Steven Madden (NASDAQ:SHOO) Reaches New 1-Year Low on Analyst Downgrade

Shares of Steven Madden, Ltd. (NASDAQ:SHOO - Get Free Report) reached a new 52-week low during mid-day trading on Wednesday after Citigroup lowered their price target on the stock from $45.00 to $38.00. Citigroup currently has a neutral rating on the stock. Steven Madden traded as low as $36.88 and last traded at $37.43, with a volume of 34571 shares trading hands. The stock had previously closed at $37.29.

Several other research firms have also recently commented on SHOO. StockNews.com cut Steven Madden from a "buy" rating to a "hold" rating in a research report on Tuesday, January 14th. Piper Sandler reduced their price target on shares of Steven Madden from $45.00 to $40.00 and set a "neutral" rating for the company in a research note on Tuesday, February 4th. Telsey Advisory Group lowered their price objective on shares of Steven Madden from $50.00 to $44.00 and set a "market perform" rating on the stock in a research report on Tuesday, February 4th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Steven Madden in a research report on Thursday, December 5th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $43.33.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SHOO. Gladius Capital Management LP purchased a new stake in shares of Steven Madden in the 3rd quarter worth $36,000. Exchange Traded Concepts LLC purchased a new stake in Steven Madden in the third quarter worth about $59,000. R Squared Ltd bought a new position in shares of Steven Madden in the fourth quarter worth about $55,000. GAMMA Investing LLC lifted its position in shares of Steven Madden by 80.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,329 shares of the textile maker's stock valued at $65,000 after buying an additional 593 shares in the last quarter. Finally, Blue Trust Inc. grew its stake 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 valued at $79,000 after acquiring an additional 785 shares during the period. 99.88% of the stock is currently owned by institutional investors.

Steven Madden Stock Performance

The company has a market capitalization of $2.68 billion, a PE ratio of 15.83 and a beta of 1.07. The company's fifty day moving average is $41.98 and its 200-day moving average is $44.06.

Steven Madden (NASDAQ:SHOO - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The textile maker reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.89 by $0.02. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The firm had revenue of $624.68 million during the quarter, compared to analysts' expectations of $607.89 million. During the same period in the prior year, the company posted $0.88 earnings per share. The company's revenue for the quarter was up 13.0% compared to the same quarter last year. On average, sell-side analysts expect that Steven Madden, Ltd. will post 2.66 EPS for the current fiscal year.

Steven Madden Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders 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 dividend on an annualized basis and a yield of 2.26%. Steven Madden's dividend payout ratio is presently 35.74%.

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.