Wolverine World Wide, Inc. (NYSE:WWW)’s share price reached a new 52-week low on Tuesday . The stock traded as low as $26.56 and last traded at $26.56, with a volume of 937 shares traded. The stock had previously closed at $26.79.
Several analysts have weighed in on WWW shares. DA Davidson set a $40.00 price target on shares of Wolverine World Wide and gave the stock a “buy” rating in a research note on Friday, May 10th. Argus downgraded shares of Wolverine World Wide from a “buy” rating to a “hold” rating and set a $29.19 price target for the company. in a research note on Friday, May 17th. ValuEngine downgraded shares of Wolverine World Wide from a “hold” rating to a “sell” rating in a research note on Monday, May 20th. Finally, Zacks Investment Research downgraded shares of Wolverine World Wide from a “hold” rating to a “sell” rating in a research note on Monday, April 22nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $38.65.
The firm’s 50-day moving average price is $28.79. The stock has a market cap of $2.38 billion, a PE ratio of 12.56, a PEG ratio of 1.16 and a beta of 1.18. The company has a current ratio of 1.48, a quick ratio of 0.85 and a debt-to-equity ratio of 0.64.
Wolverine World Wide (NYSE:WWW) last released its quarterly earnings data on Thursday, May 9th. The textile maker reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.02. Wolverine World Wide had a net margin of 8.70% and a return on equity of 20.97%. The firm had revenue of $523.40 million for the quarter, compared to analysts’ expectations of $535.82 million. During the same quarter in the previous year, the company earned $0.50 earnings per share. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. As a group, analysts expect that Wolverine World Wide, Inc. will post 2.3 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Monday, July 1st will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date is Friday, June 28th. Wolverine World Wide’s payout ratio is 18.43%.
In other news, Director Jeffrey M. Boromisa acquired 10,000 shares of the firm’s stock in a transaction on Friday, May 31st. The shares were purchased at an average price of $27.92 per share, for a total transaction of $279,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.93% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the business. Amundi Pioneer Asset Management Inc. purchased a new stake in Wolverine World Wide in the first quarter worth about $3,282,000. GYL Financial Synergies LLC purchased a new stake in Wolverine World Wide in the first quarter worth about $706,000. Marshall Wace North America L.P. purchased a new stake in Wolverine World Wide in the first quarter worth about $505,000. Marshall Wace LLP purchased a new stake in Wolverine World Wide in the first quarter worth about $7,635,000. Finally, Westfield Capital Management Co. LP grew its holdings in Wolverine World Wide by 11.7% in the first quarter. Westfield Capital Management Co. LP now owns 832,800 shares of the textile maker’s stock worth $29,756,000 after purchasing an additional 87,150 shares during the period. Hedge funds and other institutional investors own 91.83% of the company’s stock.
Wolverine World Wide Company Profile (NYSE:WWW)
Wolverine World Wide, Inc designs, manufactures, sources, markets, licenses, and distributes footwear, apparel, and accessories. The company operates through three segments: Wolverine Outdoor & Lifestyle Group, Wolverine Boston Group, and Wolverine Heritage Group. It offers casual footwear and apparel; performance outdoor and athletic footwear and apparel; kids' footwear; industrial work boots and apparel; and uniform shoes and boots.
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