Wolverine Worldwide Declares a Dividend of $0.06 Per Share



Price movement

Wolverine Worldwide (WWW) rose 11.0% to close at $24.90 per share during the first week of December 2016. The stock’s weekly, monthly, and year-to-date (or YTD) price movements were 11.0%, 14.3%, and 50.4%, respectively, on December 9, 2016.

WWW is trading 4.7% above its 20-day moving average, 9.9% above its 50-day moving average, and 18.4% above its 200-day moving average.

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Related ETF and peers

The iShares Russell 2000 Growth ETF (IWO) invests 0.04% of its holdings in WWW. The YTD price movement of IWO was 14.4% on December 9.

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

  • Skechers (SKX) — $4.4 billion
  • Deckers Outdoor (DECK) — $2.0 billion

WWW declared a dividend

Wolverine Worldwide has declared a quarterly cash dividend of $0.06 per share on its common stock. The dividend will be paid on February 1, 2017, to shareholders of record on January 2, 2017.

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Performance of Wolverine Worldwide in 3Q16

Wolverine Worldwide reported 3Q16 revenue of $603.7 million, a fall of 11.1% compared to revenue of $678.9 million in 3Q15. The company’s gross profit margin narrowed 70 basis points, and its operating margin expanded 20 basis points in 3Q16, compared to the prior year’s period.

Its net income and EPS (earnings per share) rose to $48.2 million and $0.49, respectively, in 3Q16, compared to $45.8 million and $0.44, respectively, in 3Q15.

WWW’s cash and cash equivalents rose 170.3%, and its inventories fell 7.6% in 3Q16 compared to 3Q15. Its current ratio fell to 1.8x in 3Q16, compared to 3.1x in 3Q15.


WWW has made the following projections for 2016:

  • consolidated reported revenue in the range of $2.5 billion–$2.6 billion
  • adjusted EPS in the range of $1.30-$1.40 and $1.48-$1.58 on a constant currency basis

In the next and final part of this series, we’ll discuss Greif (GEF).


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