Steven Madden, Ltd. (NASDAQ:SHOO) posted its quarterly earnings results on Tuesday, August 1st. The textile maker reported $0.51 EPS for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.06, Bloomberg Earnings reports. The business had revenue of $374.15 million for the quarter, compared to analysts’ expectations of $355.22 million. Steven Madden had a return on equity of 17.57% and a net margin of 8.19%. The business’s quarterly revenue was up 15.0% on a year-over-year basis. During the same period last year, the firm earned $0.42 earnings per share. Steven Madden updated its FY17 guidance to $2.18-2.24 EPS.
Shares of Steven Madden (NASDAQ SHOO) opened at 41.05 on Friday. The company has a 50 day moving average price of $40.66 and a 200-day moving average price of $38.38. The stock has a market cap of $2.43 billion, a price-to-earnings ratio of 19.76 and a beta of 0.53. Steven Madden has a one year low of $32.30 and a one year high of $43.80.
A number of equities research analysts have commented on the company. Canaccord Genuity set a $45.00 price target on Steven Madden and gave the company a “buy” rating in a report on Friday, May 26th. Jefferies Group LLC set a $37.00 price target on Steven Madden and gave the company a “hold” rating in a report on Saturday, May 13th. B. Riley reaffirmed a “buy” rating and issued a $45.00 target price on shares of Steven Madden in a report on Saturday, April 29th. Piper Jaffray Companies set a $41.00 target price on Steven Madden and gave the stock a “buy” rating in a report on Friday, April 21st. Finally, Zacks Investment Research raised Steven Madden from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a report on Tuesday, June 20th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $44.04.
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In other news, Director Rose Peabody Lynch sold 2,240 shares of Steven Madden stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $39.32, for a total transaction of $88,076.80. Following the completion of the sale, the director now directly owns 4,754 shares of the company’s stock, valued at approximately $186,927.28. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Karla Frieders sold 60,000 shares of Steven Madden stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $38.99, for a total transaction of $2,339,400.00. Following the sale, the insider now directly owns 148,216 shares of the company’s stock, valued at $5,778,941.84. The disclosure for this sale can be found here. Insiders sold a total of 122,740 shares of company stock valued at $4,832,677 in the last three months. 2.20% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in the company. Riverhead Capital Management LLC raised its stake in shares of Steven Madden by 97.1% in the second quarter. Riverhead Capital Management LLC now owns 2,562 shares of the textile maker’s stock valued at $102,000 after buying an additional 1,262 shares in the last quarter. Elkfork Partners LLC raised its stake in shares of Steven Madden by 17.5% in the first quarter. Elkfork Partners LLC now owns 2,662 shares of the textile maker’s stock valued at $103,000 after buying an additional 396 shares in the last quarter. TrimTabs Asset Management LLC raised its stake in shares of Steven Madden by 89.1% in the first quarter. TrimTabs Asset Management LLC now owns 3,023 shares of the textile maker’s stock valued at $117,000 after buying an additional 1,424 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in Steven Madden during the second quarter worth approximately $127,000. Finally, Meadow Creek Investment Management LLC raised its position in Steven Madden by 17.5% in the first quarter. Meadow Creek Investment Management LLC now owns 3,388 shares of the textile maker’s stock worth $131,000 after buying an additional 504 shares in the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.
Steven Madden Company Profile
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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