Steven Madden (NASDAQ:SHOO) Sets New 1-Year Low – Should You Sell?

Steven Madden, Ltd. (NASDAQ:SHOO) shares hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $35.50 and last traded at $36.15, with a volume of 216465 shares traded. The stock had previously closed at $37.89.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SHOO. Piper Sandler lowered their price target on Steven Madden from $45.00 to $40.00 and set a “neutral” rating for the company in a research note on Tuesday, February 4th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Steven Madden in a research note on Monday, February 3rd. Needham & Company LLC reissued a “hold” rating on shares of Steven Madden in a research report on Thursday, February 13th. StockNews.com cut shares of Steven Madden from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Finally, Citigroup reduced their target price on Steven Madden from $45.00 to $38.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Steven Madden presently has a consensus rating of “Hold” and a consensus target price of $43.20.

Steven Madden Trading Down 5.7 %

The stock has a market cap of $2.58 billion, a price-to-earnings ratio of 15.20 and a beta of 1.07. The company has a 50 day simple moving average of $40.62 and a 200-day simple moving average of $43.70.

Steven Madden (NASDAQ:SHOO) last announced its earnings results on Wednesday, February 26th. The textile maker reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. Equities analysts forecast that Steven Madden, Ltd. will post 2.66 earnings per share for the current fiscal year.

Steven Madden Dividend Announcement

The firm also recently announced 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. This represents a $0.84 annualized dividend and a yield of 2.35%. The ex-dividend date was Friday, December 13th. Steven Madden’s payout ratio is 35.74%.

Institutional Investors Weigh In On Steven Madden

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pacer Advisors Inc. acquired a new position in shares of Steven Madden during the 4th quarter worth about $72,795,000. First Trust Advisors LP boosted its position in Steven Madden by 36.9% during the fourth quarter. First Trust Advisors LP now owns 2,002,228 shares of the textile maker’s stock valued at $85,135,000 after purchasing an additional 539,738 shares during the last quarter. FMR LLC grew its stake in Steven Madden by 8,180.4% in the third quarter. FMR LLC now owns 535,081 shares of the textile maker’s stock valued at $26,214,000 after purchasing an additional 528,619 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Steven Madden during the 4th quarter worth approximately $13,652,000. Finally, Weiss Asset Management LP acquired a new position in shares of Steven Madden during the 3rd quarter worth approximately $12,558,000. 99.88% of the stock is currently owned by institutional investors and hedge funds.

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.