Wolverine World Wide, Inc. (NYSE:WWW) Short Interest Down 7.8% in January

Wolverine World Wide, Inc. (NYSE:WWW) was the target of a significant decline in short interest during the month of January. As of January 31st, there was short interest totalling 4,750,000 shares, a decline of 7.8% from the January 15th total of 5,150,000 shares. Based on an average daily trading volume, of 597,200 shares, the days-to-cover ratio is presently 8.0 days. Currently, 6.1% of the company’s stock are short sold.

A number of brokerages have issued reports on WWW. Susquehanna Bancshares reiterated a “buy” rating and set a $37.00 price objective on shares of Wolverine World Wide in a research note on Sunday, February 2nd. DA Davidson reiterated a “buy” rating on shares of Wolverine World Wide in a research note on Monday, November 4th. Pivotal Research lifted their price objective on Wolverine World Wide from $30.00 to $32.00 and gave the company a “hold” rating in a research note on Friday, November 8th. Zacks Investment Research cut Wolverine World Wide from a “hold” rating to a “sell” rating and set a $36.00 price objective for the company. in a research note on Monday, December 23rd. Finally, Argus upgraded Wolverine World Wide from a “hold” rating to a “buy” rating in a research note on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $36.29.

WWW stock opened at $31.78 on Friday. Wolverine World Wide has a 1-year low of $23.05 and a 1-year high of $39.72. The business has a fifty day moving average price of $33.13 and a 200-day moving average price of $30.19. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.14 and a quick ratio of 0.64. The stock has a market capitalization of $2.57 billion, a P/E ratio of 17.18, a P/E/G ratio of 0.84 and a beta of 1.06.

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 1st. Stockholders of record on Wednesday, April 1st will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.26%. The ex-dividend date is Tuesday, March 31st. Wolverine World Wide’s dividend payout ratio is currently 18.43%.

Several hedge funds have recently bought and sold shares of the company. UBS Asset Management Americas Inc. raised its stake in shares of Wolverine World Wide by 0.3% in the fourth quarter. UBS Asset Management Americas Inc. now owns 99,457 shares of the textile maker’s stock worth $3,356,000 after purchasing an additional 346 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Wolverine World Wide by 0.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 58,800 shares of the textile maker’s stock worth $1,984,000 after purchasing an additional 386 shares during the last quarter. Anchor Capital Advisors LLC raised its stake in shares of Wolverine World Wide by 1.8% in the third quarter. Anchor Capital Advisors LLC now owns 30,405 shares of the textile maker’s stock worth $859,000 after purchasing an additional 532 shares during the last quarter. Americana Partners LLC purchased a new position in shares of Wolverine World Wide in the fourth quarter worth $25,000. Finally, Rhumbline Advisers raised its stake in shares of Wolverine World Wide by 0.4% in the third quarter. Rhumbline Advisers now owns 286,794 shares of the textile maker’s stock worth $8,105,000 after purchasing an additional 1,021 shares during the last quarter. Hedge funds and other institutional investors own 97.05% of the company’s stock.

About Wolverine World Wide

Wolverine World Wide, Inc designs, manufactures, sources, markets, licenses, and distributes footwear, apparel, and accessories. The company operates through three segments: Wolverine Outdoor & Lifestyle Group, Wolverine Boston Group, and Wolverine Heritage Group. It offers casual footwear and apparel; performance outdoor and athletic footwear and apparel; kids' footwear; industrial work boots and apparel; and uniform shoes and boots.

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