Steven Madden (NASDAQ:SHOO) Reaches New 1-Year Low – What’s Next?

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

Wall Street Analysts Forecast Growth

A number of research analysts have commented on SHOO shares. Citigroup decreased their price objective on Steven Madden from $38.00 to $35.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. Loop Capital decreased their price target 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. Telsey Advisory Group dropped their price objective 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. Jefferies Financial Group restated a “hold” rating on shares of Steven Madden in a research report on Monday, February 3rd. Finally, StockNews.com cut shares of Steven Madden from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Eight investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $40.33.

Steven Madden Stock Performance

The company has a market cap of $1.84 billion, a P/E ratio of 10.86 and a beta of 1.06. The stock’s fifty day moving average price is $37.18 and its two-hundred day moving average price is $42.34.

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

Steven Madden Announces Dividend

The firm 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 dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.30%. The ex-dividend date of this dividend is Monday, March 10th. Steven Madden’s payout ratio is 35.74%.

Institutional Investors Weigh In On Steven Madden

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Steven Madden by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 8,097,339 shares of the textile maker’s stock valued at $344,299,000 after purchasing an additional 54,877 shares during the last quarter. State Street Corp increased its holdings in shares of Steven Madden by 1.7% during 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 in the last quarter. First Trust Advisors LP lifted its stake in shares of Steven Madden by 36.9% in the 4th quarter. First Trust Advisors LP now owns 2,002,228 shares of the textile maker’s stock valued at $85,135,000 after acquiring an additional 539,738 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Steven Madden by 8.6% in the 4th quarter. Invesco Ltd. now owns 1,745,456 shares of the textile maker’s stock valued at $74,217,000 after acquiring an additional 138,065 shares during the last quarter. Finally, Pacer Advisors Inc. acquired a new stake in shares of Steven Madden during the 4th quarter valued at $72,795,000. 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.