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

Steven Madden, Ltd. (NASDAQ:SHOO) declared a quarterly dividend on Wednesday, May 1st, Zacks reports. Shareholders of record on Monday, June 10th will be paid 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 2.10%. The ex-dividend date of this dividend is Monday, June 10th.

Steven Madden has increased its dividend by an average of 77.6% annually over the last three years. Steven Madden has a dividend payout ratio of 28.2% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Up 1.6 %

Shares of SHOO traded up $0.65 during midday trading on Thursday, reaching $40.07. 49,009 shares of the company were exchanged, compared to its average volume of 790,279. The stock has a 50-day moving average price of $41.22 and a 200-day moving average price of $39.96. The company has a market cap of $2.94 billion, a price-to-earnings ratio of 17.49 and a beta of 1.15. Steven Madden has a 1-year low of $29.92 and a 1-year high of $45.63.

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

Insider Buying and Selling at Steven Madden

In other Steven Madden news, CEO Edward R. Rosenfeld sold 48,500 shares of Steven Madden stock in a transaction that occurred on 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 directly owns 697,038 shares in the company, valued at $28,920,106.62. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Peter Allan Davis sold 1,200 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $42.13, for a total transaction of $50,556.00. Following the completion of the transaction, the director now directly owns 5,751 shares in the company, valued at $242,289.63. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Edward R. Rosenfeld sold 48,500 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 697,038 shares of the company’s stock, valued at $28,920,106.62. The disclosure for this sale can be found here. Insiders sold a total of 59,346 shares of company stock worth $2,464,841 over the last ninety days. Company insiders own 2.08% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SHOO. Jefferies Financial Group reaffirmed a “hold” rating and set a $40.00 target price on shares of Steven Madden in a research report on Thursday, January 4th. StockNews.com raised Steven Madden from a “hold” rating to a “buy” rating in a report on Thursday, February 29th. Wedbush boosted their price objective on Steven Madden from $36.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday, February 7th. Citigroup boosted their price objective on Steven Madden from $41.00 to $43.00 and gave the company a “neutral” rating in a report on Thursday, February 29th. Finally, Piper Sandler started coverage on Steven Madden in a report on Wednesday, February 14th. They issued a “neutral” rating and a $45.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $41.38.

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.