Wolverine World Wide (NYSE:WWW) Reaches New 12-Month High – Still a Buy?

Wolverine World Wide, Inc. (NYSE:WWW) hit a new 52-week high during trading on Thursday . The stock traded as high as $19.50 and last traded at $19.22, with a volume of 504097 shares trading hands. The stock had previously closed at $16.05.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on WWW shares. Robert W. Baird upped their price objective on Wolverine World Wide from $13.00 to $15.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. UBS Group upgraded Wolverine World Wide from a “neutral” rating to a “buy” rating and increased their target price for the stock from $13.00 to $20.00 in a research note on Friday, July 19th. Argus upgraded Wolverine World Wide to a “hold” rating in a research note on Friday, August 16th. Telsey Advisory Group reiterated a “market perform” rating and set a $15.00 target price on shares of Wolverine World Wide in a research note on Thursday. Finally, Piper Sandler reiterated an “overweight” rating and set a $18.00 target price on shares of Wolverine World Wide in a research note on Friday, August 23rd. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Wolverine World Wide currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

Wolverine World Wide Trading Up 0.7 %

The company has a quick ratio of 0.74, a current ratio of 1.19 and a debt-to-equity ratio of 2.14. The stock has a market capitalization of $1.76 billion, a P/E ratio of -24.66 and a beta of 1.78. The firm’s 50 day simple moving average is $15.98 and its two-hundred day simple moving average is $14.07.

Wolverine World Wide (NYSE:WWW) last posted its earnings results on Wednesday, August 7th. The textile maker reported $0.15 EPS for the quarter, topping the consensus estimate of $0.10 by $0.05. The company had revenue of $425.40 million during the quarter, compared to the consensus estimate of $411.20 million. Wolverine World Wide had a negative net margin of 4.42% and a negative return on equity of 0.34%. The firm’s revenue for the quarter was down 27.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.19 earnings per share. As a group, analysts forecast that Wolverine World Wide, Inc. will post 0.85 earnings per share for the current fiscal year.

Wolverine World Wide Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 2nd will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.82%. The ex-dividend date of this dividend is Thursday, January 2nd. Wolverine World Wide’s dividend payout ratio (DPR) is presently -44.94%.

Insider Buying and Selling

In other Wolverine World Wide news, insider David A. Latchana sold 7,706 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $17.02, for a total value of $131,156.12. Following the transaction, the insider now directly owns 13,889 shares in the company, valued at $236,390.78. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.28% of the stock is owned by corporate insiders.

Institutional Trading of Wolverine World Wide

A number of institutional investors have recently modified their holdings of the business. GAMMA Investing LLC grew its holdings in shares of Wolverine World Wide by 15.9% during the 3rd quarter. GAMMA Investing LLC now owns 4,494 shares of the textile maker’s stock valued at $78,000 after purchasing an additional 616 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in Wolverine World Wide by 2.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 40,200 shares of the textile maker’s stock valued at $544,000 after purchasing an additional 800 shares in the last quarter. Texas Permanent School Fund Corp increased its stake in Wolverine World Wide by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 69,168 shares of the textile maker’s stock valued at $775,000 after purchasing an additional 946 shares in the last quarter. Hsbc Holdings PLC increased its stake in Wolverine World Wide by 9.3% during the 2nd quarter. Hsbc Holdings PLC now owns 11,425 shares of the textile maker’s stock valued at $153,000 after purchasing an additional 973 shares in the last quarter. Finally, ProShare Advisors LLC increased its stake in Wolverine World Wide by 7.5% during the 1st quarter. ProShare Advisors LLC now owns 15,708 shares of the textile maker’s stock valued at $176,000 after purchasing an additional 1,090 shares in the last quarter. 90.25% of the stock is currently owned by hedge funds and other 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.