buy” and an average target price of $49.29.
About Steven Madden
Steven Madden, Ltd. and its subsidiaries design, source, market and sell name brand and private label footwear for women, men and children, and name brand and private label fashion handbags and accessories. The Company operates through five segments: Wholesale Footwear, Wholesale Accessories, Retail, First Cost and Licensing.
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