Wolverine World Wide, Inc. (NYSE:WWW) announced a quarterly dividend on Wednesday, July 29th, Zacks reports. Investors of record on Thursday, October 1st will be paid a dividend of 0.10 per share by the textile maker on Monday, November 2nd. This represents a $0.40 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend is Wednesday, September 30th.
Wolverine World Wide has raised its dividend payment by an average of 66.7% per year over the last three years and has increased its dividend every year for the last 2 years. Wolverine World Wide has a payout ratio of 30.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Wolverine World Wide to earn $1.98 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 20.2%.
Shares of Wolverine World Wide stock traded down $0.78 on Friday, hitting $23.85. 14,768 shares of the company’s stock traded hands, compared to its average volume of 416,312. Wolverine World Wide has a one year low of $12.19 and a one year high of $34.70. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.12 and a quick ratio of 0.76. The company has a fifty day moving average of $22.82 and a two-hundred day moving average of $23.50. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of 12.03, a price-to-earnings-growth ratio of 1.97 and a beta of 1.73.
A number of research analysts recently weighed in on the company. Zacks Investment Research raised Wolverine World Wide from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research note on Saturday, June 20th. Wedbush increased their price objective on Wolverine World Wide from $24.00 to $31.00 in a research note on Wednesday, June 10th. Stifel Nicolaus increased their price target on Wolverine World Wide from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Thursday, May 21st. ValuEngine upgraded Wolverine World Wide from a “sell” rating to a “hold” rating in a research report on Friday, May 1st. Finally, Pivotal Research upgraded Wolverine World Wide from a “hold” rating to a “buy” rating and raised their price target for the company from $26.00 to $31.00 in a research report on Monday. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $27.89.
In other news, VP Amy M. Klimek sold 5,000 shares of the stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $26.04, for a total value of $130,200.00. Also, Director William K. Gerber sold 2,000 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $21.42, for a total transaction of $42,840.00. Following the completion of the transaction, the director now owns 15,085 shares of the company’s stock, valued at approximately $323,120.70. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,312 shares of company stock valued at $269,068. Company insiders own 4.88% of the company’s stock.
Wolverine World Wide Company Profile
Wolverine World Wide, Inc designs, manufactures, sources, markets, licenses, and distributes footwear, apparel, and accessories. The company operates through three segments: Wolverine Outdoor & Lifestyle Group, Wolverine Boston Group, and Wolverine Heritage Group. It offers casual footwear and apparel; performance outdoor and athletic footwear and apparel; kids' footwear; industrial work boots and apparel; and uniform shoes and boots.
See Also: Ex-Dividend
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