Wolverine World Wide (NYSE:WWW) Sets New 1-Year High at $15.45

Shares of Wolverine World Wide, Inc. (NYSE:WWW) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $15.45 and last traded at $15.45, with a volume of 719 shares trading hands. The stock had previously closed at $15.35.

Analysts Set New Price Targets

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

Wolverine World Wide Trading Up 0.4 %

The company has a debt-to-equity ratio of 2.14, a current ratio of 1.19 and a quick ratio of 0.74. The firm has a fifty day simple moving average of $13.69 and a two-hundred day simple moving average of $12.49. The firm has a market capitalization of $1.23 billion, a P/E ratio of -16.51 and a beta of 1.76.

Wolverine World Wide (NYSE:WWW) last announced its quarterly earnings data on Wednesday, August 7th. The textile maker reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.05. The company had revenue of $425.40 million during the quarter, compared to analyst estimates of $411.20 million. Wolverine World Wide had a negative return on equity of 0.34% and a negative net margin of 4.42%. The firm’s revenue for the quarter was down 27.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.19 EPS. On average, equities research analysts anticipate that Wolverine World Wide, Inc. will post 0.85 earnings per share for the current fiscal year.

Wolverine World Wide Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 1st will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.60%. The ex-dividend date is Tuesday, October 1st. Wolverine World Wide’s dividend payout ratio (DPR) is presently -43.01%.

Institutional Trading of Wolverine World Wide

A number of hedge funds and other institutional investors have recently made changes to their positions in WWW. GAMMA Investing LLC raised its position in shares of Wolverine World Wide by 42.5% in the first quarter. GAMMA Investing LLC now owns 4,504 shares of the textile maker’s stock worth $50,000 after buying an additional 1,343 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of Wolverine World Wide during the 2nd quarter valued at about $68,000. Central Pacific Bank Trust Division purchased a new position in shares of Wolverine World Wide during the first quarter worth about $81,000. Natixis bought a new position in shares of Wolverine World Wide in the first quarter worth approximately $112,000. Finally, Connable Office Inc. purchased a new stake in Wolverine World Wide in the fourth quarter valued at approximately $137,000. 90.25% of the stock is currently owned by institutional investors.

About Wolverine World Wide

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.