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

Wolverine World Wide, Inc. (NYSE:WWW) announced a quarterly dividend on Thursday, May 2nd, RTT News reports. Investors 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 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend is Friday, June 28th.

Wolverine World Wide has increased its dividend by an average of 7.7% per year over the last three years. Wolverine World Wide has a dividend payout ratio of 18.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Wolverine World Wide to earn $2.53 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 15.8%.

WWW traded down $0.24 during trading on Thursday, reaching $27.08. 215,728 shares of the company traded hands, compared to its average volume of 726,735. The company has a current ratio of 1.48, a quick ratio of 0.85 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $2.43 billion, a P/E ratio of 12.48, a P/E/G ratio of 1.19 and a beta of 1.10. Wolverine World Wide has a 12-month low of $26.54 and a 12-month high of $39.77. The business’s fifty day simple moving average is $27.61.

Wolverine World Wide (NYSE:WWW) last posted its earnings results on Thursday, May 9th. The textile maker reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.02. The firm had revenue of $523.40 million during the quarter, compared to the consensus estimate of $535.82 million. Wolverine World Wide had a return on equity of 20.97% and a net margin of 8.70%. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.50 EPS. On average, equities research analysts predict that Wolverine World Wide will post 2.3 earnings per share for the current year.

In related news, Director Jeffrey M. Boromisa purchased 10,000 shares of the firm’s stock in a transaction on Friday, May 31st. The stock was bought at an average cost of $27.92 per share, with a total value of $279,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.93% of the company’s stock.

Several research firms have recently weighed in on WWW. ValuEngine downgraded Wolverine World Wide from a “hold” rating to a “sell” rating in a research report on Monday, May 20th. DA Davidson set a $40.00 price target on Wolverine World Wide and gave the company a “buy” rating in a research note on Friday, May 10th. Zacks Investment Research lowered HANNOVER RUECK/S from a “hold” rating to a “sell” rating in a research note on Monday, April 22nd. Finally, Argus lowered Wolverine World Wide from a “buy” rating to a “hold” rating and set a $29.19 price target on the stock. in a research note on Friday, May 17th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $38.65.

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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Dividend History for Wolverine World Wide (NYSE:WWW)

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