Steven Madden, Ltd. Declares Quarterly Dividend of $0.21 (NASDAQ:SHOO)

Steven Madden, Ltd. (NASDAQ:SHOO) announced a quarterly dividend on Wednesday, July 31st, Zacks reports. Shareholders of record on Friday, September 13th will be paid a dividend of 0.21 per share by the textile maker on Monday, September 23rd. This represents a $0.84 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend is Friday, September 13th.

Steven Madden has increased its dividend payment by an average of 77.6% annually over the last three years. Steven Madden has a payout ratio of 28.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Steven Madden to earn $2.92 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 28.8%.

Steven Madden Price Performance

Shares of NASDAQ:SHOO opened at $45.34 on Thursday. Steven Madden has a 12 month low of $30.35 and a 12 month high of $47.24. The firm has a market capitalization of $3.33 billion, a PE ratio of 18.74 and a beta of 1.09. The business has a 50-day moving average of $43.49 and a two-hundred day moving average of $42.27.

Steven Madden (NASDAQ:SHOO) last posted its earnings results on Wednesday, July 31st. The textile maker reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.06. Steven Madden had a return on equity of 22.68% and a net margin of 8.65%. The business had revenue of $523.60 million during the quarter, compared to analyst estimates of $515.15 million. During the same quarter last year, the firm earned $0.47 earnings per share. The company’s revenue for the quarter was up 17.6% compared to the same quarter last year. As a group, research analysts anticipate that Steven Madden will post 2.62 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on SHOO. BTIG Research increased their price target on Steven Madden from $50.00 to $53.00 and gave the company a “buy” rating in a report on Thursday, June 6th. Wedbush restated a “neutral” rating and set a $41.00 price objective on shares of Steven Madden in a research report on Friday, July 26th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $44.00 target price on shares of Steven Madden in a research note on Wednesday. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $43.38.

Insider Activity

In other Steven Madden news, insider Karla Frieders sold 10,000 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $44.91, for a total value of $449,100.00. Following the transaction, the insider now owns 86,658 shares in the company, valued at $3,891,810.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Steven Madden news, insider Karla Frieders sold 10,000 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $44.91, for a total value of $449,100.00. Following the transaction, the insider now owns 86,658 shares in the company, valued at $3,891,810.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter Migliorini sold 3,000 shares of the business’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $43.81, for a total value of $131,430.00. Following the completion of the sale, the director now directly owns 16,006 shares of the company’s stock, valued at approximately $701,222.86. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,600 shares of company stock worth $651,586. 2.08% of the stock is owned by corporate insiders.

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.