Wolverine World Wide (NYSE:WWW) Hits New 12-Month High at $15.45

Wolverine World Wide, Inc. (NYSE:WWW) hit a new 52-week high during trading on Monday . The company traded as high as $15.45 and last traded at $15.45, with a volume of 719 shares trading hands. The stock had previously closed at $15.35.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on WWW shares. Telsey Advisory Group restated a “market perform” rating and issued a $14.00 price objective on shares of Wolverine World Wide in a report on Wednesday, August 7th. UBS Group upgraded shares of Wolverine World Wide from a “neutral” rating to a “buy” rating and upped their price target for the company from $13.00 to $20.00 in a research report on Friday, July 19th. KeyCorp raised Wolverine World Wide from a “sector weight” rating to an “overweight” rating and set a $20.00 price objective on the stock in a research note on Thursday, August 8th. Argus raised Wolverine World Wide to a “hold” rating in a research note on Friday, August 16th. Finally, Robert W. Baird raised their price target on Wolverine World Wide from $13.00 to $15.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Four equities research 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, the company currently has an average rating of “Moderate Buy” and a consensus target price of $17.17.

Wolverine World Wide Stock Up 0.4 %

The company has a market capitalization of $1.23 billion, a P/E ratio of -16.51 and a beta of 1.76. 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 has a 50 day moving average of $13.69 and a 200-day moving average of $12.49.

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

Wolverine World Wide Dividend Announcement

The business 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 $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date is Tuesday, October 1st. Wolverine World Wide’s payout ratio is currently -43.01%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. GAMMA Investing LLC increased its stake in shares of Wolverine World Wide by 42.5% during the first quarter. GAMMA Investing LLC now owns 4,504 shares of the textile maker’s stock valued at $50,000 after purchasing an additional 1,343 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in Wolverine World Wide during the 2nd quarter valued at approximately $68,000. Central Pacific Bank Trust Division purchased a new position in Wolverine World Wide during the first quarter valued at $81,000. Natixis bought a new stake in Wolverine World Wide in the first quarter worth $112,000. Finally, Connable Office Inc. purchased a new stake in shares of Wolverine World Wide in the fourth quarter worth $137,000. 90.25% of the stock is currently owned by institutional investors.

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.