Wolverine World Wide Inc. (WWW) Shares Up 3.5%
Wolverine World Wide Inc. (NYSE:WWW) shares shot up 3.5% during trading on Friday . The company traded as high as $25.54 and last traded at $25.37, with a volume of 787,193 shares trading hands. The stock had previously closed at $24.52.
A number of research firms have recently commented on WWW. Susquehanna began coverage on Wolverine World Wide in a research note on Friday, August 12th. They issued a “negative” rating and a $20.00 target price for the company. Zacks Investment Research upgraded Wolverine World Wide from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Saturday, August 6th. Argus restated a “buy” rating on shares of Wolverine World Wide in a research note on Wednesday, August 3rd. B. Riley restated a “neutral” rating and issued a $24.00 target price on shares of Wolverine World Wide in a research note on Saturday, July 30th. Finally, Telsey Advisory Group raised their target price on Wolverine World Wide from $20.00 to $23.00 and gave the company a “market perform” rating in a research note on Wednesday, July 27th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $22.15.
The company has a 50 day moving average of $23.07 and a 200 day moving average of $19.57. The stock has a market capitalization of $2.51 billion and a P/E ratio of 25.57.
Wolverine World Wide (NYSE:WWW) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.02. The firm earned $583.70 million during the quarter, compared to analysts’ expectations of $578.99 million. During the same quarter in the previous year, the firm posted $0.27 EPS. The firm’s revenue for the quarter was down 7.4% on a year-over-year basis. On average, equities research analysts forecast that Wolverine World Wide Inc. will post $1.36 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Monday, October 3rd will be issued a $0.06 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.98%.
Other hedge funds have recently made changes to their positions in the company. Trexquant Investment LP purchased a new stake in shares of Wolverine World Wide during the fourth quarter worth about $1,091,000. Systematic Financial Management LP raised its stake in shares of 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 last quarter. Principal Financial Group Inc. raised its stake in shares of Wolverine World Wide by 3.2% in the fourth quarter. Principal Financial Group Inc. now owns 690,811 shares of the company’s stock worth $11,543,000 after buying an additional 21,148 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of Wolverine World Wide by 16.5% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,320,982 shares of the company’s stock worth $22,074,000 after buying an additional 187,554 shares during the last quarter.
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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