Wolverine World Wide (NYSE:WWW) Shares Gap Down – Time to Sell?

Wolverine World Wide, Inc. (NYSE:WWW)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $18.73, but opened at $17.38. Wolverine World Wide shares last traded at $15.43, with a volume of 426,842 shares changing hands.

Analysts Set New Price Targets

Several brokerages have recently commented on WWW. Telsey Advisory Group reissued a “market perform” rating and issued a $23.00 target price on shares of Wolverine World Wide in a report on Wednesday. StockNews.com lowered Wolverine World Wide from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th. Finally, Stifel Nicolaus upgraded Wolverine World Wide from a “hold” rating to a “buy” rating and raised their target price for the company from $21.00 to $29.00 in a research note on Wednesday, December 11th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.38.

Wolverine World Wide Stock Performance

The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of -16.47 and a beta of 1.88. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.23 and a quick ratio of 0.77. The stock has a 50-day moving average of $22.30 and a 200 day moving average of $18.79.

Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings results on Wednesday, February 19th. The textile maker reported $0.42 EPS for the quarter, topping the consensus estimate of $0.41 by $0.01. Wolverine World Wide had a negative net margin of 3.80% and a positive return on equity of 6.37%. During the same quarter in the previous year, the business posted ($0.30) earnings per share. On average, analysts expect that Wolverine World Wide, Inc. will post 0.9 EPS for the current year.

Wolverine World Wide Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 1st will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend is Tuesday, April 1st. Wolverine World Wide’s dividend payout ratio (DPR) is currently -44.94%.

Insider Transactions at Wolverine World Wide

In other Wolverine World Wide news, insider Isabel Soriano sold 7,687 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $23.57, for a total transaction of $181,182.59. Following the transaction, the insider now owns 34,206 shares in the company, valued at approximately $806,235.42. This trade represents a 18.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.28% of the stock is owned by corporate insiders.

Institutional Trading of Wolverine World Wide

A number of hedge funds have recently modified their holdings of the company. Pacer Advisors Inc. bought a new stake in Wolverine World Wide in the fourth quarter valued at approximately $64,943,000. JPMorgan Chase & Co. increased its position in shares of Wolverine World Wide by 1,263.0% in the 3rd 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 in the last quarter. Jennison Associates LLC acquired a new stake in Wolverine World Wide during the 3rd quarter worth $10,974,000. Capital Research Global Investors bought a new position in Wolverine World Wide during the fourth quarter worth about $13,943,000. Finally, Nuveen Asset Management LLC increased its holdings in shares of Wolverine World Wide by 179.1% in the fourth quarter. Nuveen Asset Management LLC now owns 628,338 shares of the textile maker’s stock worth $13,949,000 after acquiring an additional 403,176 shares in 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.