Steven Madden (NASDAQ:SHOO) Stock Price Down 4.8% - What's Next?

Steven Madden, Ltd. (NASDAQ:SHOO - Get Free Report) was down 4.8% on Wednesday . The stock traded as low as $24.56 and last traded at $24.71. Approximately 714,760 shares traded hands during trading, a decline of 33% from the average daily volume of 1,074,701 shares. The stock had previously closed at $25.96.

Analyst Ratings Changes

Several equities research analysts have weighed in on SHOO shares. Needham & Company LLC reissued a "hold" rating on shares of Steven Madden in a research note on Friday, May 2nd. Citigroup cut their target price on Steven Madden from $35.00 to $23.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. 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. UBS Group upped their target price on Steven Madden from $22.00 to $23.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Finally, Telsey Advisory Group reaffirmed a "market perform" rating and set a $24.00 target price on shares of Steven Madden in a research note on Wednesday, June 4th. Nine equities research analysts have rated the stock with a hold rating, According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $28.50.

Steven Madden Stock Performance

The company has a fifty day simple moving average of $23.16 and a two-hundred day simple moving average of $32.22. The firm has a market capitalization of $1.67 billion, a PE ratio of 9.80 and a beta of 1.12.

Steven Madden (NASDAQ:SHOO - Get Free Report) last posted its earnings results on Wednesday, May 7th. The textile maker reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.46 by $0.14. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. The company had revenue of $551.38 million during the quarter, compared to analyst estimates of $557.81 million. During the same quarter in the prior year, the business earned $0.65 earnings per share. Steven Madden's revenue was up .2% on a year-over-year basis. On average, equities 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 disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Monday, June 9th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 3.65%. Steven Madden's dividend payout ratio is presently 36.21%.

Institutional Trading of Steven Madden

Hedge funds and other institutional investors have recently made changes to their positions in the business. CX Institutional purchased a new stake in shares of Steven Madden during the 1st quarter valued at $32,000. Caitong International Asset Management Co. Ltd raised its stake in Steven Madden by 328.8% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 2,161 shares of the textile maker's stock worth $58,000 after acquiring an additional 1,657 shares during the last quarter. Quarry LP raised its stake in Steven Madden by 403.6% in the 4th quarter. Quarry LP now owns 1,385 shares of the textile maker's stock worth $59,000 after acquiring an additional 1,110 shares during the last quarter. CWM LLC raised its stake in Steven Madden by 231.0% in the 1st quarter. CWM LLC now owns 2,277 shares of the textile maker's stock worth $61,000 after acquiring an additional 1,589 shares during the last quarter. Finally, Covestor Ltd raised its stake in Steven Madden by 22.9% in the 1st quarter. Covestor Ltd now owns 4,906 shares of the textile maker's stock worth $130,000 after acquiring an additional 915 shares during the last quarter. 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.