Wolverine World Wide (NYSE:WWW) Shares Gap Down – Here’s Why

by · The Markets Daily

Wolverine World Wide, Inc. (NYSE:WWW – Get Free Report) shares gapped down before the market opened on Wednesday . The stock had previously closed at $18.73, but opened at $17.38. Wolverine World Wide shares last traded at $15.43, with a volume of 426,842 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on WWW shares. Stifel Nicolaus upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating and lifted their price objective for the company from $21.00 to $29.00 in a research note on Wednesday, December 11th. UBS Group dropped their price objective on shares of Wolverine World Wide from $29.00 to $26.00 and set a “buy” rating on the stock in a research note on Thursday. Telsey Advisory Group reiterated a “market perform” rating and set a $23.00 price objective on shares of Wolverine World Wide in a research note on Wednesday. Robert W. Baird dropped their price objective on shares of Wolverine World Wide from $21.00 to $18.00 and set a “neutral” rating on the stock in a research note on Thursday. Finally, StockNews.com lowered shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Wolverine World Wide has a consensus rating of “Moderate Buy” and an average price target of $21.50.

Read Our Latest Stock Report on Wolverine World Wide

Wolverine World Wide Trading Down 0.4 %

The company has a quick ratio of 0.77, a current ratio of 1.29 and a debt-to-equity ratio of 1.79. The firm’s 50 day simple moving average is $21.88 and its two-hundred day simple moving average is $18.78. The stock has a market cap of $1.21 billion, a P/E ratio of 27.55 and a beta of 1.88.

Wolverine World Wide (NYSE:WWW – Get Free Report) last released its earnings results on Wednesday, February 19th. The textile maker reported $0.42 earnings per share for the quarter, meeting the consensus estimate of $0.42. Wolverine World Wide had a net margin of 2.73% and a return on equity of 26.81%. The firm had revenue of $494.70 million during the quarter, compared to analyst estimates of $485.74 million. During the same quarter in the previous year, the firm earned ($0.30) earnings per share. The firm’s revenue for the quarter was down 6.1% compared to the same quarter last year. As a group, equities research analysts predict that Wolverine World Wide, Inc. will post 1.13 earnings per share for the current fiscal year.

Wolverine World Wide Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.40 annualized dividend and a yield of 2.64%. Wolverine World Wide’s payout ratio is 72.73%.

Insider Buying and Selling at Wolverine World Wide

In other news, insider Isabel Soriano sold 7,687 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $23.57, for a total transaction of $181,182.59. Following the completion of the transaction, the insider now owns 34,206 shares of the company’s stock, valued at approximately $806,235.42. The trade was a 18.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.28% of the stock is owned by insiders.

Hedge Funds Weigh In On Wolverine World Wide

Several hedge funds and other institutional investors have recently modified their holdings of WWW. CWM LLC boosted its holdings in shares of Wolverine World Wide by 237.0% during the third quarter. CWM LLC now owns 8,843 shares of the textile maker’s stock valued at $154,000 after acquiring an additional 6,219 shares during the period. US Bancorp DE boosted its holdings in shares of Wolverine World Wide by 487.8% during the third quarter. US Bancorp DE now owns 36,776 shares of the textile maker’s stock valued at $641,000 after acquiring an additional 30,519 shares during the period. GSA Capital Partners LLP boosted its holdings in shares of Wolverine World Wide by 33.9% during the third quarter. GSA Capital Partners LLP now owns 96,615 shares of the textile maker’s stock valued at $1,683,000 after acquiring an additional 24,477 shares during the period. Aigen Investment Management LP acquired a new position in shares of Wolverine World Wide during the third quarter valued at $195,000. Finally, Oppenheimer Asset Management Inc. boosted its holdings in shares of Wolverine World Wide by 5.5% during the third quarter. Oppenheimer Asset Management Inc. now owns 145,860 shares of the textile maker’s stock valued at $2,541,000 after acquiring an additional 7,577 shares during the period. Institutional investors and hedge funds own 90.25% of the company’s stock.

Wolverine World Wide Company Profile

(Get Free Report)

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.

Featured Articles