Steven Madden (NASDAQ:SHOO) Hits New 1-Year Low – Here’s Why

Steven Madden, Ltd. (NASDAQ:SHOO)’s share price hit a new 52-week low during trading on Tuesday . The stock traded as low as $29.40 and last traded at $29.66, with a volume of 74472 shares changing hands. The stock had previously closed at $30.45.

Analysts Set New Price Targets

SHOO has been the subject of several research analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Steven Madden in a research note on Thursday, February 27th. StockNews.com downgraded Steven Madden from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Citigroup reduced their target price on shares of Steven Madden from $38.00 to $35.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. Telsey Advisory Group dropped their price target on shares of 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. Finally, Piper Sandler cut their price target on shares of Steven Madden from $45.00 to $40.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. Eight analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $40.33.

Steven Madden Stock Performance

The business has a 50 day moving average of $39.83 and a two-hundred day moving average of $43.41. The stock has a market capitalization of $2.19 billion, a PE ratio of 12.86 and a beta of 1.07.

Steven Madden (NASDAQ:SHOO) last announced its earnings results on Wednesday, February 26th. The textile maker reported $0.55 EPS for the quarter, topping 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 business had revenue of $582.32 million during the quarter, compared to the consensus estimate of $550.37 million. On average, equities analysts expect that Steven Madden, Ltd. will post 2.66 EPS for the current fiscal year.

Steven Madden Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Monday, March 10th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.84 annualized dividend and a yield of 2.77%. Steven Madden’s dividend payout ratio (DPR) is 35.74%.

Hedge Funds Weigh In On Steven Madden

A number of large investors have recently made changes to their positions in the business. FMR LLC grew its stake in Steven Madden by 8,180.4% during the 3rd 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. Geode Capital Management LLC grew its position in Steven Madden by 3.0% during 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 during the last quarter. Principal Financial Group Inc. increased its stake in 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. purchased a new position in shares of Steven Madden in the third quarter worth $2,614,000. Finally, Systematic Financial Management LP lifted its stake in shares of Steven Madden by 15.9% during the third quarter. Systematic Financial Management LP now owns 439,126 shares of the textile maker’s stock worth $21,513,000 after buying an additional 60,276 shares during the period. 99.88% of the stock is 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.