Steven Madden (NASDAQ:SHOO) Shares Gap Down - Here's What Happened

Steven Madden, Ltd. (NASDAQ:SHOO - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $19.90, but opened at $19.22. Steven Madden shares last traded at $19.48, with a volume of 68,045 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SHOO. 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 report 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. Telsey Advisory Group cut their price objective on shares of Steven Madden from $44.00 to $38.00 and set a "market perform" rating on the stock in a research report on Thursday, February 27th. UBS Group lowered their target price on Steven Madden from $24.00 to $22.00 and set a "neutral" rating for the company in a report on Wednesday. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Steven Madden in a research report on Thursday, February 27th. Nine research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Steven Madden presently has an average rating of "Hold" and a consensus target price of $35.57.

Steven Madden Trading Down 1.7 %

The firm has a market cap of $1.51 billion, a P/E ratio of 8.85 and a beta of 0.98. The business has a 50-day moving average of $26.36 and a two-hundred day moving average of $37.25.

Steven Madden (NASDAQ:SHOO - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The textile maker reported $0.55 earnings per share for the quarter, topping 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 company had revenue of $582.32 million for the quarter, compared to analysts' expectations of $550.37 million. As a group, equities analysts expect that Steven Madden, Ltd. will post 2.66 EPS for the current year.

Steven Madden Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Monday, March 10th were given 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 dividend yield of 4.04%. Steven Madden's dividend payout ratio (DPR) is presently 35.74%.

Institutional Trading of Steven Madden

Several hedge funds have recently bought and sold shares of SHOO. Vanguard Group Inc. raised its holdings in shares of Steven Madden by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 8,097,339 shares of the textile maker's stock worth $344,299,000 after acquiring an additional 54,877 shares during the last quarter. First Trust Advisors LP increased its holdings in Steven Madden by 36.9% during the 4th quarter. First Trust Advisors LP now owns 2,002,228 shares of the textile maker's stock worth $85,135,000 after purchasing an additional 539,738 shares in the last quarter. Invesco Ltd. raised its stake in shares of Steven Madden by 8.6% in the fourth quarter. Invesco Ltd. now owns 1,745,456 shares of the textile maker's stock worth $74,217,000 after purchasing an additional 138,065 shares during the last quarter. Pacer Advisors Inc. bought a new position in shares of Steven Madden in the fourth quarter valued at approximately $72,795,000. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Steven Madden by 29.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,455,381 shares of the textile maker's stock valued at $39,907,000 after buying an additional 332,689 shares during the last quarter. Institutional investors and hedge funds 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.