Wolverine World Wide (NYSE:WWW) Sets New 52-Week Low at $26.37

Wolverine World Wide, Inc. (NYSE:WWW)’s stock price hit a new 52-week low during trading on Thursday . The stock traded as low as $26.37 and last traded at $26.37, with a volume of 878496 shares trading hands. The stock had previously closed at $27.15.

Several equities analysts have recently commented on WWW shares. 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. Pivotal Research reaffirmed a “hold” rating and set a $30.00 price objective (down from $34.00) on shares of Wolverine World Wide in a research note on Friday. ValuEngine downgraded shares of Wolverine World Wide from a “hold” rating to a “sell” rating in a research note on Monday, May 20th. Argus downgraded shares of Wolverine World Wide from a “buy” rating to a “hold” rating and set a $29.19 price objective for the company. in a research note on Friday, May 17th. Finally, DA Davidson set a $40.00 price objective on shares of Wolverine World Wide and gave the company a “buy” rating in a research note on Friday, May 10th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $37.72.

The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.85 and a current ratio of 1.48. The firm’s 50-day moving average price is $27.33. The company has a market cap of $2.38 billion, a P/E ratio of 12.36, a PEG ratio of 1.19 and a beta of 1.08.

Wolverine World Wide (NYSE:WWW) last announced its quarterly earnings results on Thursday, May 9th. The textile maker reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.02. Wolverine World Wide had a net margin of 8.70% and a return on equity of 20.97%. The company had revenue of $523.40 million for the quarter, compared to analysts’ expectations of $535.82 million. During the same quarter in the previous year, the company earned $0.50 earnings per share. Wolverine World Wide’s quarterly revenue was down 2.0% on a year-over-year basis. On average, analysts anticipate that Wolverine World Wide, Inc. will post 2.28 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors 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 1.49%. Wolverine World Wide’s dividend payout ratio is currently 18.43%.

In related news, Director Jeffrey M. Boromisa purchased 10,000 shares of Wolverine World Wide stock in a transaction that occurred on Friday, May 31st. The shares were bought at an average price of $27.92 per share, for a total transaction of $279,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.93% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in WWW. Norges Bank purchased a new position in shares of Wolverine World Wide during the fourth quarter valued at about $40,369,000. Marshall Wace LLP purchased a new stake in Wolverine World Wide in the first quarter worth about $7,635,000. State of Wisconsin Investment Board grew its holdings in Wolverine World Wide by 33.4% in the first quarter. State of Wisconsin Investment Board now owns 480,300 shares of the textile maker’s stock worth $17,161,000 after purchasing an additional 120,300 shares during the period. Amundi Pioneer Asset Management Inc. purchased a new stake in Wolverine World Wide in the first quarter worth about $3,282,000. Finally, Geode Capital Management LLC grew its holdings in Wolverine World Wide by 9.8% in the fourth 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 during the period. Institutional investors own 91.49% of the company’s stock.

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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