Steven Madden (NASDAQ:SHOO) Shares Down 1.8% – Time to Sell?

Steven Madden, Ltd. (NASDAQ:SHOO) shares were down 1.8% during mid-day trading on Friday . The stock traded as low as $25.06 and last traded at $25.23. Approximately 410,282 shares were traded during trading, a decline of 45% from the average daily volume of 741,883 shares. The stock had previously closed at $25.68.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on SHOO shares. StockNews.com cut Steven Madden from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Jefferies Financial Group restated a “hold” rating on shares of Steven Madden in a research report on Monday, February 3rd. Telsey Advisory Group reduced their price target on shares of 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. Piper Sandler decreased their price objective 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. Finally, Loop Capital cut their target price on Steven Madden from $40.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. Eight analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Steven Madden presently has a consensus rating of “Hold” and a consensus price target of $40.33.

Steven Madden Stock Performance

The business’s fifty day moving average is $37.18 and its 200-day moving average is $42.36. The firm has a market cap of $1.83 billion, a P/E ratio of 10.77 and a beta of 1.06.

Steven Madden (NASDAQ:SHOO) last released its quarterly earnings results on Wednesday, February 26th. The textile maker reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.02. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The firm had revenue of $582.32 million during the quarter, compared to the consensus estimate of $550.37 million. Analysts predict that Steven Madden, Ltd. will post 2.66 EPS for the current fiscal year.

Steven Madden Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 10th will be given a $0.21 dividend. 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 3.32%. Steven Madden’s dividend payout ratio (DPR) is presently 35.74%.

Hedge Funds Weigh In On Steven Madden

A number of hedge funds and other institutional investors have recently made changes to their positions in SHOO. Pacer Advisors Inc. bought a new position in Steven Madden during the 4th quarter worth approximately $72,795,000. First Trust Advisors LP increased its position in shares of Steven Madden by 36.9% during the fourth quarter. First Trust Advisors LP now owns 2,002,228 shares of the textile maker’s stock worth $85,135,000 after buying an additional 539,738 shares during the period. FMR LLC raised its stake in Steven Madden by 8,180.4% during 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 during the last quarter. Raymond James Financial Inc. acquired a new position in Steven Madden in the fourth quarter valued at $13,652,000. Finally, Weiss Asset Management LP bought a new stake in Steven Madden during the third quarter valued at $12,558,000. 99.88% of the stock is owned by institutional investors and hedge funds.

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.