Wolverine World Wide (NYSE:WWW) Shares Gap Up – What’s Next?

Wolverine World Wide, Inc. (NYSE:WWW)’s share price gapped up before the market opened on Monday . The stock had previously closed at $10.79, but opened at $11.42. Wolverine World Wide shares last traded at $11.46, with a volume of 167,596 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Stifel Nicolaus decreased their target price on Wolverine World Wide from $27.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Piper Sandler reduced their price target on Wolverine World Wide from $27.00 to $18.00 and set an “overweight” rating on the stock in a research note on Friday, April 11th. Telsey Advisory Group reissued a “market perform” rating and set a $23.00 price objective on shares of Wolverine World Wide in a research report on Wednesday, February 19th. StockNews.com downgraded shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th. Finally, UBS Group lowered their target price on shares of Wolverine World Wide from $29.00 to $26.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.88.

Wolverine World Wide Stock Up 5.9 %

The stock has a market cap of $926.23 million, a PE ratio of 20.78 and a beta of 1.74. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.29 and a quick ratio of 0.77. The company has a 50 day moving average price of $13.80 and a two-hundred day moving average price of $18.48.

Wolverine World Wide (NYSE:WWW) last issued its earnings results on Wednesday, February 19th. The textile maker reported $0.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.42. Wolverine World Wide had a return on equity of 26.81% and a net margin of 2.73%. The business 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) EPS. Wolverine World Wide’s revenue was down 6.1% on a year-over-year basis. Analysts expect that Wolverine World Wide, Inc. will post 1.23 EPS for the current year.

Wolverine World Wide Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 1st will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date of this dividend is Tuesday, April 1st. Wolverine World Wide’s dividend payout ratio (DPR) is presently 72.73%.

Hedge Funds Weigh In On Wolverine World Wide

A number of institutional investors and hedge funds have recently modified their holdings of WWW. HighTower Advisors LLC purchased a new position in Wolverine World Wide in the third quarter worth about $192,000. Barclays PLC increased its position in shares of Wolverine World Wide by 767.1% during the 3rd quarter. Barclays PLC now owns 250,830 shares of the textile maker’s stock valued at $4,368,000 after purchasing an additional 221,904 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Wolverine World Wide by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,791,789 shares of the textile maker’s stock worth $31,219,000 after purchasing an additional 17,400 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of Wolverine World Wide in the third quarter worth approximately $113,000. Finally, JPMorgan Chase & Co. grew its position in Wolverine World Wide by 1,263.0% during the third quarter. JPMorgan Chase & Co. now owns 1,426,942 shares of the textile maker’s stock valued at $24,857,000 after buying an additional 1,322,254 shares during the period. 90.25% of the stock is currently owned by hedge funds and other institutional investors.

Wolverine World Wide Company Profile

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.