Wolverine World Wide (NYSE:WWW) Hits New 1-Year High – Should You Buy?

Wolverine World Wide, Inc. (NYSE:WWW) reached a new 52-week high during trading on Thursday . The company traded as high as $17.86 and last traded at $17.75, with a volume of 89769 shares traded. The stock had previously closed at $17.16.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on WWW shares. KeyCorp upgraded Wolverine World Wide from a “sector weight” rating to an “overweight” rating and set a $20.00 price objective for the company in a research report on Thursday, August 8th. BNP Paribas raised Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 price target for the company in a report on Thursday. Argus raised shares of Wolverine World Wide to a “hold” rating in a report on Friday, August 16th. Piper Sandler reaffirmed an “overweight” rating and issued a $18.00 target price on shares of Wolverine World Wide in a research note on Friday, August 23rd. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $14.00 target price on shares of Wolverine World Wide in a research report on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $17.86.

Wolverine World Wide Stock Performance

The firm’s 50-day moving average price is $14.33 and its 200 day moving average price is $12.94. The company has a market cap of $1.42 billion, a price-to-earnings ratio of -19.13 and a beta of 1.77. The company has a debt-to-equity ratio of 2.14, a quick ratio of 0.74 and a current ratio of 1.19.

Wolverine World Wide (NYSE:WWW) last released its earnings results on Wednesday, August 7th. The textile maker reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.05. The firm had revenue of $425.40 million during the quarter, compared to analyst estimates 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 business’s quarterly revenue was down 27.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.19 EPS. On average, sell-side analysts anticipate that Wolverine World Wide, Inc. will post 0.85 EPS for the current year.

Wolverine World Wide Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Tuesday, October 1st will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend is Tuesday, October 1st. Wolverine World Wide’s payout ratio is -43.01%.

Insider Transactions at Wolverine World Wide

In related news, insider David A. Latchana sold 7,706 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $17.02, for a total value of $131,156.12. Following the sale, the insider now directly owns 13,889 shares in the company, valued at $236,390.78. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 2.28% of the company’s stock.

Hedge Funds Weigh In On Wolverine World Wide

Institutional investors and hedge funds have recently made changes to their positions in the company. Capstone Investment Advisors LLC bought a new position in Wolverine World Wide during the first quarter worth about $1,089,000. Manning & Napier Advisors LLC bought a new position in shares of Wolverine World Wide during the 2nd quarter valued at about $7,098,000. Federated Hermes Inc. grew its position in shares of Wolverine World Wide by 10,607.4% in the 2nd quarter. Federated Hermes Inc. now owns 540,402 shares of the textile maker’s stock valued at $7,306,000 after purchasing an additional 535,355 shares during the period. Intrinsic Edge Capital Management LLC bought a new stake in Wolverine World Wide during the 4th quarter worth approximately $2,563,000. Finally, SG Americas Securities LLC bought a new stake in Wolverine World Wide during the 2nd quarter worth approximately $548,000. Institutional investors and hedge funds own 90.25% of the company’s stock.

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.