Wolverine World Wide (NYSE:WWW) Share Price Passes Above Two Hundred Day Moving Average of $10.62

Wolverine World Wide, Inc. (NYSE:WWW) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $10.62 and traded as high as $13.24. Wolverine World Wide shares last traded at $12.98, with a volume of 446,769 shares.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. UBS Group boosted their target price on Wolverine World Wide from $11.00 to $13.00 and gave the company a “neutral” rating in a report on Thursday, May 9th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $10.00 price objective on shares of Wolverine World Wide in a report on Wednesday, May 8th. Williams Trading raised shares of Wolverine World Wide from a “hold” rating to a “buy” rating and increased their price objective for the company from $11.00 to $16.00 in a research note on Thursday, May 9th. Seaport Res Ptn raised shares of Wolverine World Wide from a “neutral” rating to a “buy” rating in a research note on Monday, May 6th. Finally, Robert W. Baird raised their price target on Wolverine World Wide from $9.00 to $13.00 and gave the stock a “neutral” rating in a research note on Thursday, May 9th. Nine investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Wolverine World Wide has a consensus rating of “Hold” and a consensus price target of $11.67.

Wolverine World Wide Stock Performance

The company has a market cap of $1.04 billion, a price-to-earnings ratio of -13.96 and a beta of 1.76. The stock has a 50 day simple moving average of $12.93 and a 200 day simple moving average of $10.62. The company has a quick ratio of 0.65, a current ratio of 1.13 and a debt-to-equity ratio of 2.24.

Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings data on Wednesday, May 8th. The textile maker reported $0.05 EPS for the quarter, hitting analysts’ consensus estimates of $0.05. Wolverine World Wide had a negative net margin of 3.59% and a positive return on equity of 0.53%. The firm had revenue of $394.90 million for the quarter, compared to analyst estimates of $360.31 million. As a group, analysts predict that Wolverine World Wide, Inc. will post 0.8 EPS for the current year.

Wolverine World Wide Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Monday, July 1st will be paid a $0.10 dividend. The ex-dividend date of this dividend is Monday, July 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.08%. Wolverine World Wide’s dividend payout ratio (DPR) is presently -43.01%.

Insiders Place Their Bets

In related news, insider Isabel Soriano sold 3,201 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $13.89, for a total transaction of $44,461.89. Following the completion of the sale, the insider now owns 26,519 shares of the company’s stock, valued at approximately $368,348.91. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.28% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Wolverine World Wide

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its position in Wolverine World Wide by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 9,282,319 shares of the textile maker’s stock valued at $74,815,000 after buying an additional 109,833 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Wolverine World Wide by 6.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,771,991 shares of the textile maker’s stock worth $15,753,000 after buying an additional 103,368 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in Wolverine World Wide by 13.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,446,579 shares of the textile maker’s stock valued at $11,659,000 after purchasing an additional 175,039 shares during the period. Invesco Ltd. boosted its position in Wolverine World Wide by 21.7% during the 3rd quarter. Invesco Ltd. now owns 799,375 shares of the textile maker’s stock worth $6,443,000 after acquiring an additional 142,646 shares during the period. Finally, Sei Investments Co. grew its position in Wolverine World Wide by 1.8% during the first quarter. Sei Investments Co. now owns 688,530 shares of the textile maker’s stock valued at $7,718,000 after purchasing an additional 12,266 shares in the last quarter. Institutional investors and hedge funds own 90.25% of the company’s stock.

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.