Wolverine World Wide, Inc. (WWW) to Issue $0.06 Quarterly Dividend
Wolverine World Wide, Inc. (NYSE:WWW) declared a quarterly dividend on Thursday, November 2nd, RTT News reports. Stockholders of record on Tuesday, January 2nd will be paid a dividend of 0.06 per share by the textile maker on Thursday, February 1st. This represents a $0.24 annualized dividend and a dividend yield of 0.88%.
Wolverine World Wide has raised its dividend payment by an average of 4.6% per year over the last three years. Wolverine World Wide has a payout ratio of 14.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Wolverine World Wide to earn $1.85 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 13.0%.
Wolverine World Wide (NYSE:WWW) last issued its earnings results on Wednesday, August 9th. The textile maker reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.14. Wolverine World Wide had a net margin of 3.32% and a return on equity of 15.81%. The firm had revenue of $598.80 million for the quarter, compared to analyst estimates of $573.78 million. During the same quarter last year, the business posted $0.26 earnings per share. The company’s quarterly revenue was up 2.6% on a year-over-year basis.
WWW has been the topic of a number of recent research reports. BidaskClub lowered shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. ValuEngine lowered shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Piper Jaffray Companies set a $25.00 price target on shares of Wolverine World Wide and gave the stock a “hold” rating in a report on Wednesday, August 9th. Zacks Investment Research upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a report on Saturday, August 12th. Finally, Robert W. Baird reiterated a “buy” rating and set a $32.00 price target on shares of Wolverine World Wide in a report on Sunday, September 17th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. Wolverine World Wide has a consensus rating of “Hold” and a consensus target price of $25.06.
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Wolverine World Wide Company Profile
Wolverine World Wide, Inc is a designer, manufacturer and marketer of a range of casual footwear and apparel, outdoor and athletic footwear and apparel, children’s footwear, industrial work boots and apparel, and uniform shoes and boots. It operates in four segments: Wolverine Outdoor & Lifestyle Group, which offers Merrell footwear and apparel, Cat footwear, Hush Puppies footwear and apparel, and Chaco footwear; Wolverine Boston Group, which offers Sperry footwear and apparel, Saucony footwear and apparel, and Keds footwear and apparel; Wolverine Heritage Group, which offers Wolverine footwear and apparel, Bates uniform footwear, Harley-Davidson footwear and HyTest safety footwear, and Wolverine Multi-Brand Group, which offers Stride Rite footwear and apparel, and its multi-brand consumer-direct businesses.
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