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

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SHOO. StockNews.com cut Steven Madden from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Needham & Company LLC restated a “hold” rating on shares of Steven Madden in a research note on Thursday, February 27th. Loop Capital cut their price objective on shares of Steven Madden from $40.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday, February 27th. Jefferies Financial Group reissued a “hold” rating on shares of Steven Madden in a report on Monday, February 3rd. Finally, Citigroup lowered their price target 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. Eight research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Steven Madden presently has a consensus rating of “Hold” and an average price target of $40.33.

Steven Madden Price Performance

The stock has a market capitalization of $2.19 billion, a PE ratio of 12.86 and a beta of 1.07. The stock’s fifty day moving average is $39.83 and its 200-day moving average is $43.41.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings results on Wednesday, February 26th. The textile maker reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.02. The firm had revenue of $582.32 million during the quarter, compared to analyst estimates of $550.37 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. On average, analysts forecast that Steven Madden, Ltd. will post 2.66 EPS for the current year.

Steven Madden Dividend Announcement

The business 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. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.84 annualized dividend and a dividend yield of 2.77%. Steven Madden’s dividend payout ratio (DPR) is presently 35.74%.

Institutional Investors Weigh In On Steven Madden

Several large investors have recently bought and sold shares of SHOO. FMR LLC raised its stake in Steven Madden by 8,180.4% in the 3rd quarter. FMR LLC now owns 535,081 shares of the textile maker’s stock valued at $26,214,000 after purchasing an additional 528,619 shares during the last quarter. Geode Capital Management LLC lifted its stake in Steven Madden by 3.0% in 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 in the last quarter. Principal Financial Group Inc. grew its position in shares of Steven Madden by 3.1% in the fourth 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. acquired a new stake in shares of Steven Madden in the third quarter valued at approximately $2,614,000. Finally, Systematic Financial Management LP lifted its position in 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 in the last quarter. 99.88% of the stock is currently owned by hedge funds and other 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.