Wolverine World Wide, Inc. (NYSE:WWW) declared a quarterly dividend on Thursday, November 1st, RTT News reports. Investors of record on Wednesday, January 2nd will be paid a dividend of 0.08 per share by the textile maker on Friday, February 1st. This represents a $0.32 annualized dividend and a dividend yield of 0.89%.
Wolverine World Wide has a payout ratio of 15.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Wolverine World Wide to earn $2.34 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 13.7%.
Shares of Wolverine World Wide stock traded up $0.80 on Thursday, hitting $35.97. The company’s stock had a trading volume of 471,255 shares, compared to its average volume of 669,439. The company has a quick ratio of 1.86, a current ratio of 2.65 and a debt-to-equity ratio of 0.61. Wolverine World Wide has a 1 year low of $25.25 and a 1 year high of $39.77. The firm has a market cap of $3.40 billion, a PE ratio of 21.93, a P/E/G ratio of 1.68 and a beta of 1.02.
Wolverine World Wide (NYSE:WWW) last announced its quarterly earnings results on Wednesday, August 8th. The textile maker reported $0.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.08. Wolverine World Wide had a return on equity of 18.58% and a net margin of 2.83%. The firm had revenue of $566.90 million during the quarter, compared to analyst estimates of $569.24 million. During the same quarter in the previous year, the business earned $0.43 EPS. Wolverine World Wide’s revenue for the quarter was down 5.3% compared to the same quarter last year. On average, sell-side analysts expect that Wolverine World Wide will post 2.13 EPS for the current year.
Several equities analysts recently weighed in on the company. Robert W. Baird restated a “buy” rating and issued a $43.00 price target on shares of Wolverine World Wide in a research note on Friday, August 10th. DA Davidson set a $44.00 price target on Wolverine World Wide and gave the company a “buy” rating in a research note on Thursday, August 9th. ValuEngine upgraded Wolverine World Wide from a “hold” rating to a “buy” rating in a research note on Thursday, July 19th. Piper Jaffray Companies restated a “hold” rating and issued a $35.00 price target on shares of Wolverine World Wide in a research note on Thursday, August 9th. Finally, Buckingham Research lifted their price objective on Wolverine World Wide from $34.00 to $38.00 and gave the stock a “neutral” rating in a report on Thursday, August 16th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Wolverine World Wide presently has an average rating of “Buy” and a consensus price target of $39.75.
In related news, Director William K. Gerber sold 1,000 shares of Wolverine World Wide stock in a transaction dated Friday, August 10th. The stock was sold at an average price of $37.17, for a total value of $37,170.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Michael Jeppesen sold 49,151 shares of the business’s stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $37.77, for a total value of $1,856,433.27. Following the transaction, the insider now owns 156,470 shares in the company, valued at $5,909,871.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 69,527 shares of company stock worth $2,644,036. 5.81% of the stock is currently owned by insiders.
Wolverine World Wide Company Profile
Wolverine World Wide, Inc designs, manufactures, sources, markets, licenses, and distributes footwear, apparel, and accessories. The company operates through four segments: Wolverine Outdoor & Lifestyle Group, Wolverine Boston Group, Wolverine Heritage Group, and Wolverine Multi-Brand Group. It offers casual footwear and apparel; performance outdoor and athletic footwear and apparel; children's footwear; industrial work boots and apparel; and uniform shoes and boots.
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