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

Steven Madden, Ltd. (NASDAQ:SHOO) hit a new 52-week low on Tuesday . The company traded as low as $36.40 and last traded at $37.73, with a volume of 1042922 shares trading hands. The stock had previously closed at $37.19.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Piper Sandler lowered their target price on shares of Steven Madden from $45.00 to $40.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. StockNews.com downgraded shares of Steven Madden from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Telsey Advisory Group reduced their target price on shares of Steven Madden from $50.00 to $44.00 and set a “market perform” rating for the company in a report on Tuesday, February 4th. Citigroup lowered their price target on Steven Madden from $45.00 to $38.00 and set a “neutral” rating on the stock in a report on Tuesday, February 4th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Steven Madden in a research note on Thursday, February 6th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $43.33.

Steven Madden Price Performance

The stock’s 50-day moving average is $41.49 and its 200 day moving average is $43.95. The stock has a market cap of $2.72 billion, a price-to-earnings ratio of 16.01 and a beta of 1.07.

Steven Madden Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were issued a $0.21 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.84 annualized dividend and a dividend yield of 2.23%. Steven Madden’s dividend payout ratio is currently 35.74%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Pacer Advisors Inc. purchased a new stake in shares of Steven Madden during the 4th quarter worth $72,795,000. FMR LLC boosted its holdings in Steven Madden by 8,180.4% during the third 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. Raymond James Financial Inc. acquired a new position in Steven Madden during the fourth quarter worth about $13,652,000. Weiss Asset Management LP purchased a new position in Steven Madden in the third quarter valued at about $12,558,000. Finally, Norges Bank acquired a new stake in shares of Steven Madden during the 4th quarter valued at approximately $9,399,000. Hedge funds and other institutional investors own 99.88% of the company’s stock.

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.