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Wolverine World Wide Declared Dividend of $0.06 per Share

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Jul. 15 2016, Published 7:13 p.m. ET

Price movement

Wolverine World Wide (WWW) has a market cap of $2.2 billion. It fell by 0.48% to close at $22.81 per share on July 14, 2016. The stock’s weekly, monthly, and year-to-date (or YTD) price movements were 6.7%, 19.0%, and 37.4%, respectively, on the same day.

WWW is trading 10.7% above its 20-day moving average, 18.6% above its 50-day moving average, and 24.2% above its 200-day moving average.

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Related ETF and peers

The iShares Russell 2000 Growth ETF (IWO) invests 0.24% of its holdings in WWW. This ETF tracks a market-cap-weighted index of US small-cap growth stocks. The index selects from stocks ranked 1,001–3,000 by market cap based on two growth factors. The YTD price movement of IWO was 2.9% on July 14.

The market caps of WWW’s competitors are as follows:

  • Skechers USA (SKX) — $4.9 billion
  • Deckers Outdoor Corporation (DECK) — $2.0 billion

Wolverine World Wide declared dividend

Wolverine World Wide has declared a quarterly cash dividend of $0.06 per share on its common stock. The dividend will be paid on November 1, 2016, to shareholders of record on October 3, 2016.

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Wolverine World Wide’s rating and performance in fiscal 1Q16

Susquehanna has upgraded Wolverine World Wide rating to “positive” from “neutral” and also set the price target at $25.00 per share. TheStreet Ratings rated the stock as a “buy” with a score of B-.

Wolverine World Wide reported fiscal 1Q16 revenue of $577.6 million, a fall of 8.5% over its revenues of $631.4 million in fiscal 1Q15. The company’s gross profit margin and operating profit fell by 4.3% and 46.5%, respectively, in fiscal 1Q16 over fiscal 1Q15.

Net income and EPS

Wolverine World Wide’s (WWW) net income and EPS (earnings per share) fell to $17.4 million and $0.18, respectively, in fiscal 1Q16 compared to $40.1 million and $0.39, respectively, in fiscal 1Q15. It reported adjusted EPS of $0.29 in fiscal 1Q16, a fall of 21.6% compared to fiscal 1Q15.

WWW’s cash, cash equivalents, and inventories rose by 30.4% and 14.5%, respectively, in fiscal 1Q16 over fiscal 1Q15. Its current ratio and debt-to-equity ratio fell to 3.1x and 1.47x, respectively, in fiscal 1Q16, as compared to 3.4x and 1.50x, respectively, in fiscal 1Q15.

Projection

Wolverine World Wide has made the following projections for fiscal 2016:

  • The company expects consolidated reported revenue in the range of ~$2.48 billion to ~$2.58 billion.
  • It expects adjusted EPS in the range of $1.30–$1.40.
  • It expects adjusted EPS in the range of $1.48–$1.58 on a constant currency basis.

In the next part, we’ll discuss ConAgra Foods (CAG).

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