Wolverine World Wide (NYSE:WWW) Reaches New 12-Month High at $15.28

Wolverine World Wide, Inc. (NYSE:WWW)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $15.28 and last traded at $15.18, with a volume of 161342 shares traded. The stock had previously closed at $14.97.

Analysts Set New Price Targets

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

Wolverine World Wide Trading Down 1.1 %

The company has a debt-to-equity ratio of 2.14, a quick ratio of 0.74 and a current ratio of 1.19. The firm has a market cap of $1.19 billion, a PE ratio of -16.01 and a beta of 1.76. The stock’s 50 day simple moving average is $13.59 and its 200 day simple moving average is $12.39.

Wolverine World Wide (NYSE:WWW) last announced its quarterly earnings data on Wednesday, August 7th. The textile maker reported $0.15 earnings per share (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 company had revenue of $425.40 million during the quarter, compared to analysts’ expectations of $411.20 million. During the same quarter in the prior year, the company earned $0.19 EPS. The firm’s revenue was down 27.8% on a year-over-year basis. On average, sell-side analysts forecast that Wolverine World Wide, Inc. will post 0.85 earnings per share for the current fiscal year.

Wolverine World Wide Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 1st will be paid a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.69%. Wolverine World Wide’s dividend payout ratio (DPR) is -43.01%.

Institutional Investors Weigh In On Wolverine World Wide

Institutional investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. boosted its stake in shares of Wolverine World Wide by 6.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,771,991 shares of the textile maker’s stock valued at $15,753,000 after purchasing an additional 103,368 shares in the last quarter. Capstone Investment Advisors LLC purchased a new stake in shares of Wolverine World Wide in the 1st quarter valued at $1,089,000. Manning & Napier Advisors LLC bought a new stake in Wolverine World Wide during the 2nd quarter valued at $7,098,000. Intrinsic Edge Capital Management LLC bought a new stake in Wolverine World Wide during the 4th quarter valued at $2,563,000. Finally, SG Americas Securities LLC bought a new stake in Wolverine World Wide during the 2nd quarter valued at $548,000. Hedge funds and other institutional investors 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.