Wolverine World Wide (NYSE:WWW) Shares Gap Up to $10.75

Wolverine World Wide, Inc. (NYSE:WWW) shares gapped up before the market opened on Monday . The stock had previously closed at $10.75, but opened at $11.26. Wolverine World Wide shares last traded at $11.48, with a volume of 204,849 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on WWW shares. 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 reaffirmed a “market perform” rating and issued a $10.00 target price on shares of Wolverine World Wide in a research report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $10.63.

Wolverine World Wide Stock Performance

The company has a market capitalization of $912.57 million, a P/E ratio of -22.39 and a beta of 1.73. The stock’s fifty day moving average price is $10.20 and its 200-day moving average price is $9.24. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.75 and a current ratio of 1.18.

Wolverine World Wide (NYSE:WWW) last released 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 analyst estimates of $520.12 million. Wolverine World Wide had a negative net margin of 1.77% and a positive return on equity of 1.45%. The business’s quarterly revenue was down 20.8% on a year-over-year basis. During the same period in the previous year, the business earned ($0.15) earnings per share. As a group, research analysts anticipate that Wolverine World Wide, Inc. will post 0.77 EPS for the current fiscal year.

Wolverine World Wide Dividend Announcement

The business 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 dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, July 1st. This represents a $0.40 dividend on an annualized basis and a yield of 3.50%. Wolverine World Wide’s dividend payout ratio (DPR) is -78.43%.

Hedge Funds Weigh In On Wolverine World Wide

Several large investors have recently modified their holdings of WWW. Sei Investments Co. grew 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 valued at $7,718,000 after buying an additional 12,266 shares during the last quarter. Texas Permanent School Fund Corp boosted its holdings 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 acquiring an additional 946 shares during the period. Central Pacific Bank Trust Division acquired a new position in shares of Wolverine World Wide in the first quarter valued at approximately $81,000. Capstone Investment Advisors LLC bought a new position in shares of Wolverine World Wide during the first quarter worth approximately $1,089,000. Finally, BNP Paribas Financial Markets lifted its holdings in Wolverine World Wide by 52.8% during the 1st quarter. BNP Paribas Financial Markets now owns 65,242 shares of the textile maker’s stock worth $731,000 after purchasing an additional 22,532 shares during the last quarter. 90.25% of the stock is owned by institutional investors.

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.