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

Key Points

• Steven Madden, Ltd. has declared a quarterly dividend of $0.21 per share, with the ex-dividend date set for September 12th.
• The company's quarterly earnings report showed a miss on EPS expectations, with reported earnings of $0.20 versus an estimated $0.24, alongside a revenue of $556.09 million.
• Analysts have varying price targets for the stock, with a consensus rating of "Hold" and an average target price of $30.83 despite recent adjustments.

Steven Madden, Ltd. (NASDAQ:SHOO - Get Free Report) announced a quarterly dividend on Thursday, July 31st, Wall Street Journal reports. Stockholders of record on Friday, September 12th will be given a dividend of 0.21 per share by the textile maker on Tuesday, September 23rd. This represents a c) dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Friday, September 12th.

Steven Madden has a payout ratio of 42.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Steven Madden to earn $2.81 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 29.9%.

Steven Madden Stock Up 3.5%

Shares of NASDAQ SHOO traded up $0.82 during midday trading on Monday, reaching $24.34. The company's stock had a trading volume of 340,385 shares, compared to its average volume of 1,557,982. The company has a current ratio of 2.01, a quick ratio of 1.13 and a debt-to-equity ratio of 0.33. Steven Madden has a fifty-two week low of $19.05 and a fifty-two week high of $50.01. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of 19.21 and a beta of 1.16. The stock has a 50 day simple moving average of $24.99 and a 200-day simple moving average of $27.68.

Steven Madden (NASDAQ:SHOO - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The textile maker reported $0.20 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.24 by ($0.04). The business had revenue of $556.09 million during the quarter, compared to analyst estimates of $575.83 million. Steven Madden had a net margin of 3.92% and a return on equity of 18.32%. Steven Madden's revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter last year, the business earned $0.57 earnings per share. Equities research analysts predict that Steven Madden will post 2.66 earnings per share for the current year.

Hedge Funds Weigh In On Steven Madden

Several institutional investors and hedge funds have recently modified their holdings of the business. American Century Companies Inc. lifted its holdings in shares of Steven Madden by 53.4% in the fourth quarter. American Century Companies Inc. now owns 74,779 shares of the textile maker's stock worth $3,180,000 after acquiring an additional 26,043 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Steven Madden by 26.4% during the fourth quarter. JPMorgan Chase & Co. now owns 584,068 shares of the textile maker's stock valued at $24,835,000 after acquiring an additional 121,972 shares during the last quarter. Norges Bank acquired a new position in shares of Steven Madden in the 4th quarter worth approximately $9,399,000. Pictet Asset Management Holding SA lifted its position in shares of Steven Madden by 17.9% in the 4th quarter. Pictet Asset Management Holding SA now owns 10,503 shares of the textile maker's stock worth $447,000 after purchasing an additional 1,594 shares during the period. Finally, ExodusPoint Capital Management LP acquired a new position in shares of Steven Madden in the 4th quarter worth approximately $5,726,000. 99.88% of the stock is currently owned by institutional investors and hedge funds.

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.