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

Key Points

• Steven Madden declared a quarterly dividend of $0.21 per share, payable December 24 to shareholders of record December 11. The annualized dividend is $0.84, for a reported yield of 2.2%.
• The dividend appears well covered: the current payout ratio is 42.2%, and analysts expect next year’s earnings to imply a payout ratio of 31.2%.
• Quarterly EPS was $0.79, beating the $0.73 consensus, while revenue rose 15% year over year to $772.61 million—slightly below analyst estimates.

Steven Madden, Ltd. (NASDAQ:SHOO - Get Free Report) announced a quarterly dividend on Thursday, November 5th. Stockholders of record on Friday, December 11th will be paid a dividend of $0.21 per share by the textile maker on Thursday, December 24th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Friday, December 11th.

Steven Madden has raised its dividend by an average of 0.4% per year over the last three years. Steven Madden has a dividend payout ratio of 42.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Steven Madden to earn $2.69 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 31.2%.

Steven Madden Price Performance

Shares of SHOO traded down $7.99 during trading hours on Thursday, reaching $38.99. 5,236,973 shares of the company's stock traded hands, compared to its average volume of 1,222,337. Steven Madden has a 12 month low of $31.33 and a 12 month high of $49.70. The company has a current ratio of 1.91, a quick ratio of 1.13 and a debt-to-equity ratio of 0.13. The stock has a market cap of $2.85 billion, a PE ratio of 19.59 and a beta of 1.14. The firm's 50 day simple moving average is $43.92 and its 200-day simple moving average is $41.44.

Steven Madden (NASDAQ:SHOO - Get Free Report) last announced its earnings results on Thursday, November 5th. The textile maker reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.06. The business had revenue of $772.61 million during the quarter, compared to analyst estimates of $774.35 million. Steven Madden had a net margin of 5.23% and a return on equity of 13.85%. Steven Madden's revenue for the quarter was up 15.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.43 earnings per share. Equities analysts expect that Steven Madden will post 2.15 EPS for the current year.

Hedge Funds Weigh In On Steven Madden

Large investors have recently added to or reduced their stakes in the business. Fulcrum Asset Management LLP raised its holdings in Steven Madden by 29,828.6% during the 3rd quarter. Fulcrum Asset Management LLP now owns 33,520 shares of the textile maker's stock valued at $1,513,000 after buying an additional 33,408 shares during the last quarter. Alps Advisors Inc. bought a new stake in Steven Madden in the 3rd quarter worth $614,000. Vise Technologies Inc. bought a new stake in Steven Madden in the 3rd quarter worth $29,302,000. State of Wyoming purchased a new position in shares of Steven Madden in the third quarter valued at about $521,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Steven Madden in the third quarter valued at about $457,000. Hedge funds and other institutional investors own 99.88% of the company's stock.

Steven Madden Company Profile

Steven Madden, Ltd. is a fashion company that designs, sources, markets and sells footwear, handbags, accessories and apparel. Its products are offered under the Steve Madden brand and a portfolio of owned, licensed and distributed brands, including Dolce Vita, Betsey Johnson, Blondo, Mad Love and Greats.

The company sells its products through wholesale channels, including department stores, specialty retailers and online retailers, as well as through its own retail stores and e-commerce websites.

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