Shares of Wolverine World Wide, Inc. (NYSE:WWW) reached a new 52-week high and low during mid-day trading on Thursday . The company traded as low as $36.34 and last traded at $36.20, with a volume of 50015 shares. The stock had previously closed at $35.99.
A number of analysts recently issued reports on WWW shares. Zacks Investment Research raised Wolverine World Wide from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a research note on Thursday, February 15th. TheStreet raised shares of Wolverine World Wide from a “c” rating to a “b-” rating in a research note on Thursday, May 10th. ValuEngine raised shares of Wolverine World Wide from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. DA Davidson raised shares of Wolverine World Wide from a “neutral” rating to a “buy” rating and set a $36.00 price target for the company in a research note on Thursday, February 22nd. Finally, Pivotal Research set a $33.00 price target on shares of Wolverine World Wide and gave the stock a “hold” rating in a research note on Wednesday, May 2nd. Eleven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $32.77.
The company has a market capitalization of $3.38 billion, a price-to-earnings ratio of 22.10, a P/E/G ratio of 1.72 and a beta of 0.97. The company has a current ratio of 3.18, a quick ratio of 2.13 and a debt-to-equity ratio of 0.66.
Wolverine World Wide (NYSE:WWW) last released its quarterly earnings data on Wednesday, May 9th. The textile maker reported $0.50 EPS for the quarter, beating the consensus estimate of $0.37 by $0.13. The company had revenue of $534.10 million during the quarter, compared to the consensus estimate of $531.10 million. Wolverine World Wide had a return on equity of 17.54% and a net margin of 1.28%. The firm’s revenue for the quarter was down 9.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.37 EPS. equities analysts predict that Wolverine World Wide, Inc. will post 2.08 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 1st. Stockholders of record on Monday, July 2nd will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend is Friday, June 29th. Wolverine World Wide’s payout ratio is presently 19.51%.
In other news, CFO Michael D. Stornant sold 38,010 shares of the stock in a transaction that occurred on Friday, May 18th. The stock was sold at an average price of $32.38, for a total value of $1,230,763.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael Jeppesen sold 47,640 shares of the stock in a transaction that occurred on Friday, May 11th. The shares were sold at an average price of $31.50, for a total value of $1,500,660.00. The disclosure for this sale can be found here. Corporate insiders own 5.81% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Deutsche Bank AG lifted its holdings in Wolverine World Wide by 23.3% during the 4th quarter. Deutsche Bank AG now owns 348,457 shares of the textile maker’s stock valued at $11,106,000 after purchasing an additional 65,741 shares during the last quarter. BlackRock Inc. lifted its holdings in Wolverine World Wide by 1.1% during the 4th quarter. BlackRock Inc. now owns 12,032,149 shares of the textile maker’s stock valued at $383,584,000 after purchasing an additional 128,266 shares during the last quarter. Martingale Asset Management L P acquired a new stake in Wolverine World Wide during the 4th quarter valued at $428,000. Earnest Partners LLC acquired a new stake in Wolverine World Wide during the 4th quarter valued at $48,417,000. Finally, Teachers Retirement System of The State of Kentucky lifted its holdings in Wolverine World Wide by 2.5% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 94,101 shares of the textile maker’s stock valued at $3,000,000 after purchasing an additional 2,338 shares during the last quarter. 95.27% of the stock is owned by institutional investors.
About Wolverine World Wide
Wolverine World Wide, Inc designs, manufactures, sources, markets, licenses, and distributes footwear, apparel, and accessories. The company operates through four segments: Wolverine Outdoor & Lifestyle Group, Wolverine Boston Group, Wolverine Heritage Group, and Wolverine Multi-Brand Group. It offers casual footwear and apparel; performance outdoor and athletic footwear and apparel; children's footwear; industrial work boots and apparel; and uniform shoes and boots.
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