Wolverine World Wide (NYSE:WWW) Trading 11.8% Higher

Wolverine World Wide, Inc. (NYSE:WWW)’s stock price shot up 11.8% on Wednesday . The stock traded as high as $13.20 and last traded at $12.77. 607,622 shares were traded during trading, a decline of 30% from the average session volume of 870,831 shares. The stock had previously closed at $11.42.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on WWW. Seaport Res Ptn upgraded shares of Wolverine World Wide from a “neutral” rating to a “buy” rating in a research note on Monday. Telsey Advisory Group reiterated a “market perform” rating and issued a $10.00 target price on shares of Wolverine World Wide in a research note on Wednesday. UBS Group raised their price target on shares of Wolverine World Wide from $11.00 to $13.00 and gave the company a “neutral” rating in a research report on Thursday. Robert W. Baird boosted their price objective on shares of Wolverine World Wide from $9.00 to $13.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Williams Trading raised Wolverine World Wide from a “hold” rating to a “buy” rating and lifted their target price for the stock from $11.00 to $16.00 in a report on Thursday. Nine investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $11.67.

Wolverine World Wide Trading Up 5.0 %

The firm has a market capitalization of $1.07 billion, a P/E ratio of -26.23 and a beta of 1.73. The company has a current ratio of 1.18, a quick ratio of 0.75 and a debt-to-equity ratio of 2.02. The stock has a 50 day simple moving average of $10.32 and a 200-day simple moving average of $9.30.

Wolverine World Wide (NYSE:WWW) last announced its earnings results on Wednesday, February 21st. The textile maker reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.03). Wolverine World Wide had a negative net margin of 1.77% and a positive return on equity of 1.45%. The business had revenue of $526.70 million for the quarter, compared to the consensus estimate of $520.12 million. During the same quarter last year, the firm posted ($0.15) earnings per share. The business’s quarterly revenue was down 20.8% compared to the same quarter last year. On average, equities research analysts forecast that Wolverine World Wide, Inc. will post 0.77 EPS for the current fiscal year.

Wolverine World Wide Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Monday, July 1st will be issued a $0.10 dividend. The ex-dividend date is Monday, July 1st. This represents a $0.40 dividend on an annualized basis and a yield of 2.99%. Wolverine World Wide’s dividend payout ratio is currently -78.43%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Pacific Ridge Capital Partners LLC increased its holdings in Wolverine World Wide by 29.0% in the 1st quarter. Pacific Ridge Capital Partners LLC now owns 67,482 shares of the textile maker’s stock worth $756,000 after acquiring an additional 15,190 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its position in shares of Wolverine World Wide by 66.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 36,861 shares of the textile maker’s stock worth $413,000 after purchasing an additional 14,670 shares during the period. ProShare Advisors LLC increased its stake in shares of Wolverine World Wide by 7.5% in the first quarter. ProShare Advisors LLC now owns 15,708 shares of the textile maker’s stock worth $176,000 after purchasing an additional 1,090 shares in the last quarter. Sei Investments Co. increased its stake in Wolverine World Wide by 1.8% in the 1st quarter. Sei Investments Co. now owns 688,530 shares of the textile maker’s stock worth $7,718,000 after buying an additional 12,266 shares in the last quarter. Finally, Texas Permanent School Fund Corp grew its position in shares of Wolverine World Wide by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 69,168 shares of the textile maker’s stock worth $775,000 after purchasing an additional 946 shares in the last quarter. Institutional investors own 90.25% of the company’s stock.

About Wolverine World Wide

Wolverine World Wide, Inc designs, manufactures, sources, markets, licenses, and distributes footwear, apparel, and accessories in the United States, Europe, the Middle East, Africa, the Asia Pacific, Canada and Latin America. It operates through Active Group and Work Group segments. The company offers casual footwear and apparel; performance outdoor and athletic footwear and apparel; kids' footwear; industrial work boots and apparel; and uniform shoes and boots.