Steven Madden, Ltd. (NASDAQ:SHOO) Declares $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 given a dividend of 0.21 per share by the textile maker on Friday, June 21st. This represents a $0.84 annualized dividend and a yield of 2.09%. The ex-dividend date is Monday, June 10th.

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 28.2% meaning its dividend is sufficiently covered by earnings. 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 Price Performance

Shares of NASDAQ SHOO traded up $0.81 during midday trading on Thursday, reaching $40.23. 16,053 shares of the stock traded hands, compared to its average volume of 790,027. The company’s 50 day moving average is $41.22 and its 200 day moving average is $39.96. Steven Madden has a one year low of $29.92 and a one year high of $45.63. The stock has a market capitalization of $2.95 billion, a PE ratio of 17.14 and a beta of 1.15.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings results on Wednesday, February 28th. The textile maker reported $0.61 EPS for the quarter, beating the consensus estimate of $0.56 by $0.05. Steven Madden had a return on equity of 21.61% and a net margin of 8.67%. The firm had revenue of $519.71 million for the quarter, compared to analyst estimates of $511.96 million. During the same quarter last year, the firm posted $0.44 earnings per share. The business’s revenue for the quarter was up 10.4% on a year-over-year basis. As a group, equities analysts forecast that Steven Madden will post 2.61 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Lisa Keith sold 2,400 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $41.73, for a total value of $100,152.00. Following the transaction, the executive vice president now owns 20,687 shares of the company’s stock, valued at approximately $863,268.51. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Peter Allan Davis sold 1,200 shares of the business’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $42.13, for a total value of $50,556.00. Following the sale, the director now owns 5,751 shares in the company, valued at approximately $242,289.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Lisa Keith sold 2,400 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $41.73, for a total value of $100,152.00. Following the completion of the sale, the executive vice president now owns 20,687 shares in the company, valued at approximately $863,268.51. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 59,346 shares of company stock valued at $2,464,841. Insiders own 2.08% of the company’s stock.

Wall Street Analysts Forecast Growth

SHOO has been the subject of several research analyst reports. Williams Trading restated a “hold” rating and issued a $44.00 price objective on shares of Steven Madden in a research note on Wednesday, February 21st. Jefferies Financial Group restated a “hold” rating and issued a $40.00 price objective on shares of Steven Madden in a research report on Thursday, January 4th. Citigroup boosted their price objective on Steven Madden from $41.00 to $43.00 and gave the company a “neutral” rating in a research report on Thursday, February 29th. StockNews.com upgraded Steven Madden from a “hold” rating to a “buy” rating in a research report on Thursday, February 29th. Finally, Wedbush boosted their price objective on Steven Madden from $36.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, February 7th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Steven Madden has an average rating of “Hold” and an average target price of $41.38.

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.