Steven Madden (NASDAQ:SHOO) Hits New 52-Week Low – Here’s What Happened

Shares of Steven Madden, Ltd. (NASDAQ:SHOO) hit a new 52-week low during trading on Monday . The stock traded as low as $24.97 and last traded at $25.23, with a volume of 196628 shares traded. The stock had previously closed at $25.30.

Analysts Set New Price Targets

A number of research analysts recently issued reports on SHOO shares. Needham & Company LLC reiterated a “hold” rating on shares of Steven Madden in a research report on Thursday, February 27th. StockNews.com lowered shares of Steven Madden from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Jefferies Financial Group restated a “hold” rating on shares of Steven Madden in a research note on Monday, February 3rd. Piper Sandler dropped their price target on 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, Telsey Advisory Group reduced their price objective on Steven Madden from $44.00 to $38.00 and set a “market perform” rating for the company in a research note on Thursday, February 27th. Eight investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $40.33.

Steven Madden Trading Down 1.7 %

The stock has a market capitalization of $1.83 billion, a P/E ratio of 10.77 and a beta of 1.06. The business has a fifty day simple moving average of $36.53 and a 200 day simple moving average of $42.07.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings results 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 business had revenue of $582.32 million during the quarter, compared to the consensus estimate of $550.37 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. As a group, research analysts forecast that Steven Madden, Ltd. will post 2.66 earnings per share for the current year.

Steven Madden Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Monday, March 10th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend is Monday, March 10th. Steven Madden’s payout ratio is currently 35.74%.

Institutional Investors Weigh In On Steven Madden

Institutional investors have recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division increased its stake in Steven Madden by 7.4% in the 4th quarter. Central Pacific Bank Trust Division now owns 4,202 shares of the textile maker’s stock valued at $179,000 after buying an additional 290 shares during the last quarter. Mariner LLC increased its stake in shares of Steven Madden by 7.2% during the 4th quarter. Mariner LLC now owns 4,740 shares of the textile maker’s stock worth $202,000 after purchasing an additional 319 shares during the last quarter. Moran Wealth Management LLC increased its stake in shares of Steven Madden by 1.6% during the 4th quarter. Moran Wealth Management LLC now owns 21,126 shares of the textile maker’s stock worth $898,000 after purchasing an additional 325 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Steven Madden by 20.9% during the 4th quarter. Blue Trust Inc. now owns 1,958 shares of the textile maker’s stock worth $83,000 after purchasing an additional 339 shares during the last quarter. Finally, Tidal Investments LLC increased its stake in shares of Steven Madden by 2.4% during the 4th quarter. Tidal Investments LLC now owns 17,784 shares of the textile maker’s stock worth $756,000 after purchasing an additional 409 shares during the last quarter. 99.88% of the stock is owned by institutional investors.

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.