Citigroup Has Lowered Expectations for Steven Madden (NASDAQ:SHOO) Stock Price

Steven Madden (NASDAQ:SHOO - Free Report) had its price target reduced by Citigroup from $45.00 to $38.00 in a research report released on Tuesday,Benzinga reports. They currently have a neutral rating on the textile maker's stock.

A number of other research firms have also weighed in on SHOO. StockNews.com lowered shares of Steven Madden from a "buy" rating to a "hold" rating in a report on Tuesday, January 14th. Telsey Advisory Group dropped their target price on shares of Steven Madden from $50.00 to $44.00 and set a "market perform" rating on the stock in a report on Tuesday. Needham & Company LLC restated a "hold" rating on shares of Steven Madden in a research report on Thursday, December 5th. Finally, Piper Sandler cut their price target on Steven Madden from $45.00 to $40.00 and set a "neutral" rating on the stock in a report on Tuesday. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, Steven Madden presently has an average rating of "Hold" and a consensus target price of $43.33.

Steven Madden Stock Down 1.1 %

NASDAQ SHOO traded down $0.41 during mid-day trading on Tuesday, hitting $37.19. The stock had a trading volume of 945,378 shares, compared to its average volume of 656,428. Steven Madden has a 52-week low of $36.88 and a 52-week high of $50.01. The company has a 50 day simple moving average of $41.98 and a 200 day simple moving average of $44.06. The company has a market cap of $2.68 billion, a price-to-earnings ratio of 15.83 and a beta of 1.07.

Steven Madden (NASDAQ:SHOO - Get Free Report) last released its earnings results on Thursday, November 7th. The textile maker reported $0.91 EPS for the quarter, topping the consensus estimate of $0.89 by $0.02. The firm had revenue of $624.68 million during the quarter, compared to analysts' expectations of $607.89 million. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. Steven Madden's revenue for the quarter was up 13.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.88 EPS. As a group, equities analysts anticipate that Steven Madden will post 2.66 earnings per share for the current fiscal year.

Steven Madden Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were given a $0.21 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.26%. Steven Madden's dividend payout ratio (DPR) is 35.74%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company raised its position in Steven Madden by 1.2% during the second quarter. The Manufacturers Life Insurance Company now owns 40,141 shares of the textile maker's stock valued at $1,698,000 after buying an additional 484 shares during the period. Algert Global LLC acquired a new position in Steven Madden during the second quarter valued at approximately $299,000. Creative Planning grew 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 valued at $456,000 after buying an additional 4,752 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Steven Madden by 80.6% in the third 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. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of Steven Madden in the third quarter worth $59,000. 99.88% of the stock is currently owned by institutional investors and hedge funds.

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.