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, 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 annualized dividend 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. Equities 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 Performance

Wolverine World Wide stock opened at $17.51 on Friday. 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 market cap of $1.40 billion, a P/E ratio of -18.83 and a beta of 1.76. Wolverine World Wide has a 1-year low of $7.21 and a 1-year high of $17.57. The firm has a 50-day moving average of $14.02 and a 200-day moving average of $12.68.

Wolverine World Wide (NYSE:WWW) last released its quarterly earnings data on Wednesday, August 7th. The textile maker reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.05. The business 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 business’s revenue was down 27.8% on a year-over-year basis. During the same quarter last year, the business posted $0.19 EPS. Sell-side analysts expect that Wolverine World Wide will post 0.85 EPS for the current year.

Analyst Ratings Changes

WWW has been the subject of several research analyst reports. Argus raised shares of Wolverine World Wide to a “hold” rating in a research note on Friday, August 16th. KeyCorp raised Wolverine World Wide from a “sector weight” rating to an “overweight” rating and set a $20.00 price objective on the stock in a research report on Thursday, August 8th. UBS Group raised Wolverine World Wide from a “neutral” rating to a “buy” rating and increased their target price for the stock from $13.00 to $20.00 in a research report on Friday, July 19th. Robert W. Baird lifted their price target on Wolverine World Wide from $13.00 to $15.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $18.00 price objective on shares of Wolverine World Wide in a report on Friday, August 23rd. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.17.

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.