Wolverine World Wide (NYSE:WWW) Sets New 1-Year Low at $27.61

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Wolverine World Wide, Inc. (NYSE:WWW)’s share price reached a new 52-week low during trading on Wednesday . The stock traded as low as $27.61 and last traded at $27.64, with a volume of 572752 shares traded. The stock had previously closed at $28.31.

Several brokerages have recently issued reports on WWW. Wedbush reaffirmed an “outperform” rating on shares of Wolverine World Wide in a research report on Thursday, February 21st. Argus cut shares of Wolverine World Wide from a “buy” rating to a “hold” rating and set a $29.19 price target for the company. in a research note on Friday, May 17th. ValuEngine upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating in a research note on Friday, February 15th. DA Davidson set a $40.00 price target on shares of Wolverine World Wide and gave the stock a “buy” rating in a research note on Friday, May 10th. Finally, Telsey Advisory Group restated a “market perform” rating and set a $38.00 price target (up previously from $35.00) on shares of Wolverine World Wide in a research note on Tuesday, February 19th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $38.65.

The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.85 and a current ratio of 1.48. The company has a market cap of $2.45 billion, a PE ratio of 12.82, a P/E/G ratio of 1.20 and a beta of 1.18.

Wolverine World Wide (NYSE:WWW) last posted its earnings results on Thursday, May 9th. The textile maker reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.02. Wolverine World Wide had a net margin of 8.70% and a return on equity of 20.97%. The company had revenue of $523.40 million during the quarter, compared to analysts’ expectations of $535.82 million. During the same quarter in the previous year, the company posted $0.50 earnings per share. Wolverine World Wide’s quarterly revenue was down 2.0% compared to the same quarter last year. On average, equities analysts expect that Wolverine World Wide, Inc. will post 2.3 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Monday, July 1st will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date is Friday, June 28th. Wolverine World Wide’s dividend payout ratio (DPR) is currently 18.43%.

In related news, Director Jeffrey M. Boromisa purchased 10,000 shares of the stock in a transaction that occurred on Friday, May 31st. The stock was acquired at an average price of $27.92 per share, with a total value of $279,200.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 4.93% of the company’s stock.

Several institutional investors have recently modified their holdings of the stock. Premia Global Advisors LLC acquired a new position in shares of Wolverine World Wide in the 1st quarter valued at $47,000. Quadrant Capital Group LLC grew its holdings in shares of Wolverine World Wide by 216.5% in the 1st quarter. Quadrant Capital Group LLC now owns 2,453 shares of the textile maker’s stock valued at $85,000 after buying an additional 1,678 shares during the period. One Wealth Advisors LLC acquired a new position in shares of Wolverine World Wide in the 1st quarter valued at $125,000. Pinnacle Financial Partners Inc. acquired a new position in shares of Wolverine World Wide in the 1st quarter valued at $158,000. Finally, Investors Research Corp acquired a new position in shares of Wolverine World Wide in the 1st quarter valued at $197,000. 91.83% of the stock is owned by institutional investors and hedge funds.

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About Wolverine World Wide (NYSE:WWW)

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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