Wolverine World Wide (NYSE:WWW) Reaches New 12-Month High at $15.28

Wolverine World Wide, Inc. (NYSE:WWW) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $15.28 and last traded at $15.18, with a volume of 161342 shares traded. The stock had previously closed at $14.97.

Analysts Set New Price Targets

Several analysts recently issued reports on WWW shares. Robert W. Baird increased their price target on shares of Wolverine World Wide from $13.00 to $15.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. KeyCorp raised shares of Wolverine World Wide from a “sector weight” rating to an “overweight” rating and set a $20.00 price objective for the company in a research note on Thursday, August 8th. UBS Group raised shares of Wolverine World Wide from a “neutral” rating to a “buy” rating and increased their price objective for the company from $13.00 to $20.00 in a research note on Friday, July 19th. Piper Sandler reissued an “overweight” rating and issued a $18.00 price objective on shares of Wolverine World Wide in a research note on Friday, August 23rd. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $14.00 price objective on shares of Wolverine World Wide in a research note on Wednesday, August 7th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $17.17.

Wolverine World Wide Price Performance

The company’s 50 day moving average price is $13.59 and its 200-day moving average price is $12.39. The stock has a market cap of $1.19 billion, a P/E ratio of -16.01 and a beta of 1.76. The company has a quick ratio of 0.74, a current ratio of 1.19 and a debt-to-equity ratio of 2.14.

Wolverine World Wide (NYSE:WWW) last posted its quarterly earnings results on Wednesday, August 7th. The textile maker reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.05. The business had revenue of $425.40 million during the quarter, compared to analysts’ expectations of $411.20 million. Wolverine World Wide had a negative net margin of 4.42% and a negative return on equity of 0.34%. The business’s quarterly revenue was down 27.8% on a year-over-year basis. During the same period last year, the company posted $0.19 earnings per share. As a group, sell-side analysts expect that Wolverine World Wide, Inc. will post 0.85 earnings per share for the current year.

Wolverine World Wide Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 1st will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend is Tuesday, October 1st. Wolverine World Wide’s dividend payout ratio is currently -43.01%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. grew its holdings in shares of Wolverine World Wide by 6.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,771,991 shares of the textile maker’s stock valued at $15,753,000 after buying an additional 103,368 shares during the last quarter. Capstone Investment Advisors LLC acquired a new position in shares of Wolverine World Wide during the first quarter valued at about $1,089,000. Manning & Napier Advisors LLC acquired a new position in shares of Wolverine World Wide during the second quarter valued at about $7,098,000. Intrinsic Edge Capital Management LLC acquired a new position in shares of Wolverine World Wide during the fourth quarter valued at about $2,563,000. Finally, SG Americas Securities LLC acquired a new position in shares of Wolverine World Wide during the second quarter valued at about $548,000. 90.25% of the stock is currently owned by institutional investors and hedge funds.

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. It operates through Active Group and Work Group segments. The company offers casual footwear and apparel; performance outdoor and athletic footwear and apparel; kids' footwear; industrial work boots and apparel; and uniform shoes and boots.