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

Wolverine World Wide, Inc. (NYSE:WWW) announced a quarterly dividend on Wednesday, October 30th, RTT News reports. Shareholders of record on Thursday, January 2nd will be given a dividend of 0.10 per share by the textile maker on Monday, February 3rd. This represents a $0.40 annualized dividend and a yield of 2.55%.

Wolverine World Wide has a dividend payout ratio of 31.5% indicating that 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 Trading Up 0.1 %

Shares of Wolverine World Wide stock traded up $0.01 during trading hours on Wednesday, reaching $15.70. The stock had a trading volume of 847,336 shares, compared to its average volume of 1,092,485. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of -15.04 and a beta of 1.77. Wolverine World Wide has a 1 year low of $7.52 and a 1 year high of $18.51. The company has a current ratio of 1.19, a quick ratio of 0.74 and a debt-to-equity ratio of 2.14. The firm has a 50 day simple moving average of $15.37 and a two-hundred day simple moving average of $13.71.

Wolverine World Wide (NYSE:WWW) last posted its quarterly earnings results on Wednesday, August 7th. The textile maker reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.05. The business had revenue of $425.40 million for the quarter, compared to analyst estimates 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 business’s revenue was down 27.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.19 EPS. As a group, equities research analysts anticipate that Wolverine World Wide will post 0.85 earnings per share for the current year.

Insider Activity

In other Wolverine World Wide news, insider David A. Latchana sold 7,706 shares of Wolverine World Wide stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $17.02, for a total value of $131,156.12. Following the sale, the insider now owns 13,889 shares of the company’s stock, valued at $236,390.78. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 2.28% of the company’s stock.

Analyst Ratings Changes

WWW has been the subject of a number of analyst reports. Telsey Advisory Group restated a “market perform” rating and set a $14.00 price objective on shares of Wolverine World Wide in a report on Wednesday, August 7th. Robert W. Baird raised their price objective on Wolverine World Wide from $13.00 to $15.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Argus raised shares of Wolverine World Wide to a “hold” rating in a research note on Friday, August 16th. BNP Paribas upgraded Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 target price for the company in a research note on Thursday, October 3rd. Finally, Piper Sandler reiterated an “overweight” rating and issued a $18.00 price target on shares of Wolverine World Wide in a research note on Friday, August 23rd. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $17.86.

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.