Wolverine World Wide (NYSE:WWW) Reaches New 12-Month High – Still a Buy?

Wolverine World Wide, Inc. (NYSE:WWW) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $19.50 and last traded at $19.22, with a volume of 504097 shares. The stock had previously closed at $16.05.

Analyst Ratings Changes

Several equities analysts have weighed in on WWW shares. Telsey Advisory Group reaffirmed a “market perform” rating and set a $15.00 price target on shares of Wolverine World Wide in a report on Thursday. Robert W. Baird boosted their price target on shares of Wolverine World Wide from $13.00 to $15.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. KeyCorp upgraded shares of Wolverine World Wide from a “sector weight” rating to an “overweight” rating and set a $20.00 price objective on the stock in a research report on Thursday, August 8th. Piper Sandler reiterated an “overweight” rating and set a $18.00 price objective on shares of Wolverine World Wide in a research report on Friday, August 23rd. Finally, BNP Paribas upgraded shares of Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 price target on the stock in a report on Thursday, October 3rd. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $18.00.

Wolverine World Wide Stock Up 0.7 %

The business has a fifty day simple moving average of $15.98 and a two-hundred day simple moving average of $14.07. The company has a current ratio of 1.19, a quick ratio of 0.74 and a debt-to-equity ratio of 2.14. The company has a market cap of $1.76 billion, a PE ratio of -24.66 and a beta of 1.78.

Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings data on Wednesday, August 7th. The textile maker reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.05. The firm had revenue of $425.40 million for the quarter, compared to analyst estimates of $411.20 million. Wolverine World Wide had a negative net margin of 4.42% and a negative return on equity of 0.34%. Wolverine World Wide’s revenue was down 27.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.19 EPS. As a group, equities research analysts predict that Wolverine World Wide, Inc. will post 0.85 earnings per share for the current year.

Wolverine World Wide Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 2nd will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.82%. Wolverine World Wide’s payout ratio is -44.94%.

Insider Activity at Wolverine World Wide

In other news, insider David A. Latchana sold 7,706 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $17.02, for a total transaction of $131,156.12. Following the completion of the sale, the insider now owns 13,889 shares in the company, valued at $236,390.78. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.28% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake in shares of Wolverine World Wide by 15.9% during the third quarter. GAMMA Investing LLC now owns 4,494 shares of the textile maker’s stock valued at $78,000 after acquiring an additional 616 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in shares of Wolverine World Wide by 2.0% in the 2nd quarter. Louisiana State Employees Retirement System now owns 40,200 shares of the textile maker’s stock valued at $544,000 after purchasing an additional 800 shares in the last quarter. Texas Permanent School Fund Corp lifted its stake in shares of Wolverine World Wide by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 69,168 shares of the textile maker’s stock valued at $775,000 after purchasing an additional 946 shares in the last quarter. Hsbc Holdings PLC raised its holdings in shares of Wolverine World Wide by 9.3% during the 2nd quarter. Hsbc Holdings PLC now owns 11,425 shares of the textile maker’s stock valued at $153,000 after buying an additional 973 shares during the period. Finally, ProShare Advisors LLC raised its holdings in shares of Wolverine World Wide by 7.5% during the 1st quarter. ProShare Advisors LLC now owns 15,708 shares of the textile maker’s stock valued at $176,000 after buying an additional 1,090 shares during the period. Hedge funds and other 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.