Steven Madden, Ltd. (SHOO) to Issue Quarterly Dividend of $0.21 on June 21st

Steven Madden, Ltd. (NASDAQ:SHOOGet Free Report) announced a quarterly dividend on Friday, June 7th, Zacks reports. Investors 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 yield of 1.89%. The ex-dividend date is Monday, June 10th.

Steven Madden has raised its dividend by an average of 77.6% annually over the last three years. Steven Madden has a payout ratio of 28.1% meaning its dividend is sufficiently covered by earnings. 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 1.7 %

Shares of Steven Madden stock opened at $44.53 on Friday. The company’s 50-day moving average price is $41.32 and its 200-day moving average price is $41.47. The company has a market cap of $3.27 billion, a price-to-earnings ratio of 18.40 and a beta of 1.12. Steven Madden has a 12-month low of $30.35 and a 12-month high of $45.91.

Steven Madden (NASDAQ:SHOOGet Free Report) last posted its earnings results on Wednesday, May 1st. The textile maker reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.09. The business had revenue of $552.38 million for the quarter, compared to analysts’ expectations of $525.04 million. Steven Madden had a net margin of 8.65% and a return on equity of 22.68%. The business’s revenue for the quarter was up 19.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.50 EPS. On average, sell-side analysts predict that Steven Madden will post 2.62 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SHOO. Telsey Advisory Group restated a “market perform” rating and set a $44.00 target price on shares of Steven Madden in a research report on Friday, April 26th. Piper Sandler assumed coverage on shares of Steven Madden in a research report on Wednesday, February 14th. They issued a “neutral” rating and a $45.00 price objective on the stock. Williams Trading reiterated a “hold” rating and set a $44.00 target price on shares of Steven Madden in a research report on Wednesday, February 21st. BTIG Research boosted their price target on shares of Steven Madden from $50.00 to $53.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, StockNews.com upgraded shares of Steven Madden from a “hold” rating to a “buy” rating in a research report on Thursday, February 29th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Steven Madden has a consensus rating of “Hold” and a consensus price target of $43.38.

View Our Latest Stock Analysis on SHOO

Insider Transactions at Steven Madden

In related news, Director Rose Peabody Lynch sold 1,600 shares of the stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $44.41, for a total transaction of $71,056.00. Following the transaction, the director now owns 21,303 shares of the company’s stock, valued at approximately $946,066.23. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Edward R. Rosenfeld sold 48,500 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were 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 in the company, valued at $28,920,106.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Rose Peabody Lynch sold 1,600 shares of the company’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $44.41, for a total transaction of $71,056.00. Following the sale, the director now owns 21,303 shares of the company’s stock, valued at $946,066.23. The disclosure for this sale can be found here. In the last ninety days, insiders sold 69,746 shares of company stock worth $2,934,441. 2.08% of the stock is currently owned by insiders.

Steven Madden Company Profile

(Get Free Report)

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.

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Dividend History for Steven Madden (NASDAQ:SHOO)

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