Wolverine World Wide Inc. (WWW) Trading Up 5.8%
Wolverine World Wide Inc. (NYSE:WWW) shares were up 5.8% during trading on Thursday . The stock traded as high as $21.45 and last traded at $21.42, with a volume of 1,012,852 shares changing hands. The stock had previously closed at $20.24.
A number of brokerages have recently issued reports on WWW. TheStreet raised Wolverine World Wide from a “hold” rating to a “buy” rating in a research report on Tuesday, June 21st. Susquehanna raised Wolverine World Wide from a “neutral” rating to a “positive” rating and lifted their target price for the stock from $18.00 to $25.00 in a research report on Thursday. Sterne Agee CRT lowered Wolverine World Wide from a “neutral” rating to an “underperform” rating and set a $15.00 target price on the stock. in a research report on Wednesday, April 27th. B. Riley reaffirmed a “neutral” rating and set a $19.00 target price on shares of Wolverine World Wide in a research report on Monday, May 9th. Finally, Zacks Investment Research raised Wolverine World Wide from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 26th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $21.46.
The company’s 50-day moving average price is $19.41 and its 200 day moving average price is $18.11. The company has a market capitalization of $2.22 billion and a P/E ratio of 22.54.
Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings data on Tuesday, May 3rd. The company reported $0.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.07. The business earned $577.60 million during the quarter, compared to the consensus estimate of $567.47 million. The company’s revenue for the quarter was down 8.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.37 earnings per share. Analysts predict that Wolverine World Wide Inc. will post $1.37 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, August 1st. Shareholders of record on Friday, July 1st will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend is Wednesday, June 29th.
A number of large investors have recently added to or reduced their stakes in the stock. Trexquant Investment LP purchased a new stake in Wolverine World Wide during the fourth quarter worth about $1,091,000. Nationwide Fund Advisors boosted its stake in Wolverine World Wide by 2.1% in the fourth quarter. Nationwide Fund Advisors now owns 76,437 shares of the company’s stock worth $1,277,000 after buying an additional 1,591 shares during the period. Systematic Financial Management LP boosted its stake in Wolverine World Wide by 7.2% in the fourth quarter. Systematic Financial Management LP now owns 91,556 shares of the company’s stock worth $1,529,000 after buying an additional 6,170 shares during the period. Rhumbline Advisers boosted its stake in Wolverine World Wide by 7.2% in the fourth quarter. Rhumbline Advisers now owns 140,040 shares of the company’s stock worth $2,340,000 after buying an additional 9,450 shares during the period. Finally, Gamco Investors INC. ET AL boosted its stake in Wolverine World Wide by 0.6% in the fourth quarter. Gamco Investors INC. ET AL now owns 182,038 shares of the company’s stock worth $3,042,000 after buying an additional 1,100 shares during the period.
Wolverine World Wide, Inc is a designer, manufacturer and marketer of a range of casual footwear and apparel, outdoor and athletic footwear and apparel, children’s footwear, industrial work boots and apparel, and uniform shoes and boots. The Company’s products are marketed around the world in approximately 200 countries and territories through Company-owned wholesale and consumer-direct operations, and third-party licensees and distributors.
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