Wolverine World Wide (NYSE:WWW) Shares Gap Up to $10.75

Wolverine World Wide, Inc. (NYSE:WWW)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $10.75, but opened at $11.26. Wolverine World Wide shares last traded at $11.48, with a volume of 204,849 shares traded.

Analysts Set New Price Targets

WWW has been the subject of several research reports. Seaport Res Ptn raised shares of Wolverine World Wide from a “neutral” rating to a “buy” rating in a research note on Monday. Telsey Advisory Group reissued a “market perform” rating and set a $10.00 price target on shares of Wolverine World Wide in a research report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, Wolverine World Wide currently has a consensus rating of “Hold” and an average price target of $10.63.

Wolverine World Wide Trading Down 0.1 %

The firm has a fifty day moving average of $10.20 and a 200 day moving average of $9.24. The firm has a market capitalization of $912.57 million, a PE ratio of -22.39 and a beta of 1.73. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.75 and a current ratio of 1.18.

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

Wolverine World Wide Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Monday, July 1st will be issued a $0.10 dividend. The ex-dividend date of this dividend is Monday, July 1st. This represents a $0.40 dividend on an annualized basis and a yield of 3.50%. Wolverine World Wide’s dividend payout ratio is currently -78.43%.

Hedge Funds Weigh In On Wolverine World Wide

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Callodine Capital Management LP acquired a new position in shares of Wolverine World Wide in the third quarter worth about $8,060,000. Wolverine Asset Management LLC boosted its stake in shares of Wolverine World Wide by 493.5% during the 3rd quarter. Wolverine Asset Management LLC now owns 193,757 shares of the textile maker’s stock valued at $1,562,000 after buying an additional 161,109 shares during the last quarter. Invesco Ltd. grew its position in shares of Wolverine World Wide by 21.7% during the third quarter. Invesco Ltd. now owns 799,375 shares of the textile maker’s stock worth $6,443,000 after buying an additional 142,646 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Wolverine World Wide by 18.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,668,623 shares of the textile maker’s stock worth $13,449,000 after buying an additional 255,872 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Wolverine World Wide in the fourth quarter valued at $172,000. 90.25% of the stock is owned by hedge funds and other institutional investors.

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.