Wolverine World Wide (WWW) Reaches New 1-Year High at $29.65

Wolverine World Wide, Inc. (NYSE:WWW) shares reached a new 52-week high on Thursday . The company traded as high as $29.65 and last traded at $29.35, with a volume of 775300 shares changing hands. The stock had previously closed at $28.57.

Several brokerages recently commented on WWW. Piper Jaffray Companies set a $25.00 target price on shares of Wolverine World Wide and gave the stock a “hold” rating in a report on Wednesday, August 9th. ValuEngine upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating in a report on Friday, August 11th. Zacks Investment Research upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a report on Saturday, August 12th. Robert W. Baird reiterated a “buy” rating and issued a $32.00 target price on shares of Wolverine World Wide in a report on Sunday, September 17th. Finally, Morgan Stanley lifted their target price on shares of Wolverine World Wide from $22.50 to $24.50 and gave the stock an “equal weight” rating in a report on Monday, September 25th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $25.65.

The company has a market cap of $2,830.00, a price-to-earnings ratio of 18.31, a P/E/G ratio of 1.40 and a beta of 0.96. The company has a quick ratio of 2.06, a current ratio of 3.09 and a debt-to-equity ratio of 0.74.

Wolverine World Wide (NYSE:WWW) last announced its earnings results on Wednesday, November 8th. The textile maker reported $0.43 EPS for the quarter, topping the consensus estimate of $0.37 by $0.06. Wolverine World Wide had a net margin of 2.35% and a return on equity of 15.25%. The firm had revenue of $581.30 million for the quarter, compared to the consensus estimate of $552.36 million. During the same quarter last year, the firm posted $0.49 EPS. The business’s quarterly revenue was down 3.7% on a year-over-year basis. sell-side analysts expect that Wolverine World Wide, Inc. will post 1.64 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Tuesday, January 2nd will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, December 29th. This represents a $0.24 annualized dividend and a dividend yield of 0.82%. Wolverine World Wide’s payout ratio is 40.00%.

In other news, Director Joseph R. Gromek sold 18,928 shares of the business’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $29.14, for a total transaction of $551,561.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Michael Jeppesen sold 11,807 shares of the business’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $27.97, for a total transaction of $330,241.79. The disclosure for this sale can be found here. Insiders own 5.65% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Bank of Montreal Can increased its holdings in shares of Wolverine World Wide by 1.3% during the 2nd quarter. Bank of Montreal Can now owns 4,904 shares of the textile maker’s stock worth $138,000 after purchasing an additional 64 shares during the period. Amalgamated Bank increased its holdings in shares of Wolverine World Wide by 1.9% during the 2nd quarter. Amalgamated Bank now owns 13,330 shares of the textile maker’s stock worth $373,000 after purchasing an additional 246 shares during the period. Municipal Employees Retirement System of Michigan increased its holdings in shares of Wolverine World Wide by 1.6% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 22,840 shares of the textile maker’s stock worth $640,000 after purchasing an additional 360 shares during the period. Advisory Services Network LLC increased its holdings in shares of Wolverine World Wide by 5.3% during the 2nd quarter. Advisory Services Network LLC now owns 8,336 shares of the textile maker’s stock worth $234,000 after purchasing an additional 421 shares during the period. Finally, Stephens Inc. AR increased its holdings in shares of Wolverine World Wide by 1.0% during the 2nd quarter. Stephens Inc. AR now owns 47,112 shares of the textile maker’s stock worth $1,320,000 after purchasing an additional 451 shares during the period. Institutional investors own 92.50% of the company’s stock.

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Wolverine World Wide Company Profile

Wolverine World Wide, Inc is a designer, manufacturer and marketer of a range of casual footwear and apparel, outdoor and athletic footwear and apparel, children’s footwear, industrial work boots and apparel, and uniform shoes and boots. It operates in four segments: Wolverine Outdoor & Lifestyle Group, which offers Merrell footwear and apparel, Cat footwear, Hush Puppies footwear and apparel, and Chaco footwear; Wolverine Boston Group, which offers Sperry footwear and apparel, Saucony footwear and apparel, and Keds footwear and apparel; Wolverine Heritage Group, which offers Wolverine footwear and apparel, Bates uniform footwear, Harley-Davidson footwear and HyTest safety footwear, and Wolverine Multi-Brand Group, which offers Stride Rite footwear and apparel, and its multi-brand consumer-direct businesses.

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