Wolverine World Wide (NYSE:WWW) Shares Down 5.3%

Wolverine World Wide, Inc. (NYSE:WWW) shares were down 5.3% on Wednesday . The company traded as low as $13.27 and last traded at $13.30. Approximately 696,578 shares traded hands during mid-day trading, a decline of 31% from the average daily volume of 1,005,032 shares. The stock had previously closed at $14.05.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on WWW shares. Williams Trading raised shares of Wolverine World Wide from a “hold” rating to a “buy” rating and lifted their price objective for the company from $11.00 to $16.00 in a report on Thursday, May 9th. Telsey Advisory Group restated a “market perform” rating and set a $10.00 price target on shares of Wolverine World Wide in a research report on Wednesday, May 8th. UBS Group boosted their target price on shares of Wolverine World Wide from $11.00 to $13.00 and gave the company a “neutral” rating in a report on Thursday, May 9th. Seaport Res Ptn upgraded shares of Wolverine World Wide from a “neutral” rating to a “buy” rating in a report on Monday, May 6th. Finally, Robert W. Baird boosted their target price on shares of Wolverine World Wide from $9.00 to $13.00 and gave the company a “neutral” rating in a report on Thursday, May 9th. Nine research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $11.67.

Wolverine World Wide Trading Up 0.8 %

The firm’s fifty day moving average price is $12.69 and its 200 day moving average price is $10.50. The company has a quick ratio of 0.65, a current ratio of 1.13 and a debt-to-equity ratio of 2.24.

Wolverine World Wide (NYSE:WWW) last announced its earnings results on Wednesday, May 8th. The textile maker reported $0.05 earnings per share for the quarter, hitting the consensus estimate of $0.05. Wolverine World Wide had a negative net margin of 3.59% and a positive return on equity of 0.53%. The firm had revenue of $394.90 million for the quarter, compared to the consensus estimate of $360.31 million. Equities analysts expect that Wolverine World Wide, Inc. will post 0.8 earnings per share for the current year.

Wolverine World Wide Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Monday, July 1st will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date is Monday, July 1st. Wolverine World Wide’s dividend payout ratio is presently -43.01%.

Insider Buying and Selling at Wolverine World Wide

In other Wolverine World Wide news, insider Isabel Soriano sold 3,201 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $13.89, for a total value of $44,461.89. Following the sale, the insider now directly owns 26,519 shares of the company’s stock, valued at approximately $368,348.91. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.28% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Lumbard & Kellner LLC purchased a new position in shares of Wolverine World Wide in the 1st quarter valued at $3,211,000. Price T Rowe Associates Inc. MD grew its position in shares of Wolverine World Wide by 5.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 56,307 shares of the textile maker’s stock valued at $632,000 after buying an additional 2,907 shares during the last quarter. EntryPoint Capital LLC purchased a new position in shares of Wolverine World Wide in the 1st quarter valued at $141,000. Natixis acquired a new stake in Wolverine World Wide during the 1st quarter worth $112,000. Finally, Pacific Ridge Capital Partners LLC boosted its stake in Wolverine World Wide by 29.0% during the 1st quarter. Pacific Ridge Capital Partners LLC now owns 67,482 shares of the textile maker’s stock worth $756,000 after purchasing an additional 15,190 shares during the period. 90.25% of the stock is owned by hedge funds and other institutional investors.

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.