Wolverine World Wide (NYSE:WWW) Shares Down 3.7%

Wolverine World Wide, Inc. (NYSE:WWW)’s stock price was down 3.7% during trading on Monday . The company traded as low as $16.83 and last traded at $16.86. Approximately 160,267 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 1,084,273 shares. The stock had previously closed at $17.51.

Analyst Upgrades and Downgrades

WWW has been the topic of several research analyst reports. Piper Sandler restated an “overweight” rating and issued a $18.00 price objective on shares of Wolverine World Wide in a report on Friday, August 23rd. Argus upgraded shares of Wolverine World Wide to a “hold” rating in a research report on Friday, August 16th. KeyCorp upgraded Wolverine World Wide from a “sector weight” rating to an “overweight” rating and set a $20.00 target price on the stock in a research report on Thursday, August 8th. UBS Group upgraded shares of Wolverine World Wide from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $13.00 to $20.00 in a research report on Friday, July 19th. Finally, Robert W. Baird raised their price objective on shares of Wolverine World Wide from $13.00 to $15.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Four 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, Wolverine World Wide presently has a consensus rating of “Moderate Buy” and an average target price of $17.17.

Wolverine World Wide Stock Performance

The company has a market capitalization of $1.37 billion, a PE ratio of -18.30 and a beta of 1.76. 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 stock’s fifty day simple moving average is $14.02 and its 200-day simple moving average is $12.72.

Wolverine World Wide (NYSE:WWW) last released its earnings results on Wednesday, August 7th. The textile maker reported $0.15 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $411.20 million. During the same period in the previous year, the company earned $0.19 EPS. Wolverine World Wide’s revenue for the quarter was down 27.8% on a year-over-year basis. As a group, equities analysts predict that Wolverine World Wide, Inc. will post 0.85 earnings per share for the current year.

Wolverine World Wide Announces Dividend

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 given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.34%. The ex-dividend date is Tuesday, October 1st. Wolverine World Wide’s dividend payout ratio (DPR) is -43.01%.

Institutional Trading of Wolverine World Wide

Institutional investors and hedge funds have recently made changes to their positions in the company. Capstone Investment Advisors LLC acquired a new position in Wolverine World Wide in the first quarter worth about $1,089,000. Manning & Napier Advisors LLC acquired a new position in Wolverine World Wide during the 2nd quarter worth $7,098,000. Federated Hermes Inc. grew its stake in shares of Wolverine World Wide by 10,607.4% in the second quarter. Federated Hermes Inc. now owns 540,402 shares of the textile maker’s stock worth $7,306,000 after purchasing an additional 535,355 shares in the last quarter. Intrinsic Edge Capital Management LLC bought a new stake in shares of Wolverine World Wide during the fourth quarter valued at about $2,563,000. Finally, SG Americas Securities LLC acquired a new stake in Wolverine World Wide in the second quarter worth about $548,000. 90.25% of the stock is currently owned by institutional investors and hedge funds.

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.