Shares of Wolverine World Wide Inc. (NYSE:WWW) dropped 2.5% during mid-day trading on Thursday . The stock traded as low as $23.30 and last traded at $23.31, with a volume of 1,278,566 shares. The stock had previously closed at $23.91.

WWW has been the subject of several research analyst reports. Zacks Investment Research raised Wolverine World Wide from a “sell” rating to a “buy” rating and set a $21.00 price objective for the company in a research report on Friday, May 6th. TheStreet raised Wolverine World Wide from a “hold” rating to a “buy” rating in a research report on Tuesday, June 21st. Argus reissued a “buy” rating on shares of Wolverine World Wide in a research report on Wednesday, August 3rd. Robert W. Baird reissued a “hold” rating on shares of Wolverine World Wide in a research report on Monday, May 16th. Finally, Telsey Advisory Group boosted their price objective on Wolverine World Wide from $20.00 to $23.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 27th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $22.31.

The stock has a 50-day moving average price of $23.90 and a 200 day moving average price of $20.10. The company has a market capitalization of $2.32 billion and a price-to-earnings ratio of 23.62.

Wolverine World Wide (NYSE:WWW) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.02. The company earned $583.70 million during the quarter, compared to the consensus estimate of $578.99 million. During the same quarter in the previous year, the business earned $0.27 EPS. Wolverine World Wide’s revenue was down 7.4% on a year-over-year basis. Equities analysts predict that Wolverine World Wide Inc. will post $1.36 earnings per share for the current year.

The firm 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 dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date is Thursday, September 29th.

A hedge fund recently raised its stake 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 Form 13F filing with the SEC. The fund 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 as of its most recent SEC filing.

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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