Steven Madden (NASDAQ:SHOO) Trading Down 16% – Should You Sell?

Steven Madden, Ltd. (NASDAQ:SHOO) shares dropped 16% during mid-day trading on Thursday . The stock traded as low as $24.84 and last traded at $23.74. Approximately 352,254 shares traded 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.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SHOO. Telsey Advisory Group dropped their price target on shares of Steven Madden from $44.00 to $38.00 and set a “market perform” rating on the stock in a research note on Thursday, February 27th. Citigroup dropped their target price on shares of Steven Madden from $38.00 to $35.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. StockNews.com downgraded shares of Steven Madden from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Needham & Company LLC restated a “hold” rating on shares of Steven Madden in a report on Thursday, February 27th. Finally, Loop Capital cut their target price 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 company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $40.33.

Steven Madden Stock Performance

The stock has a market capitalization of $1.74 billion, a P/E ratio of 10.26 and a beta of 1.06. The firm has a fifty day moving average price of $32.66 and a two-hundred day moving average price of $40.49.

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 the consensus estimate of $550.37 million. On average, research analysts anticipate that Steven Madden, Ltd. will post 2.66 earnings per share for the current fiscal year.

Steven Madden Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.84 dividend on an annualized basis and a yield of 3.49%. Steven Madden’s dividend payout ratio is currently 35.74%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. R Squared Ltd bought a new position in Steven Madden in the 4th quarter worth $55,000. Quarry LP raised its stake in shares of Steven Madden by 403.6% in the fourth quarter. Quarry LP now owns 1,385 shares of the textile maker’s stock worth $59,000 after buying an additional 1,110 shares during the period. Blue Trust Inc. lifted its position 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 valued at $83,000 after buying an additional 339 shares in the last quarter. KBC Group NV grew 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 valued at $128,000 after acquiring an additional 805 shares during the period. Finally, Smartleaf Asset Management LLC increased its holdings in Steven Madden by 21.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,171 shares of the textile maker’s stock worth $176,000 after acquiring an additional 741 shares in the last quarter. Hedge funds and other institutional investors own 99.88% of the company’s stock.

Steven Madden Company Profile

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.