Wolverine World Wide (NYSE:WWW) Reaches New 12-Month Low at $27.61

Wolverine World Wide, Inc. (NYSE:WWW) shares hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $27.61 and last traded at $27.64, with a volume of 572752 shares traded. The stock had previously closed at $28.31.

WWW has been the subject of several recent research reports. Wedbush reissued an “outperform” rating on shares of Wolverine World Wide in a report on Thursday, February 21st. Argus cut Wolverine World Wide from a “buy” rating to a “hold” rating and set a $29.19 price target for the company. in a research note on Friday, May 17th. ValuEngine raised Wolverine World Wide from a “hold” rating to a “buy” rating in a research note on Friday, February 15th. DA Davidson set a $40.00 price target on Wolverine World Wide and gave the company a “buy” rating in a research note on Friday, May 10th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $38.00 price target (up from $35.00) on shares of Wolverine World Wide in a research note on Tuesday, February 19th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $38.65.

The firm has a market cap of $2.53 billion, a P/E ratio of 12.73, a P/E/G ratio of 1.24 and a beta of 1.18. The company has a quick ratio of 0.85, a current ratio of 1.48 and a debt-to-equity ratio of 0.64.

Wolverine World Wide (NYSE:WWW) last released its quarterly earnings data on Thursday, May 9th. The textile maker reported $0.49 EPS for the quarter, beating the consensus estimate of $0.47 by $0.02. The company had revenue of $523.40 million during the quarter, compared to the consensus estimate of $535.82 million. Wolverine World Wide had a return on equity of 20.97% and a net margin of 8.70%. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.50 EPS. On average, equities research analysts anticipate that Wolverine World Wide, Inc. will post 2.3 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Monday, July 1st will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date is Friday, June 28th. Wolverine World Wide’s dividend payout ratio (DPR) is presently 18.43%.

In other Wolverine World Wide news, Director Jeffrey M. Boromisa purchased 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The shares were acquired at an average price of $27.92 per share, for a total transaction of $279,200.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 4.93% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Oregon Public Employees Retirement Fund bought a new position in Wolverine World Wide during the 4th quarter worth $36,000. Premia Global Advisors LLC acquired a new stake in Wolverine World Wide in the first quarter valued at about $47,000. Quadrant Capital Group LLC boosted its stake in Wolverine World Wide by 216.5% in the first quarter. Quadrant Capital Group LLC now owns 2,453 shares of the textile maker’s stock valued at $85,000 after buying an additional 1,678 shares in the last quarter. One Wealth Advisors LLC acquired a new stake in Wolverine World Wide in the first quarter valued at about $125,000. Finally, Pinnacle Financial Partners Inc. acquired a new stake in Wolverine World Wide in the first quarter valued at about $158,000. Institutional investors and hedge funds own 91.83% of the company’s stock.

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Wolverine World Wide Company Profile (NYSE:WWW)

Wolverine World Wide, Inc designs, manufactures, sources, markets, licenses, and distributes footwear, apparel, and accessories. The company operates through three segments: Wolverine Outdoor & Lifestyle Group, Wolverine Boston Group, and Wolverine Heritage Group. It offers casual footwear and apparel; performance outdoor and athletic footwear and apparel; kids' footwear; industrial work boots and apparel; and uniform shoes and boots.

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