Wolverine World Wide (NYSE:WWW) Trading 2.9% Higher

Wolverine World Wide, Inc. (NYSE:WWW) shares traded up 2.9% during trading on Monday . The company traded as high as $9.40 and last traded at $9.38. 313,055 shares traded hands during mid-day trading, a decline of 64% from the average session volume of 860,574 shares. The stock had previously closed at $9.12.

Wall Street Analyst Weigh In

Separately, Telsey Advisory Group restated a “market perform” rating and set a $10.00 price objective on shares of Wolverine World Wide in a research note on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat, Wolverine World Wide presently has a consensus rating of “Hold” and a consensus price target of $10.63.

Wolverine World Wide Stock Down 1.1 %

The company has a quick ratio of 0.75, a current ratio of 1.18 and a debt-to-equity ratio of 2.02. The firm has a market capitalization of $757.55 million, a price-to-earnings ratio of -18.80 and a beta of 1.75. The stock has a 50 day moving average of $9.80 and a 200 day moving average of $8.97.

Wolverine World Wide (NYSE:WWW) last issued its earnings results on Wednesday, February 21st. The textile maker reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.03). The firm had revenue of $526.70 million during the quarter, compared to analyst estimates of $520.12 million. Wolverine World Wide had a positive return on equity of 1.45% and a negative net margin of 1.77%. Wolverine World Wide’s revenue was down 20.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.15) EPS. As a group, analysts expect that Wolverine World Wide, Inc. will post 0.77 earnings per share for the current fiscal year.

Wolverine World Wide Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 1st will be given a $0.10 dividend. The ex-dividend date is Thursday, March 28th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.22%. Wolverine World Wide’s payout ratio is currently -78.43%.

Hedge Funds Weigh In On Wolverine World Wide

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Callodine Capital Management LP bought a new stake in shares of Wolverine World Wide in the 3rd quarter worth approximately $8,060,000. Wolverine Asset Management LLC boosted its holdings in shares of Wolverine World Wide by 493.5% during the third quarter. Wolverine Asset Management LLC now owns 193,757 shares of the textile maker’s stock valued at $1,562,000 after acquiring an additional 161,109 shares during the period. Invesco Ltd. grew its position in shares of Wolverine World Wide by 21.7% during the third quarter. Invesco Ltd. now owns 799,375 shares of the textile maker’s stock worth $6,443,000 after acquiring an additional 142,646 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Wolverine World Wide by 18.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,668,623 shares of the textile maker’s stock worth $13,449,000 after acquiring an additional 255,872 shares during the period. Finally, Swiss National Bank lifted its position in Wolverine World Wide by 1.0% in the 3rd quarter. Swiss National Bank now owns 174,600 shares of the textile maker’s stock valued at $1,407,000 after purchasing an additional 1,700 shares during the last quarter. 90.25% of the stock is currently owned by institutional investors and hedge funds.

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.