Wolverine World Wide (NYSE:WWW) Shares Gap Up – Time to Buy?

Shares of Wolverine World Wide, Inc. (NYSE:WWW) gapped up prior to trading on Wednesday . The stock had previously closed at $15.01, but opened at $16.01. Wolverine World Wide shares last traded at $16.65, with a volume of 354,065 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Telsey Advisory Group reiterated a “market perform” rating and issued a $23.00 price target on shares of Wolverine World Wide in a report on Wednesday, February 19th. StockNews.com downgraded Wolverine World Wide from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th. UBS Group cut their price target on shares of Wolverine World Wide from $29.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Stifel Nicolaus upgraded Wolverine World Wide from a “hold” rating to a “buy” rating and raised their price target for the stock from $21.00 to $29.00 in a research report on Wednesday, December 11th. Finally, Robert W. Baird dropped their price target on Wolverine World Wide from $21.00 to $18.00 and set a “neutral” rating for the company in a research note on Thursday, February 20th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $21.50.

Wolverine World Wide Price Performance

The company has a market capitalization of $1.27 billion, a PE ratio of 28.84 and a beta of 1.88. The firm’s 50 day simple moving average is $21.39 and its 200 day simple moving average is $18.90. The company has a quick ratio of 0.77, a current ratio of 1.29 and a debt-to-equity ratio of 1.79.

Wolverine World Wide (NYSE:WWW) last posted its quarterly earnings data on Wednesday, February 19th. The textile maker reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. The firm had revenue of $494.70 million during the quarter, compared to analyst estimates of $485.74 million. Wolverine World Wide had a net margin of 2.73% and a return on equity of 26.81%. Wolverine World Wide’s revenue was down 6.1% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.30) EPS. As a group, research analysts anticipate that Wolverine World Wide, Inc. will post 1.23 EPS for the current fiscal year.

Wolverine World Wide Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 1st will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date is Tuesday, April 1st. Wolverine World Wide’s dividend payout ratio (DPR) is presently 72.73%.

Hedge Funds Weigh In On Wolverine World Wide

Several hedge funds and other institutional investors have recently modified their holdings of the business. SBI Securities Co. Ltd. acquired a new stake in shares of Wolverine World Wide during the fourth quarter valued at about $25,000. Signaturefd LLC increased its holdings in shares of Wolverine World Wide by 88.8% in the 4th quarter. Signaturefd LLC now owns 1,450 shares of the textile maker’s stock valued at $32,000 after acquiring an additional 682 shares during the last quarter. Natixis acquired a new position in Wolverine World Wide in the fourth quarter valued at $41,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Wolverine World Wide in the 4th quarter valued at about $64,000. Finally, KBC Group NV increased its position in Wolverine World Wide by 43.8% in the 4th quarter. KBC Group NV now owns 4,303 shares of the textile maker’s stock valued at $96,000 after acquiring an additional 1,311 shares during the period. 90.25% of the stock is owned by hedge funds and other institutional investors.

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.