Wolverine World Wide (NYSE:WWW) Trading 2.9% Higher

Wolverine World Wide, Inc. (NYSE:WWW)’s stock price was up 2.9% during mid-day trading on Monday . The stock traded as high as $9.40 and last traded at $9.38. Approximately 313,055 shares traded hands during mid-day trading, a decline of 64% from the average daily volume of 860,574 shares. The stock had previously closed at $9.12.

Analyst Upgrades and Downgrades

Separately, Telsey Advisory Group reissued a “market perform” rating and set a $10.00 price objective on shares of Wolverine World Wide in a research report on Wednesday, February 21st. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat, Wolverine World Wide has a consensus rating of “Hold” and a consensus price target of $10.63.

Wolverine World Wide Trading Down 1.1 %

The business has a 50-day moving average of $9.80 and a two-hundred day moving average of $8.97. The company has a quick ratio of 0.75, a current ratio of 1.18 and a debt-to-equity ratio of 2.02. The firm has a market capitalization of $757.55 million, a price-to-earnings ratio of -18.80 and a beta of 1.75.

Wolverine World Wide (NYSE:WWW) last announced its quarterly earnings data on Wednesday, February 21st. The textile maker reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.03). The firm had revenue of $526.70 million for the quarter, compared to analyst estimates of $520.12 million. Wolverine World Wide had a positive return on equity of 1.45% and a negative net margin of 1.77%. Wolverine World Wide’s revenue for the quarter was down 20.8% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.15) EPS. Research analysts predict that Wolverine World Wide, Inc. will post 0.77 EPS for the current fiscal year.

Wolverine World Wide Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 1st will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.22%. The ex-dividend date is Thursday, March 28th. Wolverine World Wide’s dividend payout ratio is -78.43%.

Institutional Investors Weigh In On Wolverine World Wide

Institutional investors have recently added to or reduced their stakes in the stock. Citigroup Inc. lifted its position in shares of Wolverine World Wide by 0.8% during the 1st quarter. Citigroup Inc. now owns 70,841 shares of the textile maker’s stock worth $1,599,000 after buying an additional 569 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Wolverine World Wide by 1.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 40,371 shares of the textile maker’s stock valued at $689,000 after acquiring an additional 729 shares during the period. Select Equity Group L.P. boosted its stake in shares of Wolverine World Wide by 1.5% in the 1st quarter. Select Equity Group L.P. now owns 62,000 shares of the textile maker’s stock valued at $1,057,000 after purchasing an additional 908 shares in the last quarter. Advisor Group Holdings Inc. increased its position in shares of Wolverine World Wide by 6.7% during the 1st quarter. Advisor Group Holdings Inc. now owns 18,425 shares of the textile maker’s stock worth $415,000 after purchasing an additional 1,157 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in Wolverine World Wide by 42.5% in the first quarter. GAMMA Investing LLC now owns 4,504 shares of the textile maker’s stock valued at $50,000 after buying an additional 1,343 shares in the last quarter. 90.25% of the stock is owned by institutional investors and hedge funds.

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.