Steven Madden (NASDAQ:SHOO) Sets New 12-Month Low – Here’s Why

Steven Madden, Ltd. (NASDAQ:SHOO)’s share price reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $24.97 and last traded at $25.23, with a volume of 196628 shares changing hands. The stock had previously closed at $25.30.

Wall Street Analysts Forecast Growth

SHOO has been the subject of a number of research reports. Jefferies Financial Group reiterated a “hold” rating on shares of Steven Madden in a report on Monday, February 3rd. StockNews.com lowered shares of Steven Madden from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Needham & Company LLC reissued a “hold” rating on shares of Steven Madden in a research note on Thursday, February 27th. Piper Sandler lowered their target price on Steven Madden from $45.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. Finally, Citigroup decreased their price target on Steven Madden from $38.00 to $35.00 and set a “neutral” 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 assigned a buy rating to the company’s stock. According to data from MarketBeat, Steven Madden currently has a consensus rating of “Hold” and an average price target of $40.33.

Steven Madden Stock Performance

The business has a 50 day moving average price of $37.18 and a 200-day moving average price of $42.34. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of 10.86 and a beta of 1.06.

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

Steven Madden Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 3.30%. Steven Madden’s dividend payout ratio is currently 35.74%.

Institutional Trading of Steven Madden

Large investors have recently made changes to their positions in the company. Gladius Capital Management LP acquired a new position in shares of Steven Madden during the third quarter valued at about $36,000. R Squared Ltd bought a new stake in Steven Madden during the 4th quarter worth approximately $55,000. Quarry LP raised its stake in shares of Steven Madden by 403.6% in the fourth quarter. Quarry LP now owns 1,385 shares of the textile maker’s stock worth $59,000 after purchasing an additional 1,110 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Steven Madden by 20.9% in the fourth quarter. Blue Trust Inc. now owns 1,958 shares of the textile maker’s stock valued at $83,000 after purchasing an additional 339 shares in the last quarter. Finally, KBC Group NV boosted its position in shares of Steven Madden by 34.1% during the third quarter. KBC Group NV now owns 2,208 shares of the textile maker’s stock valued at $108,000 after buying an additional 561 shares during the last quarter. 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.