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.
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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