Steven Madden (NASDAQ:SHOO) Shares Down 1.8% – What’s Next?

Steven Madden, Ltd. (NASDAQ:SHOO)’s share price was down 1.8% during mid-day trading on Friday . The company traded as low as $25.06 and last traded at $25.23. Approximately 410,282 shares were traded during trading, a decline of 45% from the average daily volume of 741,883 shares. The stock had previously closed at $25.68.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SHOO. Needham & Company LLC reiterated a “hold” rating on shares of Steven Madden in a research note on Thursday, February 27th. Piper Sandler decreased 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. Citigroup cut their price objective on shares of Steven Madden from $38.00 to $35.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Telsey Advisory Group decreased their target price on Steven Madden from $44.00 to $38.00 and set a “market perform” rating for the company in a research report on Thursday, February 27th. Finally, Loop Capital dropped their price target on Steven Madden from $40.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday, February 27th. Eight research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $40.33.

Steven Madden Trading Down 1.5 %

The company’s 50-day moving average is $37.18 and its two-hundred day moving average is $42.36. The firm has a market cap of $1.83 billion, a P/E ratio of 10.77 and a beta of 1.06.

Steven Madden (NASDAQ:SHOO) last posted its earnings results on Wednesday, February 26th. The textile maker reported $0.55 earnings per share 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%. The company had revenue of $582.32 million for the quarter, compared to analyst estimates of $550.37 million. Research analysts anticipate that Steven Madden, Ltd. will post 2.66 EPS for the current fiscal year.

Steven Madden Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Monday, March 10th will be issued a $0.21 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.84 annualized dividend and a dividend yield of 3.32%. Steven Madden’s dividend payout ratio is currently 35.74%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC lifted its position in shares of Steven Madden by 8,180.4% during the 3rd quarter. FMR LLC now owns 535,081 shares of the textile maker’s stock worth $26,214,000 after buying an additional 528,619 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Steven Madden by 3.0% during the third quarter. Geode Capital Management LLC now owns 1,710,492 shares of the textile maker’s stock worth $83,812,000 after acquiring an additional 49,075 shares during the period. Principal Financial Group Inc. boosted its position in Steven Madden by 3.1% in the fourth quarter. Principal Financial Group Inc. now owns 381,196 shares of the textile maker’s stock worth $16,208,000 after purchasing an additional 11,602 shares during the last quarter. Fisher Asset Management LLC grew its stake in Steven Madden by 2.4% in the 4th quarter. Fisher Asset Management LLC now owns 745,798 shares of the textile maker’s stock valued at $31,711,000 after purchasing an additional 17,124 shares during the period. Finally, Landscape Capital Management L.L.C. purchased a new stake in shares of Steven Madden during the 3rd quarter valued at $2,614,000. 99.88% of the stock is currently owned by hedge funds and other institutional investors.

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.