Wolverine World Wide, Inc. (NYSE:WWW) declared a quarterly dividend on Wednesday, February 13th, Wall Street Journal reports. Stockholders of record on Monday, April 1st will be paid a dividend of 0.10 per share by the textile maker on Wednesday, May 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date is Friday, March 29th. This is an increase from Wolverine World Wide’s previous quarterly dividend of $0.08.
Wolverine World Wide has raised its dividend by an average of 7.7% per year over the last three years. Wolverine World Wide has a payout ratio of 18.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Wolverine World Wide to earn $2.53 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 15.8%.
Wolverine World Wide stock traded up $0.26 during mid-day trading on Monday, reaching $36.23. 282,700 shares of the company were exchanged, compared to its average volume of 678,551. Wolverine World Wide has a 12 month low of $28.64 and a 12 month high of $39.77. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.83 and a quick ratio of 1.16. The firm has a market cap of $3.21 billion, a PE ratio of 16.70, a price-to-earnings-growth ratio of 1.55 and a beta of 0.97.
In related news, Director Brenda J. Lauderback sold 6,668 shares of the business’s stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $35.80, for a total value of $238,714.40. Following the completion of the sale, the director now directly owns 21,308 shares of the company’s stock, valued at approximately $762,826.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael Jeppesen sold 38,441 shares of the business’s stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $35.72, for a total value of $1,373,112.52. Following the completion of the sale, the insider now directly owns 67,177 shares of the company’s stock, valued at $2,399,562.44. The disclosure for this sale can be found here. Insiders sold a total of 72,349 shares of company stock worth $2,589,072 over the last three months. 4.93% of the stock is owned by company insiders.
WWW has been the topic of several recent analyst reports. Wedbush reiterated an “outperform” rating and issued a $41.00 price target on shares of Wolverine World Wide in a research note on Thursday, February 7th. ValuEngine upgraded Wolverine World Wide from a “hold” rating to a “buy” rating in a research note on Friday, February 15th. Telsey Advisory Group reiterated a “market perform” rating and issued a $38.00 price target (up previously from $35.00) on shares of Wolverine World Wide in a research note on Tuesday, February 19th. Finally, Zacks Investment Research upgraded Wolverine World Wide from a “sell” rating to a “hold” rating in a research note on Saturday, February 9th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Wolverine World Wide currently has an average rating of “Buy” and a consensus price target of $40.36.
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About Wolverine World Wide
Wolverine World Wide, Inc designs, manufactures, sources, markets, licenses, and distributes footwear, apparel, and accessories. The company operates through three segments: Wolverine Outdoor & Lifestyle Group, Wolverine Boston Group, and Wolverine Heritage Group. It offers casual footwear and apparel; performance outdoor and athletic footwear and apparel; kids' footwear; industrial work boots and apparel; and uniform shoes and boots.
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