Steven Madden, Ltd. (NASDAQ:SHOO - Get Free Report)'s stock price was down 16% on Thursday . The company traded as low as $24.84 and last traded at $23.74. Approximately 352,254 shares changed hands during mid-day trading, a decline of 56% from the average daily volume of 806,610 shares. The stock had previously closed at $28.28.
Analysts Set New Price Targets
A number of research analysts recently issued reports on the stock. Telsey Advisory Group decreased their price objective on shares of Steven Madden from $44.00 to $38.00 and set a "market perform" rating for the company in a report on Thursday, February 27th. Jefferies Financial Group reissued a "hold" rating on shares of Steven Madden in a report on Monday, February 3rd. Citigroup dropped their price objective on Steven Madden from $38.00 to $35.00 and set a "neutral" rating on the stock in a research note on Thursday, February 27th. Needham & Company LLC reissued a "hold" rating on shares of Steven Madden in a research note on Thursday, February 27th. Finally, Loop Capital lowered their price target on Steven Madden from $40.00 to $35.00 and set a "hold" rating for the company in a report on Thursday, February 27th. Eight equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $40.33.
Read Our Latest Research Report on SHOO
Steven Madden Stock Up 1.9 %
The stock's fifty day moving average price is $32.66 and its 200-day moving average price is $40.39. The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of 10.26 and a beta of 0.98.
Steven Madden (NASDAQ:SHOO - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The textile maker reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 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 $582.32 million for the quarter, compared to analyst estimates of $550.37 million. Analysts anticipate that Steven Madden, Ltd. will post 2.66 EPS for the current year.
Steven Madden Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Monday, March 10th were given a dividend of $0.21 per share. The ex-dividend date was Monday, March 10th. This represents a $0.84 annualized dividend and a yield of 3.49%. Steven Madden's dividend payout ratio (DPR) is presently 35.74%.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the stock. R Squared Ltd bought a new position in shares of Steven Madden in the fourth quarter valued at $55,000. Quarry LP grew its position in shares of Steven Madden by 403.6% in the 4th quarter. Quarry LP now owns 1,385 shares of the textile maker's stock valued at $59,000 after acquiring an additional 1,110 shares during the period. Blue Trust Inc. increased its stake in shares of 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 purchasing an additional 339 shares during the last quarter. KBC Group NV increased its stake in shares of Steven Madden by 36.5% during the 4th quarter. KBC Group NV now owns 3,013 shares of the textile maker's stock worth $128,000 after purchasing an additional 805 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in shares of Steven Madden by 21.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,171 shares of the textile maker's stock valued at $176,000 after purchasing an additional 741 shares during the period. Institutional investors and hedge funds own 99.88% of the company's stock.
Steven Madden Company Profile
(
Get Free Report)
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.
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