Steven Madden (NASDAQ:SHOO) Shares Down 16% – What’s Next?

Steven Madden, Ltd. (NASDAQ:SHOO)’s share price fell 16% during mid-day trading on Thursday . The company traded as low as $24.84 and last traded at $23.74. 352,254 shares changed hands during trading, a decline of 56% from the average session volume of 806,610 shares. The stock had previously closed at $28.28.

Analysts Set New Price Targets

SHOO has been the topic of several research reports. StockNews.com downgraded Steven Madden from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Loop Capital dropped their target price on Steven Madden from $40.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, February 27th. Citigroup reduced their target price on shares of Steven Madden from $38.00 to $35.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Telsey Advisory Group cut their price target on 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. Finally, Piper Sandler lowered their target price 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. Eight research 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 a consensus target price of $40.33.

Steven Madden Price Performance

The company’s fifty day simple moving average is $33.37 and its 200-day simple moving average is $40.76. The firm has a market capitalization of $1.70 billion, a PE ratio of 10.02 and a beta of 1.06.

Steven Madden (NASDAQ:SHOO) last announced its earnings results on Wednesday, February 26th. The textile maker reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. The business had revenue of $582.32 million during 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%. Analysts forecast that Steven Madden, Ltd. will post 2.66 earnings per share for the current year.

Steven Madden Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.84 dividend on an annualized basis and a yield of 3.57%. Steven Madden’s payout ratio is presently 35.74%.

Institutional Trading of Steven Madden

Hedge funds have recently bought and sold shares of the business. R Squared Ltd acquired a new position in Steven Madden during the fourth quarter worth $55,000. Quarry LP raised its stake in Steven Madden by 403.6% during 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 period. Blue Trust Inc. boosted its holdings in Steven Madden by 20.9% in the 4th 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 during the last quarter. KBC Group NV grew its stake in shares of Steven Madden by 36.5% in the 4th quarter. KBC Group NV now owns 3,013 shares of the textile maker’s stock valued at $128,000 after buying an additional 805 shares during the period. Finally, Smartleaf Asset Management LLC increased its holdings in shares of Steven Madden by 21.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 4,171 shares of the textile maker’s stock worth $176,000 after buying an additional 741 shares during the last quarter. Institutional investors and hedge funds 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.