Wolverine World Wide Inc. (WWW) Stock Price Down 2.5%
Shares of Wolverine World Wide Inc. (NYSE:WWW) were down 2.5% on Thursday . The company traded as low as $23.30 and last traded at $23.31, with a volume of 1,278,566 shares trading hands. The stock had previously closed at $23.91.
Several brokerages have recently commented on WWW. Zacks Investment Research upgraded Wolverine World Wide from a “sell” rating to a “buy” rating and set a $21.00 target price on the stock in a report on Friday, May 6th. TheStreet upgraded Wolverine World Wide from a “hold” rating to a “buy” rating in a report on Tuesday, June 21st. Telsey Advisory Group increased their target price on Wolverine World Wide from $20.00 to $23.00 and gave the stock a “market perform” rating in a report on Wednesday, July 27th. Argus restated a “buy” rating on shares of Wolverine World Wide in a report on Wednesday, August 3rd. Finally, Susquehanna began coverage on Wolverine World Wide in a report on Friday, August 12th. They set a “negative” rating and a $20.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $22.31.
The stock has a market cap of $2.32 billion and a price-to-earnings ratio of 23.62. The stock’s 50-day moving average is $23.90 and its 200 day moving average is $20.14.
Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.02. During the same quarter in the prior year, the firm earned $0.27 EPS. The firm had revenue of $583.70 million for the quarter, compared to the consensus estimate of $578.99 million. The company’s revenue 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 disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Monday, October 3rd will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $0.24 dividend on an annualized basis and a yield of 1.03%.
An institutional investor recently raised its position in Wolverine World Wide stock. Principal Financial Group Inc. boosted its position in Wolverine World Wide Inc. (NYSE:WWW) by 3.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 690,811 shares of the company’s stock after buying an additional 21,148 shares during the period. Principal Financial Group Inc. owned about 0.67% of Wolverine World Wide worth $11,543,000 at the end of the most recent 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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