Steven Madden (NASDAQ:SHOO) Hits New 12-Month Low – What’s Next?

Shares of Steven Madden, Ltd. (NASDAQ:SHOO) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $28.22 and last traded at $28.13, with a volume of 669266 shares changing hands. The stock had previously closed at $28.68.

Wall Street Analyst Weigh In

A number of analysts recently commented on SHOO shares. Loop Capital decreased their price target on Steven Madden from $40.00 to $35.00 and set a “hold” rating for the company in a research report on Thursday, February 27th. Citigroup lowered their target price on Steven Madden from $38.00 to $35.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Jefferies Financial Group reissued a “hold” rating on shares of Steven Madden in a report on Monday, February 3rd. Telsey Advisory Group decreased their price objective on shares of Steven Madden from $44.00 to $38.00 and set a “market perform” rating for the company in a report on Thursday, February 27th. Finally, Piper Sandler dropped their target price on shares of Steven Madden from $45.00 to $40.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. Eight investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $40.33.

Steven Madden Stock Performance

The firm has a market capitalization of $2.03 billion, a P/E ratio of 11.91 and a beta of 1.06. The stock has a 50 day moving average of $38.78 and a 200-day moving average of $42.99.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings results on Wednesday, February 26th. The textile maker reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The company had revenue of $582.32 million for the quarter, compared to analysts’ expectations of $550.37 million. As a group, sell-side analysts expect that Steven Madden, Ltd. will post 2.66 EPS for the current year.

Steven Madden Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.00%. Steven Madden’s payout ratio is 35.74%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. FMR LLC lifted its holdings in shares of Steven Madden by 8,180.4% in the third quarter. FMR LLC now owns 535,081 shares of the textile maker’s stock worth $26,214,000 after buying an additional 528,619 shares in the last quarter. Geode Capital Management LLC lifted its stake in Steven Madden by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,710,492 shares of the textile maker’s stock worth $83,812,000 after purchasing an additional 49,075 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Steven Madden by 3.1% during the 4th quarter. Principal Financial Group Inc. now owns 381,196 shares of the textile maker’s stock valued at $16,208,000 after purchasing an additional 11,602 shares in the last quarter. Landscape Capital Management L.L.C. bought a new position in shares of Steven Madden in the third quarter worth $2,614,000. Finally, Fisher Asset Management LLC raised its position in shares of Steven Madden by 2.4% in the fourth quarter. Fisher Asset Management LLC now owns 745,798 shares of the textile maker’s stock worth $31,711,000 after buying an additional 17,124 shares in the last quarter. 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.