Steven Madden (NASDAQ:SHOO) Reaches New 12-Month Low - What's Next?

Steven Madden, Ltd. (NASDAQ:SHOO - Get Free Report) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $36.40 and last traded at $37.73, with a volume of 1042922 shares traded. The stock had previously closed at $37.19.

Analysts Set New Price Targets

Several research analysts recently weighed in on SHOO shares. Telsey Advisory Group dropped their target price on shares of Steven Madden from $50.00 to $44.00 and set a "market perform" rating for the company in a report on Tuesday, February 4th. StockNews.com lowered Steven Madden from a "buy" rating to a "hold" rating in a research note on Tuesday, January 14th. Needham & Company LLC reissued a "hold" rating on shares of Steven Madden in a research note on Thursday, February 6th. Citigroup dropped their price target on Steven Madden from $45.00 to $38.00 and set a "neutral" rating for the company in a research note on Tuesday, February 4th. Finally, Piper Sandler reduced 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 report on Tuesday, February 4th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $43.33.

Steven Madden Price Performance

The business has a 50-day moving average of $41.81 and a 200-day moving average of $44.04. The company has a market capitalization of $2.76 billion, a P/E ratio of 16.27 and a beta of 1.07.

Steven Madden Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were issued a dividend of $0.21 per share. The ex-dividend date was Friday, December 13th. This represents a $0.84 annualized dividend and a yield of 2.20%. Steven Madden's payout ratio is 35.74%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SHOO. Creative Planning increased its stake in Steven Madden by 78.7% in the 2nd quarter. Creative Planning now owns 10,791 shares of the textile maker's stock worth $456,000 after buying an additional 4,752 shares during the period. GAMMA Investing LLC increased its holdings in Steven Madden by 80.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,329 shares of the textile maker's stock worth $65,000 after purchasing an additional 593 shares during the period. Exchange Traded Concepts LLC bought a new stake in Steven Madden during the 3rd quarter valued at $59,000. nVerses Capital LLC lifted its holdings in shares of Steven Madden by 29.7% in the 3rd quarter. nVerses Capital LLC now owns 4,800 shares of the textile maker's stock worth $235,000 after buying an additional 1,100 shares during the period. Finally, Blue Trust Inc. grew its position in shares of Steven Madden by 94.1% during the 3rd quarter. Blue Trust Inc. now owns 1,619 shares of the textile maker's stock worth $79,000 after buying an additional 785 shares in the last quarter. Hedge funds and other institutional investors 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.