Wolverine World Wide, Inc. (NYSE:WWW) Announces Quarterly Dividend of $0.10

Wolverine World Wide, Inc. (NYSE:WWW) announced a quarterly dividend on Wednesday, July 31st, Zacks reports. Shareholders of record on Tuesday, October 1st will be given a dividend of 0.10 per share by the textile maker on Friday, November 1st. This represents a $0.40 annualized dividend and a dividend yield of 2.98%. The ex-dividend date of this dividend is Tuesday, October 1st.

Wolverine World Wide has a dividend payout ratio of 32.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Wolverine World Wide to earn $1.24 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 32.3%.

Wolverine World Wide Trading Down 5.1 %

NYSE WWW traded down $0.72 during mid-day trading on Friday, reaching $13.43. 128,019 shares of the stock were exchanged, compared to its average volume of 1,006,173. The stock has a market capitalization of $1.07 billion, a PE ratio of -15.23 and a beta of 1.76. The company has a debt-to-equity ratio of 2.24, a quick ratio of 0.65 and a current ratio of 1.13. Wolverine World Wide has a 1-year low of $7.21 and a 1-year high of $15.23. The business’s fifty day simple moving average is $13.43 and its 200 day simple moving average is $11.29.

Wolverine World Wide (NYSE:WWW) last released its earnings results on Wednesday, May 8th. The textile maker reported $0.05 earnings per share for the quarter, hitting the consensus estimate of $0.05. The firm had revenue of $394.90 million for the quarter, compared to the consensus estimate of $360.31 million. Wolverine World Wide had a positive return on equity of 0.53% and a negative net margin of 3.59%. On average, research analysts anticipate that Wolverine World Wide will post 0.82 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Isabel Soriano sold 3,201 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $13.89, for a total transaction of $44,461.89. Following the completion of the transaction, the insider now directly owns 26,519 shares of the company’s stock, valued at $368,348.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.28% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

WWW has been the subject of a number of research reports. UBS Group raised Wolverine World Wide from a “neutral” rating to a “buy” rating and boosted their price target for the company from $13.00 to $20.00 in a research report on Friday, July 19th. Seaport Res Ptn upgraded shares of Wolverine World Wide from a “neutral” rating to a “buy” rating in a report on Monday, May 6th. Telsey Advisory Group reissued a “market perform” rating and issued a $14.00 price objective on shares of Wolverine World Wide in a research report on Thursday. Williams Trading upgraded Wolverine World Wide from a “hold” rating to a “buy” rating and increased their target price for the company from $11.00 to $16.00 in a research note on Thursday, May 9th. Finally, Robert W. Baird boosted their price target on Wolverine World Wide from $9.00 to $13.00 and gave the stock a “neutral” rating in a research report on Thursday, May 9th. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $12.89.

Wolverine World Wide Company Profile

Wolverine World Wide, Inc designs, manufactures, sources, markets, licenses, and distributes footwear, apparel, and accessories in the United States, Europe, the Middle East, Africa, the Asia Pacific, Canada and Latin America. It operates through Active Group and Work Group segments. The company offers casual footwear and apparel; performance outdoor and athletic footwear and apparel; kids' footwear; industrial work boots and apparel; and uniform shoes and boots.