Steven Madden (NASDAQ:SHOO) Shares Gap Up After Dividend Announcement

Steven Madden, Ltd. (NASDAQ:SHOO - Get Free Report) gapped up prior to trading on Monday following a dividend announcement from the company. The stock had previously closed at $24.75, but opened at $25.75. Steven Madden shares last traded at $25.98, with a volume of 104,823 shares traded.

The newly announced dividend which will be paid on Friday, June 20th. Shareholders of record on Monday, June 9th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date is Monday, June 9th. Steven Madden's dividend payout ratio is currently 36.21%.

Wall Street Analyst Weigh In

A number of analysts have commented on SHOO shares. Needham & Company LLC reissued a "hold" rating on shares of Steven Madden in a report on Friday, May 2nd. Loop Capital decreased their price objective on Steven Madden from $40.00 to $35.00 and set a "hold" rating for the company in a report on Thursday, February 27th. UBS Group upped their target price on Steven Madden from $22.00 to $23.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $24.00 target price on shares of Steven Madden in a report on Wednesday, June 4th. Finally, Citigroup reduced their target price on Steven Madden from $35.00 to $23.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Nine equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $28.50.

Steven Madden Price Performance

The firm has a fifty day moving average price of $23.10 and a 200-day moving average price of $32.37. The company has a market capitalization of $1.75 billion, a P/E ratio of 10.27 and a beta of 1.12.

Steven Madden (NASDAQ:SHOO - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The textile maker reported $0.60 EPS for the quarter, beating the consensus estimate of $0.46 by $0.14. The business had revenue of $551.38 million for the quarter, compared to the consensus estimate of $557.81 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. Steven Madden's revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.65 earnings per share. On average, research analysts forecast that Steven Madden, Ltd. will post 2.66 EPS for the current year.

Institutional Investors Weigh In On Steven Madden

Institutional investors have recently made changes to their positions in the stock. CX Institutional purchased a new stake in shares of Steven Madden during the first quarter worth $32,000. Caitong International Asset Management Co. Ltd lifted its position in shares of Steven Madden by 328.8% during the first quarter. Caitong International Asset Management Co. Ltd now owns 2,161 shares of the textile maker's stock worth $58,000 after acquiring an additional 1,657 shares in the last quarter. Quarry LP raised its position in shares of Steven Madden by 403.6% in the fourth quarter. Quarry LP now owns 1,385 shares of the textile maker's stock worth $59,000 after buying an additional 1,110 shares in the last quarter. CWM LLC raised its position in shares of Steven Madden by 231.0% in the first quarter. CWM LLC now owns 2,277 shares of the textile maker's stock worth $61,000 after buying an additional 1,589 shares in the last quarter. Finally, Covestor Ltd raised its position in shares of Steven Madden by 22.9% in the first quarter. Covestor Ltd now owns 4,906 shares of the textile maker's stock worth $130,000 after buying an additional 915 shares in the last quarter. Hedge funds and other institutional investors own 99.88% of the company's stock.

Steven Madden Company Profile

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.