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

Steven Madden, Ltd. (NASDAQ:SHOO) declared a quarterly dividend on Wednesday, July 31st, Zacks reports. Stockholders of record on Friday, September 13th will be given a dividend of 0.21 per share by the textile maker on Monday, September 23rd. This represents a $0.84 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Friday, September 13th.

Steven Madden has raised 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. Equities 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 Trading Down 1.1 %

Shares of SHOO traded down $0.51 during trading hours on Thursday, hitting $44.83. The company had a trading volume of 20,988 shares, compared to its average volume of 734,094. The company has a market capitalization of $3.29 billion, a PE ratio of 18.74 and a beta of 1.09. Steven Madden has a one year low of $30.35 and a one year high of $47.24. The company’s fifty day moving average price is $43.49 and its two-hundred day moving average price is $42.27.

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

Analyst Upgrades and Downgrades

SHOO has been the topic of several research analyst reports. Telsey Advisory Group reiterated a “market perform” rating and set a $44.00 price target on shares of Steven Madden in a research note on Wednesday. Wedbush restated a “neutral” rating and issued a $41.00 target price on shares of Steven Madden in a research note on Friday, July 26th. Finally, BTIG Research upped their target price on Steven Madden from $50.00 to $53.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th. Six investment 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 $43.38.

Insiders Place Their Bets

In other Steven Madden news, insider Karla Frieders sold 10,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $44.91, for a total transaction 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Steven Madden news, Director Peter Migliorini sold 3,000 shares of the stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $43.81, for a total transaction of $131,430.00. Following the transaction, the director now owns 16,006 shares in the company, valued at $701,222.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Karla Frieders sold 10,000 shares of the stock in a transaction that occurred on 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 approximately $3,891,810.78. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,600 shares of company stock worth $651,586. 2.08% of the stock is owned by corporate insiders.

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.