Wolverine World Wide Inc. (WWW) Trading Down 1.4%
Wolverine World Wide Inc. (NYSE:WWW) shares dropped 1.4% on Thursday . The stock traded as low as $24.77 and last traded at $24.79, with a volume of 170,815 shares traded. The stock had previously closed at $25.14.
WWW has been the topic of several research analyst reports. TheStreet raised shares of Wolverine World Wide from a “hold” rating to a “buy” rating in a report on Tuesday, June 21st. Susquehanna initiated coverage on shares of Wolverine World Wide in a report on Friday, August 12th. They issued a “negative” rating and a $20.00 price target on the stock. Zacks Investment Research cut shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a report on Thursday, May 19th. Robert W. Baird reissued a “hold” rating on shares of Wolverine World Wide in a research note on Monday, May 16th. Finally, Sterne Agee CRT cut Wolverine World Wide from a “neutral” rating to an “underperform” rating and set a $15.00 target price on the stock. in a research note on Wednesday, April 27th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $22.15.
The stock has a market capitalization of $2.46 billion and a P/E ratio of 25.04. The firm has a 50 day moving average price of $23.53 and a 200-day moving average price of $19.81.
Wolverine World Wide (NYSE:WWW) last released its earnings results on Tuesday, July 26th. The company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.02. The firm had revenue of $583.70 million for the quarter, compared to analysts’ expectations of $578.99 million. The firm’s quarterly revenue was down 7.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.27 EPS. Equities research analysts predict that Wolverine World Wide Inc. will post $1.36 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Monday, October 3rd will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date is Thursday, September 29th.
Several hedge funds and institutional investors have recently added to or reduced their stakes in WWW. Trexquant Investment LP purchased a new position in Wolverine World Wide during the fourth quarter worth $1,091,000. Principal Financial Group Inc. boosted 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 worth $11,543,000 after buying an additional 21,148 shares during the period. Finally, Systematic Financial Management LP boosted 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 worth $1,529,000 after buying an additional 6,170 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.