Steven Madden (NASDAQ:SHOO) Reaches New 52-Week Low – Here’s Why

Steven Madden, Ltd. (NASDAQ:SHOO) shares hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $36.40 and last traded at $37.73, with a volume of 1042922 shares changing hands. The stock had previously closed at $37.19.

Analysts Set New Price Targets

A number of research analysts have commented on SHOO shares. Telsey Advisory Group decreased their target price on shares of Steven Madden from $50.00 to $44.00 and set a “market perform” rating on the stock in a research report on Tuesday, February 4th. Piper Sandler lowered their price objective on shares of Steven Madden from $45.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. Needham & Company LLC reissued a “hold” rating on shares of Steven Madden in a research report on Thursday, February 6th. StockNews.com cut Steven Madden from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Finally, Citigroup cut their price objective on Steven Madden from $45.00 to $38.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Steven Madden presently has an average rating of “Hold” and an average price target of $43.33.

Steven Madden Price Performance

The stock’s 50 day moving average is $41.49 and its two-hundred day moving average is $43.95. The stock has a market capitalization of $2.72 billion, a PE ratio of 16.01 and a beta of 1.07.

Steven Madden Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were given a dividend of $0.21 per share. The ex-dividend date was Friday, December 13th. This represents a $0.84 annualized dividend and a dividend yield of 2.23%. Steven Madden’s dividend payout ratio (DPR) is currently 35.74%.

Hedge Funds Weigh In On Steven Madden

Several large investors have recently bought and sold shares of SHOO. Central Pacific Bank Trust Division boosted its position in shares of Steven Madden by 7.4% during the 4th quarter. Central Pacific Bank Trust Division now owns 4,202 shares of the textile maker’s stock worth $179,000 after acquiring an additional 290 shares in the last quarter. Moran Wealth Management LLC boosted its holdings in Steven Madden by 1.6% in the fourth quarter. Moran Wealth Management LLC now owns 21,126 shares of the textile maker’s stock valued at $898,000 after purchasing an additional 325 shares in the last quarter. Blue Trust Inc. raised its holdings in Steven Madden by 20.9% during the fourth quarter. Blue Trust Inc. now owns 1,958 shares of the textile maker’s stock worth $83,000 after purchasing an additional 339 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings in Steven Madden by 1.2% during the third quarter. Louisiana State Employees Retirement System now owns 35,100 shares of the textile maker’s stock worth $1,720,000 after purchasing an additional 400 shares in the last quarter. Finally, KBC Group NV lifted its position in shares of Steven Madden by 34.1% during the 3rd quarter. KBC Group NV now owns 2,208 shares of the textile maker’s stock worth $108,000 after buying an additional 561 shares during the last quarter. Hedge funds and other institutional investors own 99.88% of the company’s stock.

Steven Madden Company Profile

Steven Madden, Ltd. designs, sources, and markets fashion-forward branded and private label footwear, accessories, and apparel in the United States and internationally. It operates through Wholesale Footwear, Wholesale Accessories/Apparel, Direct-to- Consumer, and Licensing segments. The Wholesale Footwear segment designs, sources, and markets various products, including dress shoes, boots, booties, fashion sneakers, sandals, and casual shoes under the Steve Madden, Dolce Vita, Betsey Johnson, Blondo, GREATS, and Anne Klein brands.