Wolverine World Wide Inc. (WWW) Trading Up 3.5%
Shares of Wolverine World Wide Inc. (NYSE:WWW) were 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 traded. The stock had previously closed at $24.52.
A number of analysts recently commented on WWW shares. Zacks Investment Research upgraded shares of 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. Sterne Agee CRT lowered shares of Wolverine World Wide from a “neutral” rating to an “underperform” rating and set a $15.00 price target on the stock. in a report on Wednesday, April 27th. TheStreet upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating in a report on Tuesday, June 21st. Telsey Advisory Group boosted their price target on shares of Wolverine World Wide from $20.00 to $23.00 and gave the company a “market perform” rating in a report on Wednesday, July 27th. Finally, Argus restated a “buy” rating on shares of Wolverine World Wide in a report on Wednesday, August 3rd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $22.15.
The company has a 50 day moving average of $23.21 and a 200-day moving average of $19.63. The firm has a market capitalization of $2.51 billion and a P/E ratio of 25.54.
Wolverine World Wide (NYSE:WWW) last issued its earnings results on Tuesday, July 26th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.02. During the same period last year, the business posted $0.27 EPS. The business earned $583.70 million during the quarter, compared to the consensus estimate of $578.99 million. The firm’s revenue for the quarter was down 7.4% compared to the same quarter last year. On average, analysts predict that Wolverine World Wide Inc. will post $1.36 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Monday, October 3rd will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend is Thursday, September 29th.
Other hedge funds and institutional investors have modified their holdings of the company. Trexquant Investment LP acquired a new position in shares of Wolverine World Wide during the fourth quarter valued at about $1,091,000. Systematic Financial Management LP raised its position 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 valued at $1,529,000 after buying an additional 6,170 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in Wolverine World Wide by 3.2% in the fourth quarter. Principal Financial Group Inc. now owns 690,811 shares of the company’s stock valued at $11,543,000 after buying an additional 21,148 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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