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

Steven Madden, Ltd. (NASDAQ:SHOO - Get Free Report)'s share price reached a new 52-week low during trading on Thursday . The company traded as low as $19.05 and last traded at $22.14, with a volume of 5188438 shares traded. The stock had previously closed at $20.04.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SHOO. Telsey Advisory Group reduced their target price on shares of Steven Madden from $44.00 to $38.00 and set a "market perform" rating on the stock in a report on Thursday, February 27th. Jefferies Financial Group reissued a "hold" rating on shares of Steven Madden in a research note on Monday, February 3rd. Loop Capital lowered their target price on shares of Steven Madden from $40.00 to $35.00 and set a "hold" rating for the company in a research note on Thursday, February 27th. StockNews.com downgraded Steven Madden from a "buy" rating to a "hold" rating in a report on Tuesday, January 14th. Finally, Piper Sandler decreased their price objective on Steven Madden from $35.00 to $25.00 and set a "neutral" rating on the stock in a report on Friday. Eight investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $37.83.

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Steven Madden Stock Performance

The stock's fifty day simple moving average is $29.65 and its two-hundred day simple moving average is $38.94. The company has a market cap of $1.49 billion, a price-to-earnings ratio of 8.72 and a beta of 0.98.

Steven Madden (NASDAQ:SHOO - Get Free Report) last issued 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 business had revenue of $582.32 million for the quarter, compared to analyst estimates of $550.37 million. Analysts predict that Steven Madden, Ltd. will post 2.66 EPS for the current fiscal year.

Steven Madden Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date of this dividend was Monday, March 10th. Steven Madden's payout ratio is currently 35.74%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of SHOO. R Squared Ltd acquired a new position in shares of Steven Madden during the fourth quarter worth about $55,000. Quarry LP raised its holdings in shares of Steven Madden by 403.6% during the 4th quarter. Quarry LP now owns 1,385 shares of the textile maker's stock valued at $59,000 after buying an additional 1,110 shares during the period. Blue Trust Inc. lifted its position in Steven Madden by 20.9% during the 4th quarter. Blue Trust Inc. now owns 1,958 shares of the textile maker's stock worth $83,000 after acquiring an additional 339 shares in the last quarter. KBC Group NV boosted its holdings in Steven Madden by 36.5% in the 4th quarter. KBC Group NV now owns 3,013 shares of the textile maker's stock worth $128,000 after acquiring an additional 805 shares during the period. Finally, Smartleaf Asset Management LLC grew its position in Steven Madden by 21.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,171 shares of the textile maker's stock valued at $176,000 after acquiring an additional 741 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.