Wolverine World Wide, Inc. (NYSE:WWW – Get Free Report)’s share price traded up 11.8% on Wednesday . The company traded as high as $13.20 and last traded at $12.77. 607,622 shares changed hands during mid-day 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
WWW has been the subject of a number of research analyst reports. Seaport Res Ptn raised shares of Wolverine World Wide from a “neutral” rating to a “buy” rating in a research report on Monday. Telsey Advisory Group reaffirmed a “market perform” rating and set a $10.00 price objective on shares of Wolverine World Wide in a report on Wednesday. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $10.63.
Get Our Latest Stock Analysis on Wolverine World Wide
Wolverine World Wide Stock Up 11.3 %
Wolverine World Wide (NYSE:WWW – Get Free Report) last announced its quarterly earnings data on Wednesday, February 21st. The textile maker reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.03). The business had revenue of $526.70 million during the quarter, compared to analysts’ expectations of $520.12 million. Wolverine World Wide had a negative net margin of 1.77% and a positive return on equity of 1.45%. Wolverine World Wide’s revenue for the quarter was down 20.8% on a year-over-year basis. During the same period last year, the company posted ($0.15) EPS. As a group, sell-side analysts expect that Wolverine World Wide, Inc. will post 0.77 EPS for the current fiscal year.
Wolverine World Wide Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Monday, July 1st will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 3.15%. The ex-dividend date is Monday, July 1st. Wolverine World Wide’s dividend payout ratio is presently -78.43%.
Hedge Funds Weigh In On Wolverine World Wide
Institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC bought a new stake in shares of Wolverine World Wide during the fourth quarter worth $26,000. Central Pacific Bank Trust Division acquired a new stake in Wolverine World Wide in the first quarter worth about $81,000. Sherbrooke Park Advisers LLC purchased a new stake in shares of Wolverine World Wide during the third quarter valued at $93,000. Aristeia Capital LLC purchased a new position in Wolverine World Wide during the 3rd quarter worth approximately $103,000. Finally, Oxford Asset Management LLP acquired a new stake in Wolverine World Wide during the fourth quarter worth about $124,000. Hedge funds and other institutional investors own 90.25% of the company’s stock.
Wolverine World Wide Company Profile
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.
Read More
- Five stocks we like better than Wolverine World Wide
- Bank Stocks – Best Bank Stocks to Invest In
- Lucid’s Stock Price is Still in Reverse: New Lows Are Coming
- Market Cap Calculator: How to Calculate Market Cap
- Generac Powers Ahead on the Electrification Mega-Trend
- Investing in Commodities: What Are They? How to Invest in Them
- PulteGroup Wins and Wins More on Interest Rate Cuts
Receive News & Ratings for Wolverine World Wide Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wolverine World Wide and related companies with MarketBeat.com's FREE daily email newsletter.