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

Wolverine World Wide, Inc. (NYSE:WWW) declared a quarterly dividend on Wednesday, July 31st, Zacks reports. Shareholders of record on Tuesday, October 1st will be paid a dividend of 0.10 per share by the textile maker on Friday, November 1st. This represents a $0.40 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date is Tuesday, October 1st.

Wolverine World Wide has a dividend payout ratio of 31.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Wolverine World Wide to earn $1.28 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 31.3%.

Wolverine World Wide Stock Up 1.9 %

Shares of WWW stock opened at $17.51 on Monday. The firm’s 50 day moving average is $14.02 and its 200 day moving average is $12.70. Wolverine World Wide has a 12 month low of $7.21 and a 12 month high of $17.57. The company has a debt-to-equity ratio of 2.14, a quick ratio of 0.74 and a current ratio of 1.19.

Wolverine World Wide (NYSE:WWW) last announced its quarterly earnings results on Wednesday, August 7th. The textile maker reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.05. The company had revenue of $425.40 million during the quarter, compared to analysts’ expectations of $411.20 million. Wolverine World Wide had a negative return on equity of 0.34% and a negative net margin of 4.42%. The firm’s quarterly revenue was down 27.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.19 earnings per share. As a group, research analysts expect that Wolverine World Wide will post 0.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

WWW has been the subject of a number of analyst reports. Argus upgraded shares of Wolverine World Wide to a “hold” rating in a research report on Friday, August 16th. KeyCorp upgraded shares of Wolverine World Wide from a “sector weight” rating to an “overweight” rating and set a $20.00 target price on the stock in a research note on Thursday, August 8th. Robert W. Baird boosted their price target on shares of Wolverine World Wide from $13.00 to $15.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Telsey Advisory Group reiterated a “market perform” rating and issued a $14.00 price objective on shares of Wolverine World Wide in a research report on Wednesday, August 7th. Finally, UBS Group raised Wolverine World Wide from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $13.00 to $20.00 in a research note on Friday, July 19th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Wolverine World Wide presently has an average rating of “Moderate Buy” and an average price target of $17.17.

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.