Wolverine World Wide (NYSE:WWW) Stock Price Down 4.5% – Time to Sell?

Wolverine World Wide, Inc. (NYSE:WWW) shares dropped 4.5% during trading on Wednesday . The company traded as low as $16.25 and last traded at $16.25. Approximately 484,627 shares traded hands during mid-day trading, a decline of 56% from the average daily volume of 1,112,088 shares. The stock had previously closed at $17.02.

Analysts Set New Price Targets

A number of brokerages have issued reports on WWW. Robert W. Baird boosted their price target on Wolverine World Wide from $13.00 to $15.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. BNP Paribas upgraded shares of Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 target price for the company in a research note on Thursday, October 3rd. Argus upgraded shares of Wolverine World Wide to a “hold” rating in a research report on Friday, August 16th. Telsey Advisory Group reiterated a “market perform” rating and issued a $14.00 price objective on shares of Wolverine World Wide in a research report on Wednesday, August 7th. Finally, UBS Group upgraded Wolverine World Wide from a “neutral” rating to a “buy” rating and raised their target price for the company from $13.00 to $20.00 in a research report on Friday, July 19th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $17.86.

Wolverine World Wide Stock Performance

The company has a market cap of $1.32 billion, a price-to-earnings ratio of -17.95 and a beta of 1.77. 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’s 50 day simple moving average is $14.44 and its 200-day simple moving average is $13.07.

Wolverine World Wide (NYSE:WWW) last released its quarterly earnings data on Wednesday, August 7th. The textile maker reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $425.40 million for the quarter, compared to analyst estimates of $411.20 million. During the same quarter in the previous year, the company posted $0.19 earnings per share. The firm’s revenue for the quarter was down 27.8% compared to the same quarter last year. On average, sell-side analysts predict that Wolverine World Wide, Inc. will post 0.85 EPS for the current year.

Wolverine World Wide Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Tuesday, October 1st will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $0.40 annualized dividend and a yield of 2.43%. Wolverine World Wide’s dividend payout ratio (DPR) is -43.01%.

Insider Buying and Selling at Wolverine World Wide

In other Wolverine World Wide news, insider David A. Latchana sold 7,706 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $17.02, for a total transaction of $131,156.12. Following the completion of the transaction, the insider now owns 13,889 shares of the company’s stock, valued at $236,390.78. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 2.28% of the company’s stock.

Institutional Trading of Wolverine World Wide

Hedge funds have recently added to or reduced their stakes in the company. Future Financial Wealth Managment LLC acquired a new stake in shares of Wolverine World Wide in the 3rd quarter valued at approximately $35,000. GAMMA Investing LLC increased its holdings in shares of Wolverine World Wide by 42.5% in the 1st quarter. GAMMA Investing LLC now owns 4,504 shares of the textile maker’s stock valued at $50,000 after acquiring an additional 1,343 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in Wolverine World Wide in the second quarter valued at approximately $68,000. Central Pacific Bank Trust Division acquired a new stake in shares of Wolverine World Wide in the 1st quarter worth about $81,000. Finally, Natixis acquired a new stake in shares of Wolverine World Wide in the first quarter valued at approximately $112,000. 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.