Wolverine World Wide, Inc. (NYSE:WWW – Get Rating) declared a quarterly dividend on Thursday, August 4th, Wall Street Journal reports. Stockholders of record on Monday, October 3rd will be given a dividend of 0.10 per share by the textile maker on Tuesday, November 1st. This represents a $0.40 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend is Friday, September 30th.
Wolverine World Wide has a dividend payout ratio of 14.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Wolverine World Wide to earn $2.82 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 14.2%.
Wolverine World Wide Price Performance
NYSE:WWW opened at $22.92 on Friday. Wolverine World Wide has a one year low of $16.65 and a one year high of $38.07. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.61 and a current ratio of 1.11. The stock has a market cap of $1.85 billion, a PE ratio of 48.77 and a beta of 1.67. The stock has a 50 day moving average price of $21.26 and a 200 day moving average price of $22.27.
Analyst Upgrades and Downgrades
A number of equities research analysts recently issued reports on WWW shares. CL King reduced their target price on Wolverine World Wide from $42.00 to $29.00 in a research note on Thursday, May 12th. Stifel Nicolaus downgraded Wolverine World Wide from a “buy” rating to a “hold” rating and cut their price target for the company from $26.00 to $23.00 in a report on Wednesday, July 20th. Williams Capital restated a “downgrade” rating on shares of Wolverine World Wide in a report on Monday, July 25th. Piper Sandler restated an “overweight” rating and set a $30.00 price objective on shares of Wolverine World Wide in a report on Tuesday, July 26th. Finally, William Blair downgraded Wolverine World Wide to a “hold” rating and set a $24.00 price objective for the company. in a report on Monday, July 25th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Wolverine World Wide presently has an average rating of “Hold” and a consensus price target of $31.80.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of WWW. Citigroup Inc. boosted its position in shares of Wolverine World Wide by 0.8% during the 1st quarter. Citigroup Inc. now owns 70,841 shares of the textile maker’s stock valued at $1,599,000 after acquiring an additional 569 shares in the last quarter. Advisor Group Holdings Inc. raised its stake in shares of Wolverine World Wide by 6.7% during the first quarter. Advisor Group Holdings Inc. now owns 18,425 shares of the textile maker’s stock worth $415,000 after buying an additional 1,157 shares during the last quarter. Bank of Montreal Can raised its stake in shares of Wolverine World Wide by 6.2% during the first quarter. Bank of Montreal Can now owns 25,282 shares of the textile maker’s stock worth $595,000 after buying an additional 1,467 shares during the last quarter. Allianz Asset Management GmbH increased its stake in Wolverine World Wide by 17.1% in the first quarter. Allianz Asset Management GmbH now owns 12,874 shares of the textile maker’s stock valued at $290,000 after purchasing an additional 1,876 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in Wolverine World Wide by 19.3% in the first quarter. American Century Companies Inc. now owns 17,634 shares of the textile maker’s stock valued at $398,000 after purchasing an additional 2,856 shares in the last quarter. Institutional investors own 93.90% of the company’s stock.
Wolverine World Wide Company Profile
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. The company operates through two segments, Wolverine Michigan Group and Wolverine Boston Group.
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