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

Wolverine World Wide, Inc. (NYSE:WWW) announced a quarterly dividend on Wednesday, May 1st, Wall Street Journal reports. Stockholders of record on Monday, July 1st will be given a dividend of 0.10 per share by the textile maker on Thursday, August 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend is Monday, July 1st.

Wolverine World Wide has a dividend payout ratio of 33.1% meaning its dividend is sufficiently covered by earnings. 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 Stock Performance

WWW opened at $13.52 on Friday. Wolverine World Wide has a one year low of $7.21 and a one year high of $15.09. The business’s 50-day simple moving average is $12.76 and its 200-day simple moving average is $10.54. The company has a current ratio of 1.13, a quick ratio of 0.65 and a debt-to-equity ratio of 2.24.

Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings results on Wednesday, May 8th. The textile maker reported $0.05 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.05. The firm had revenue of $394.90 million for the quarter, compared to analysts’ expectations of $360.31 million. Wolverine World Wide had a positive return on equity of 0.53% and a negative net margin of 3.59%. Analysts forecast that Wolverine World Wide will post 0.8 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Telsey Advisory Group restated a “market perform” rating and issued a $10.00 price target on shares of Wolverine World Wide in a research report on Wednesday, May 8th. Seaport Res Ptn upgraded Wolverine World Wide from a “neutral” rating to a “buy” rating in a research report on Monday, May 6th. Robert W. Baird boosted their target price 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. Williams Trading upgraded Wolverine World Wide from a “hold” rating to a “buy” rating and boosted their target price for the stock from $11.00 to $16.00 in a research report on Thursday, May 9th. Finally, UBS Group boosted their target price on Wolverine World Wide from $11.00 to $13.00 and gave the stock a “neutral” rating in a research report on Thursday, May 9th. Nine investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Wolverine World Wide currently has a consensus rating of “Hold” and a consensus price target of $11.67.

Insider Transactions at Wolverine World Wide

In other news, insider Isabel Soriano sold 3,201 shares of the business’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 sale, the insider now owns 26,519 shares of the company’s stock, valued at approximately $368,348.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.28% 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 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.