Steven Madden (NASDAQ:SHOO) Reaches New 12-Month Low - Should You Sell?

Steven Madden, Ltd. (NASDAQ:SHOO - Get Free Report)'s stock price reached 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 traded. The stock had previously closed at $30.45.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on SHOO shares. Jefferies Financial Group reaffirmed a "hold" rating on shares of Steven Madden in a research note on Monday, February 3rd. Needham & Company LLC reaffirmed a "hold" rating on shares of Steven Madden in a research note on Thursday, February 27th. Telsey Advisory Group lowered their price objective on shares of Steven Madden from $44.00 to $38.00 and set a "market perform" rating on the stock in a research note on Thursday, February 27th. Citigroup lowered their price objective on shares of Steven Madden from $38.00 to $35.00 and set a "neutral" rating on the stock in a research note on Thursday, February 27th. Finally, Piper Sandler lowered their price objective on shares of 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 given a buy rating to the company's stock. Based on data from MarketBeat, Steven Madden has a consensus rating of "Hold" and a consensus price target of $40.33.

Steven Madden Trading Down 1.8 %

The company has a market capitalization of $2.09 billion, a price-to-earnings ratio of 12.29 and a beta of 1.06. The company's 50 day simple moving average is $38.78 and its 200-day simple moving average is $43.00.

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Steven Madden (NASDAQ:SHOO - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $582.32 million for the quarter, compared to analyst estimates of $550.37 million. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. Sell-side analysts anticipate that Steven Madden, Ltd. will post 2.66 EPS for the current year.

Steven Madden Announces Dividend

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 2.91%. Steven Madden's payout ratio is currently 35.74%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SHOO. Vanguard Group Inc. raised its holdings in Steven Madden by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 8,097,339 shares of the textile maker's stock valued at $344,299,000 after buying an additional 54,877 shares during the period. State Street Corp raised its holdings in Steven Madden by 1.7% in the third quarter. State Street Corp now owns 2,756,075 shares of the textile maker's stock valued at $135,020,000 after buying an additional 47,017 shares during the period. First Trust Advisors LP raised its holdings in Steven Madden by 36.9% in the fourth quarter. First Trust Advisors LP now owns 2,002,228 shares of the textile maker's stock valued at $85,135,000 after buying an additional 539,738 shares during the period. Invesco Ltd. raised its stake in shares of Steven Madden by 8.6% during the fourth quarter. Invesco Ltd. now owns 1,745,456 shares of the textile maker's stock valued at $74,217,000 after purchasing an additional 138,065 shares during the period. Finally, Pacer Advisors Inc. purchased a new stake in shares of Steven Madden during the fourth quarter valued at approximately $72,795,000. 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.