Steven Madden (NASDAQ:SHOO) Shares Down 16% – Time to Sell?

Steven Madden, Ltd. (NASDAQ:SHOO)’s stock 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 traded 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

Several equities analysts have recently issued reports on SHOO shares. Telsey Advisory Group lowered their target price on shares of Steven Madden from $44.00 to $38.00 and set a “market perform” rating for the company in a report on Thursday, February 27th. StockNews.com lowered Steven Madden from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of Steven Madden in a report on Thursday, February 27th. Jefferies Financial Group reiterated a “hold” rating on shares of Steven Madden in a report on Monday, February 3rd. Finally, Piper Sandler lowered their price objective on Steven Madden from $45.00 to $40.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. 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, the company currently has a consensus rating of “Hold” and an average price target of $40.33.

Steven Madden Stock Performance

The business’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 quarterly 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. The company had revenue of $582.32 million for the quarter, compared to analysts’ expectations of $550.37 million. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. Sell-side analysts expect that Steven Madden, Ltd. will post 2.66 earnings per share for the current fiscal year.

Steven Madden Announces Dividend

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

Institutional Trading of Steven Madden

Institutional investors and hedge funds have recently made changes to their positions in the company. PharVision Advisers LLC bought a new position in Steven Madden in the fourth quarter worth approximately $226,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Steven Madden by 12.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 191,667 shares of the textile maker’s stock valued at $8,150,000 after purchasing an additional 21,270 shares during the last quarter. iSAM Funds UK Ltd acquired a new stake in shares of Steven Madden in the 4th quarter worth $350,000. Vident Advisory LLC grew its stake in Steven Madden by 4.6% during the 4th quarter. Vident Advisory LLC now owns 17,267 shares of the textile maker’s stock worth $734,000 after buying an additional 756 shares during the last quarter. Finally, Two Sigma Advisers LP increased its position in Steven Madden by 24.7% during the 4th quarter. Two Sigma Advisers LP now owns 96,400 shares of the textile maker’s stock valued at $4,099,000 after buying an additional 19,100 shares in the last quarter. 99.88% of the stock is currently owned by 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.