Steven Madden, Ltd. (SHOO) to Issue Quarterly Dividend of $0.20

Steven Madden, Ltd. (NASDAQ:SHOO) declared a quarterly dividend on Wednesday, August 1st, Wall Street Journal reports. Shareholders of record on Tuesday, September 18th will be given a dividend of 0.20 per share by the textile maker on Friday, September 28th. This represents a $0.80 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date is Monday, September 17th.

Steven Madden has a payout ratio of 29.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Steven Madden to earn $2.97 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 26.9%.

Steven Madden stock opened at $55.95 on Friday. The firm has a market cap of $3.29 billion, a price-to-earnings ratio of 24.98, a PEG ratio of 1.97 and a beta of 0.51. Steven Madden has a fifty-two week low of $37.25 and a fifty-two week high of $58.95.

Steven Madden (NASDAQ:SHOO) last released its earnings results on Tuesday, July 31st. The textile maker reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.02. The firm had revenue of $395.80 million during the quarter, compared to analyst estimates of $390.57 million. Steven Madden had a net margin of 8.17% and a return on equity of 17.01%. The business’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.51 EPS. equities analysts expect that Steven Madden will post 2.68 earnings per share for the current year.

SHOO has been the subject of a number of research analyst reports. BidaskClub raised shares of Steven Madden from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 14th. Macquarie began coverage on shares of Steven Madden in a research report on Wednesday, June 27th. They set an “outperform” rating for the company. Telsey Advisory Group upped their price objective on shares of Steven Madden from $55.00 to $61.00 and gave the company an “outperform” rating in a research report on Wednesday, June 6th. Zacks Investment Research raised shares of Steven Madden from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a research report on Thursday, June 21st. Finally, Buckingham Research upped their price objective on shares of Steven Madden from $54.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, August 16th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $54.58.

In related news, insider Karla Frieders sold 7,000 shares of the company’s stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $56.89, for a total value of $398,230.00. Following the sale, the insider now owns 75,280 shares of the company’s stock, valued at $4,282,679.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Awadhesh K. Sinha sold 4,000 shares of the company’s stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $57.50, for a total transaction of $230,000.00. Following the completion of the sale, the chief operating officer now directly owns 57,845 shares in the company, valued at approximately $3,326,087.50. The disclosure for this sale can be found here. 1.77% of the stock is currently owned by corporate insiders.

Steven Madden Company Profile

Steven Madden, Ltd. designs, sources, markets, and sells fashion-forward name brand and private label footwear for women, men, and children worldwide. Its Wholesale Footwear segment provides footwear under the Steve Madden Women's, Madden Girl, Steve Madden Men's, Madden, Madden NYC, Dolce Vita, DV by Dolce Vita, Mad Love, Steven by Steve Madden, Report, Superga, Betsey Johnson, Betseyville, Steve Madden Kids, FREEBIRD by Steven, Stevies, B Brian Atwood, Blondo, Kate Spade, and Avec Les Filles brands, as well as private label footwear.

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