Wolverine World Wide (NYSE:WWW) Shares Gap Up to $12.51

Wolverine World Wide, Inc. (NYSE:WWW) gapped up prior to trading on Friday . The stock had previously closed at $12.51, but opened at $12.97. Wolverine World Wide shares last traded at $12.87, with a volume of 27,887 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Seaport Res Ptn raised Wolverine World Wide from a “neutral” rating to a “buy” rating in a research note on Monday, May 6th. Telsey Advisory Group reissued a “market perform” rating and set a $14.00 price objective on shares of Wolverine World Wide in a research report on Wednesday, August 7th. KeyCorp raised shares of Wolverine World Wide from a “sector weight” rating to an “overweight” rating and set a $20.00 target price on the stock in a report on Thursday, August 8th. Piper Sandler reiterated an “overweight” rating and issued a $18.00 price target on shares of Wolverine World Wide in a research note on Friday. Finally, UBS Group upgraded shares of Wolverine World Wide from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $13.00 to $20.00 in a research note on Friday, July 19th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Wolverine World Wide has a consensus rating of “Moderate Buy” and a consensus target price of $17.17.

Wolverine World Wide Price Performance

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 company’s 50 day simple moving average is $13.31 and its 200 day simple moving average is $11.80. The company has a market capitalization of $1.08 billion, a PE ratio of -14.53 and a beta of 1.76.

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

Wolverine World Wide Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 1st will be paid a dividend of $0.10 per share. The ex-dividend date is Tuesday, October 1st. This represents a $0.40 dividend on an annualized basis and a yield of 2.96%. Wolverine World Wide’s dividend payout ratio is presently -43.01%.

Insiders Place Their Bets

In other news, insider Isabel Soriano sold 3,201 shares of Wolverine World Wide stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $13.89, for a total value of $44,461.89. Following the transaction, the insider now directly owns 26,519 shares of the company’s stock, valued at approximately $368,348.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.28% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Wolverine World Wide

Several hedge funds have recently made changes to their positions in the business. Louisiana State Employees Retirement System acquired a new position in shares of Wolverine World Wide in the fourth quarter valued at approximately $354,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Wolverine World Wide by 15.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,873 shares of the textile maker’s stock worth $159,000 after buying an additional 2,390 shares during the last quarter. GAMMA Investing LLC acquired a new stake in shares of Wolverine World Wide in the 4th quarter worth $26,000. Semanteon Capital Management LP purchased a new stake in shares of Wolverine World Wide in the fourth quarter valued at about $229,000. Finally, Russell Investments Group Ltd. increased its stake in shares of Wolverine World Wide by 15.9% during the fourth quarter. Russell Investments Group Ltd. now owns 131,020 shares of the textile maker’s stock worth $1,165,000 after acquiring an additional 17,959 shares during the period. Institutional investors and hedge funds own 90.25% of the company’s stock.

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.