Ermenegildo Zegna N.V. (NYSE:ZGN) to Issue Annual Dividend of $0.12

Ermenegildo Zegna N.V. (NYSE:ZGN) declared an annual dividend on Thursday, April 30th. Stockholders of record on Monday, July 6th will be paid a dividend of 0.12 per share on Wednesday, July 29th. This represents a dividend yield of 99.0%. The ex-dividend date of this dividend is Monday, July 6th.

Ermenegildo Zegna has a payout ratio of 24.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Ermenegildo Zegna to earn $0.60 per share next year, which means the company should continue to be able to cover its $0.12 annual dividend with an expected future payout ratio of 20.0%.

Ermenegildo Zegna Price Performance

NYSE ZGN traded up $0.31 during trading hours on Friday, reaching $12.43. The company had a trading volume of 719,570 shares, compared to its average volume of 745,869. The stock has a 50-day moving average of $10.91 and a 200 day moving average of $10.48. Ermenegildo Zegna has a 1-year low of $7.61 and a 1-year high of $12.58. The company has a current ratio of 1.59, a quick ratio of 0.91 and a debt-to-equity ratio of 0.15.

Ermenegildo Zegna (NYSE:ZGN) last posted its earnings results on Friday, March 20th. The company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.11). The business had revenue of $577.83 million for the quarter, compared to the consensus estimate of $1.17 billion. Analysts expect that Ermenegildo Zegna will post 0.46 earnings per share for the current year.

Institutional Trading of Ermenegildo Zegna

Several hedge funds have recently made changes to their positions in ZGN. Millennium Management LLC lifted its position in shares of Ermenegildo Zegna by 182.8% during the first quarter. Millennium Management LLC now owns 1,149,055 shares of the company’s stock worth $8,503,000 after purchasing an additional 742,680 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Ermenegildo Zegna by 22.7% during the first quarter. Goldman Sachs Group Inc. now owns 134,503 shares of the company’s stock worth $995,000 after purchasing an additional 24,862 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Ermenegildo Zegna during the first quarter worth about $1,161,000. Geode Capital Management LLC acquired a new stake in shares of Ermenegildo Zegna during the second quarter worth about $6,245,000. Finally, JPMorgan Chase & Co. lifted its position in shares of Ermenegildo Zegna by 59,691.8% during the second quarter. JPMorgan Chase & Co. now owns 29,298 shares of the company’s stock worth $250,000 after purchasing an additional 29,249 shares in the last quarter. Institutional investors and hedge funds own 12.91% of the company’s stock.

About Ermenegildo Zegna

Ermenegildo Zegna is a global luxury fashion house specializing in men’s tailored clothing, casualwear, accessories, footwear and fragrances. With a focus on high-quality fabrics and craftsmanship, the company manages the entire value chain from wool sourcing and textile production to garment design, manufacturing and retail distribution.

Founded in 1910 by Ermenegildo Zegna in Trivero, Italy, the company began as a textile mill dedicated to producing fine wool fabrics. Over the decades it expanded into ready-to-wear clothing and built a reputation for sartorial excellence.