Steven Madden (NASDAQ:SHOO) Hits New 1-Year Low – Should You Sell?

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

Analysts Set New Price Targets

SHOO has been the subject of several research analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Steven Madden in a research report on Thursday, February 6th. Piper Sandler dropped their target price 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. Citigroup reduced their price target on shares of Steven Madden from $45.00 to $38.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. StockNews.com downgraded shares of Steven Madden from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Finally, Telsey Advisory Group decreased their target price on 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. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $43.33.

Steven Madden Trading Up 1.5 %

The business’s 50 day simple moving average is $41.81 and its 200 day simple moving average is $44.04. The firm has a market capitalization of $2.72 billion, a PE ratio of 16.06 and a beta of 1.07.

Steven Madden Dividend Announcement

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

Institutional Investors Weigh In On Steven Madden

Hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp raised its holdings in shares of Steven Madden by 1.7% in the third quarter. State Street Corp now owns 2,756,075 shares of the textile maker’s stock worth $135,020,000 after buying an additional 47,017 shares during the period. Pacer Advisors Inc. bought a new position in Steven Madden in the 4th quarter valued at $72,795,000. Geode Capital Management LLC increased its stake in Steven Madden by 3.0% in the third 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 during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Steven Madden by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,122,680 shares of the textile maker’s stock worth $47,736,000 after purchasing an additional 25,903 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Steven Madden by 2.1% during the fourth quarter. Bank of New York Mellon Corp now owns 837,865 shares of the textile maker’s stock valued at $35,626,000 after purchasing an additional 17,173 shares during the period. 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.