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

Wolverine World Wide, Inc. (NYSE:WWW) announced a quarterly dividend on Wednesday, October 30th, RTT News reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend is Thursday, January 2nd.

Wolverine World Wide has a dividend payout ratio of 31.5% 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 Price Performance

Shares of NYSE:WWW opened at $15.39 on Friday. 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 has a 52-week low of $7.52 and a 52-week high of $18.51. The business has a fifty day moving average of $15.49 and a two-hundred day moving average of $13.73.

Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings data on Wednesday, August 7th. The textile maker reported $0.15 EPS for the quarter, topping the consensus estimate of $0.10 by $0.05. Wolverine World Wide had a negative net margin of 4.42% and a negative return on equity of 0.34%. The firm had revenue of $425.40 million for the quarter, compared to analyst estimates of $411.20 million. During the same period in the prior year, the business posted $0.19 EPS. The business’s revenue for the quarter was down 27.8% compared to the same quarter last year. As a group, sell-side analysts predict that Wolverine World Wide will post 0.85 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Insider Buying and Selling at Wolverine World Wide

In other news, insider David A. Latchana sold 7,706 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $17.02, for a total transaction of $131,156.12. Following the completion of the sale, the insider now owns 13,889 shares in the company, valued at $236,390.78. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.28% of the stock is owned by company insiders.

About Wolverine World Wide

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.