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.
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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