Wolverine World Wide (NYSE:WWW) Reaches New 52-Week Low at $25.75

Wolverine World Wide, Inc. (NYSE:WWW) shares reached a new 52-week low on Wednesday . The stock traded as low as $25.75 and last traded at $25.75, with a volume of 33096 shares changing hands. The stock had previously closed at $27.16.

Several equities research analysts have weighed in on the stock. DA Davidson set a $40.00 price target on shares of Wolverine World Wide and gave the company a “buy” rating in a research note on Friday, May 10th. Argus downgraded 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. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $34.00 price target (down from $38.00) on shares of Wolverine World Wide in a research note on Monday. Pivotal Research reaffirmed a “hold” rating and issued a $30.00 price target (down from $34.00) on shares of Wolverine World Wide in a research note on Friday, August 2nd. Finally, Zacks Investment Research downgraded shares of Wolverine World Wide from a “hold” rating to a “sell” rating in a research note on Monday, April 22nd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $37.32.

The company has a debt-to-equity ratio of 0.64, a current ratio of 1.48 and a quick ratio of 0.85. The company has a 50-day moving average price of $27.21. The firm has a market capitalization of $2.38 billion, a P/E ratio of 11.82, a P/E/G ratio of 1.17 and a beta of 1.08.

Wolverine World Wide (NYSE:WWW) last posted its earnings results on Wednesday, August 7th. The textile maker reported $0.52 EPS for the quarter, topping the consensus estimate of $0.50 by $0.02. The company had revenue of $568.60 million during the quarter, compared to the consensus estimate of $575.24 million. Wolverine World Wide had a net margin of 8.70% and a return on equity of 20.97%. The firm’s revenue for the quarter was up .3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.54 earnings per share. As a group, analysts anticipate that Wolverine World Wide, Inc. will post 2.28 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 1st will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend is Monday, September 30th. Wolverine World Wide’s payout ratio is presently 18.43%.

In other Wolverine World Wide news, Director Jeffrey M. Boromisa bought 10,000 shares of the firm’s stock in a transaction dated Friday, May 31st. The stock was bought at an average cost of $27.92 per share, with a total value of $279,200.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 4.93% of the company’s stock.

Several large investors have recently bought and sold shares of WWW. Amalgamated Bank increased its position in shares of Wolverine World Wide by 127.5% during the fourth quarter. Amalgamated Bank now owns 14,519 shares of the textile maker’s stock worth $463,000 after acquiring an additional 8,138 shares in the last quarter. Norges Bank bought a new stake in Wolverine World Wide in the 4th quarter worth about $40,369,000. Geode Capital Management LLC grew its position in Wolverine World Wide by 9.8% in the 4th quarter. Geode Capital Management LLC now owns 1,003,698 shares of the textile maker’s stock worth $32,007,000 after purchasing an additional 89,817 shares in the last quarter. Deutsche Bank AG grew its position in Wolverine World Wide by 32.6% in the 4th quarter. Deutsche Bank AG now owns 262,274 shares of the textile maker’s stock worth $8,362,000 after purchasing an additional 64,472 shares in the last quarter. Finally, Atwater Malick LLC grew its position in Wolverine World Wide by 3.3% in the 1st quarter. Atwater Malick LLC now owns 98,386 shares of the textile maker’s stock worth $3,515,000 after purchasing an additional 3,128 shares in the last quarter. 91.46% of the stock is owned by institutional investors.

Wolverine World Wide Company Profile (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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