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

Steven Madden, Ltd. (NASDAQ:SHOO) declared a quarterly dividend on Wednesday, May 1st, Zacks reports. Stockholders of record on Monday, June 10th will be given a dividend of 0.21 per share by the textile maker on Friday, June 21st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend is Monday, June 10th.

Steven Madden has raised its dividend payment by an average of 77.6% annually over the last three years. Steven Madden has a dividend payout ratio of 28.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Steven Madden to earn $2.88 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 29.2%.

Steven Madden Stock Up 2.1 %

SHOO stock traded up $0.81 during trading on Thursday, hitting $40.23. The company had a trading volume of 16,053 shares, compared to its average volume of 790,027. The firm has a 50-day moving average price of $41.22 and a 200-day moving average price of $39.96. Steven Madden has a 12 month low of $29.92 and a 12 month high of $45.63. The stock has a market cap of $2.95 billion, a price-to-earnings ratio of 17.14 and a beta of 1.15.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings data on Wednesday, February 28th. The textile maker reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.05. Steven Madden had a net margin of 8.67% and a return on equity of 21.61%. The firm had revenue of $519.71 million during the quarter, compared to analysts’ expectations of $511.96 million. During the same quarter in the previous year, the company posted $0.44 EPS. Steven Madden’s revenue was up 10.4% on a year-over-year basis. Equities analysts expect that Steven Madden will post 2.61 EPS for the current year.

Analysts Set New Price Targets

SHOO has been the subject of a number of analyst reports. Jefferies Financial Group reaffirmed a “hold” rating and set a $40.00 target price on shares of Steven Madden in a report on Thursday, January 4th. Wedbush lifted their target price on shares of Steven Madden from $36.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, February 7th. Piper Sandler began coverage on shares of Steven Madden in a report on Wednesday, February 14th. They set a “neutral” rating and a $45.00 target price for the company. Williams Trading reissued a “hold” rating and issued a $44.00 price target on shares of Steven Madden in a report on Wednesday, February 21st. Finally, StockNews.com raised shares of Steven Madden from a “hold” rating to a “buy” rating in a report on Thursday, February 29th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Steven Madden currently has an average rating of “Hold” and a consensus price target of $41.38.

Insider Activity at Steven Madden

In other news, CEO Edward R. Rosenfeld sold 48,500 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $41.49, for a total value of $2,012,265.00. Following the completion of the transaction, the chief executive officer now owns 697,038 shares in the company, valued at approximately $28,920,106.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Edward R. Rosenfeld sold 48,500 shares of Steven Madden stock in a transaction on Friday, March 15th. The stock was sold at an average price of $41.49, for a total transaction of $2,012,265.00. Following the completion of the sale, the chief executive officer now owns 697,038 shares of the company’s stock, valued at $28,920,106.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Zine Mazouzi sold 7,246 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $41.66, for a total value of $301,868.36. Following the completion of the transaction, the chief financial officer now directly owns 68,785 shares of the company’s stock, valued at approximately $2,865,583.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 59,346 shares of company stock valued at $2,464,841. 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.