Wolverine World Wide, Inc. Declares Quarterly Dividend of $0.10 (NYSE:WWW)
Wolverine World Wide, Inc. (NYSE:WWW) announced a quarterly dividend on Wednesday, April 29th, Zacks reports. Investors of record on Wednesday, July 1st will be given a dividend of 0.10 per share by the textile maker on Monday, August 3rd. This represents a $0.40 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend is Tuesday, June 30th.
Wolverine World Wide has increased its dividend by an average of 900.0% annually over the last three years and has raised its dividend annually for the last 2 consecutive years. Wolverine World Wide has a payout ratio of 30.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Wolverine World Wide to earn $1.97 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 20.3%.
WWW opened at $21.52 on Monday. The firm has a market cap of $1.75 billion, a price-to-earnings ratio of 18.39, a price-to-earnings-growth ratio of 1.69 and a beta of 1.72. Wolverine World Wide has a fifty-two week low of $12.19 and a fifty-two week high of $34.70. The company’s 50-day moving average price is $21.75 and its 200 day moving average price is $25.37. The company has a quick ratio of 0.76, a current ratio of 1.12 and a debt-to-equity ratio of 0.77.
Several equities research analysts have commented on the stock. ValuEngine upgraded shares of Wolverine World Wide from a “sell” rating to a “hold” rating in a research note on Friday, May 1st. Susquehanna Bancshares restated a “hold” rating and issued a $18.00 price target on shares of Wolverine World Wide in a research note on Wednesday, May 13th. Wedbush raised their price target on shares of Wolverine World Wide from $24.00 to $31.00 in a research note on Wednesday, June 10th. Pivotal Research restated a “hold” rating and issued a $26.00 price target on shares of Wolverine World Wide in a research note on Friday, June 19th. Finally, Telsey Advisory Group raised their price target on shares of Wolverine World Wide from $20.00 to $26.00 and gave the company a “market perform” rating in a research note on Tuesday, June 9th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $27.33.
In related news, VP Kyle Hanson sold 4,312 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $22.27, for a total transaction of $96,028.24. Following the completion of the sale, the vice president now directly owns 16,957 shares in the company, valued at $377,632.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Amy M. Klimek sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $26.04, for a total transaction of $130,200.00. Insiders sold 11,312 shares of company stock valued at $269,068 over the last quarter. Insiders own 4.88% of the company’s stock.
About Wolverine World Wide
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.
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