Wolverine World Wide (NYSE:WWW) Hits New 12-Month High – Still a Buy?

Shares of Wolverine World Wide, Inc. (NYSE:WWW) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $19.50 and last traded at $19.22, with a volume of 504097 shares traded. The stock had previously closed at $16.05.

Analysts Set New Price Targets

Several brokerages have recently commented on WWW. UBS Group upgraded Wolverine World Wide from a “neutral” rating to a “buy” rating and raised their target price for the company from $13.00 to $20.00 in a research note on Friday, July 19th. BNP Paribas upgraded Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 price objective for the company in a report on Thursday, October 3rd. Telsey Advisory Group reaffirmed a “market perform” rating and set a $15.00 target price on shares of Wolverine World Wide in a research report on Thursday. KeyCorp raised shares of Wolverine World Wide from a “sector weight” rating to an “overweight” rating and set a $20.00 price target for the company in a research report on Thursday, August 8th. Finally, Robert W. Baird upped their price objective on shares of Wolverine World Wide from $13.00 to $15.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $18.00.

Wolverine World Wide Stock Up 31.2 %

The company has a current ratio of 1.19, a quick ratio of 0.74 and a debt-to-equity ratio of 2.14. The stock has a market capitalization of $1.69 billion, a PE ratio of -17.31 and a beta of 1.78. The stock’s fifty day simple moving average is $15.65 and its 200-day simple moving average is $13.93.

Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings data on Wednesday, August 7th. The textile maker reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.05. Wolverine World Wide had a negative net margin of 4.42% and a negative return on equity of 0.34%. The business had revenue of $425.40 million during the quarter, compared to the consensus estimate of $411.20 million. During the same period in the prior year, the firm posted $0.19 EPS. The firm’s quarterly revenue was down 27.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Wolverine World Wide, Inc. will post 0.85 EPS for the current fiscal year.

Wolverine World Wide Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 2nd will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.90%. The ex-dividend date is Thursday, January 2nd. Wolverine World Wide’s dividend payout ratio is presently -37.74%.

Insider Buying and Selling

In related news, insider David A. Latchana sold 7,706 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $17.02, for a total transaction of $131,156.12. Following the completion of the transaction, the insider now owns 13,889 shares in the company, valued at approximately $236,390.78. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.28% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Wolverine World Wide

Institutional investors have recently bought and sold shares of the company. Manning & Napier Advisors LLC bought a new position in Wolverine World Wide during the second quarter worth about $7,098,000. Federated Hermes Inc. lifted its position in shares of Wolverine World Wide by 10,607.4% during the second quarter. Federated Hermes Inc. now owns 540,402 shares of the textile maker’s stock worth $7,306,000 after acquiring an additional 535,355 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Wolverine World Wide in the second quarter worth $548,000. Panagora Asset Management Inc. purchased a new position in shares of Wolverine World Wide in the second quarter valued at $3,979,000. Finally, BNP Paribas Financial Markets raised its stake in shares of Wolverine World Wide by 52.8% during the 1st quarter. BNP Paribas Financial Markets now owns 65,242 shares of the textile maker’s stock valued at $731,000 after purchasing an additional 22,532 shares during the period. Hedge funds and other institutional investors own 90.25% of the company’s stock.

About Wolverine World Wide

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.