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

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

Analyst Ratings Changes

SHOO has been the subject of several analyst reports. Jefferies Financial Group reissued a “hold” rating on shares of Steven Madden in a report on Monday, February 3rd. Needham & Company LLC reissued a “hold” rating on shares of Steven Madden in a research note on Thursday, February 27th. Piper Sandler dropped their price target 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. StockNews.com downgraded Steven Madden from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Finally, Telsey Advisory Group lowered their target price on Steven Madden from $44.00 to $38.00 and set a “market perform” rating on the stock in a research report on Thursday, February 27th. Eight analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $40.33.

Steven Madden Stock Performance

The stock has a 50 day moving average price of $38.17 and a 200 day moving average price of $42.74. The company has a market cap of $1.87 billion, a P/E ratio of 11.00 and a beta of 1.06.

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

Steven Madden Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Monday, March 10th will be issued 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 3.25%. Steven Madden’s dividend payout ratio is 35.74%.

Institutional Investors Weigh In On Steven Madden

A number of institutional investors have recently bought and sold shares of SHOO. FMR LLC lifted its position 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 purchasing an additional 528,619 shares in the last quarter. Geode Capital Management LLC raised its position in Steven Madden by 3.0% during the third quarter. Geode Capital Management LLC now owns 1,710,492 shares of the textile maker’s stock valued at $83,812,000 after acquiring an additional 49,075 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Steven Madden by 3.1% in the fourth quarter. Principal Financial Group Inc. now owns 381,196 shares of the textile maker’s stock valued at $16,208,000 after acquiring an additional 11,602 shares during the last quarter. Fisher Asset Management LLC grew its position in 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 acquiring an additional 17,124 shares in the last quarter. Finally, Landscape Capital Management L.L.C. bought a new position in shares of Steven Madden in the 3rd quarter valued at approximately $2,614,000. 99.88% of the stock is currently owned by institutional investors and hedge funds.

About Steven Madden

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.