Wolverine World Wide, Inc. (NYSE:WWW – Get Rating) saw a large growth in short interest during the month of March. As of March 31st, there was short interest totalling 3,730,000 shares, a growth of 30.0% from the March 15th total of 2,870,000 shares. Based on an average daily trading volume, of 556,100 shares, the short-interest ratio is presently 6.7 days. Currently, 4.7% of the company’s stock are sold short.
NYSE WWW traded down $0.15 during trading on Monday, hitting $21.97. The stock had a trading volume of 9,461 shares, compared to its average volume of 564,126. Wolverine World Wide has a one year low of $20.67 and a one year high of $44.74. The stock has a 50 day simple moving average of $23.47 and a 200 day simple moving average of $27.94. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of 27.65 and a beta of 1.80. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.71 and a current ratio of 1.19.
Wolverine World Wide (NYSE:WWW – Get Rating) last announced its earnings results on Wednesday, February 23rd. The textile maker reported $0.41 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.41. Wolverine World Wide had a return on equity of 27.42% and a net margin of 2.83%. The business had revenue of $635.60 million during the quarter, compared to analyst estimates of $630.07 million. During the same quarter in the previous year, the business earned $0.21 earnings per share. The company’s revenue for the quarter was up 24.7% compared to the same quarter last year. On average, sell-side analysts predict that Wolverine World Wide will post 2.57 EPS for the current year.
In related news, Director Brenda J. Lauderback sold 4,975 shares of the company’s stock in a transaction that occurred on Monday, February 28th. The stock was sold at an average price of $23.34, for a total value of $116,116.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey M. Boromisa sold 4,788 shares of the company’s stock in a transaction that occurred on Tuesday, March 8th. The shares were sold at an average price of $22.02, for a total value of $105,431.76. The disclosure for this sale can be found here. Corporate insiders own 4.40% of the company’s stock.
Several large investors have recently made changes to their positions in WWW. Moors & Cabot Inc. purchased a new position in shares of Wolverine World Wide during the third quarter valued at approximately $145,000. Wellington Management Group LLP boosted its holdings in shares of Wolverine World Wide by 150.8% in the third quarter. Wellington Management Group LLP now owns 2,269,198 shares of the textile maker’s stock valued at $67,713,000 after purchasing an additional 1,364,335 shares during the period. Diamond Hill Capital Management Inc. boosted its holdings in shares of Wolverine World Wide by 66.9% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 2,396,894 shares of the textile maker’s stock valued at $69,055,000 after purchasing an additional 960,954 shares during the period. Norges Bank purchased a new stake in shares of Wolverine World Wide in the fourth quarter valued at approximately $21,948,000. Finally, Invesco Ltd. boosted its holdings in shares of Wolverine World Wide by 15.1% in the third quarter. Invesco Ltd. now owns 3,002,609 shares of the textile maker’s stock valued at $89,598,000 after purchasing an additional 394,189 shares during the period. Institutional investors and hedge funds own 92.45% of the company’s stock.
Several research firms recently issued reports on WWW. B. Riley lowered their price objective on Wolverine World Wide from $37.00 to $35.00 in a research report on Thursday, February 24th. Telsey Advisory Group lowered their price objective on Wolverine World Wide from $32.00 to $30.00 and set a “market perform” rating on the stock in a research report on Thursday, February 24th. Zacks Investment Research raised Wolverine World Wide from a “sell” rating to a “buy” rating and set a $28.00 price objective on the stock in a research report on Thursday, January 13th. Robert W. Baird cut Wolverine World Wide from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $45.00 to $33.00 in a research report on Tuesday, January 4th. Finally, Piper Sandler lowered their price target on Wolverine World Wide from $34.00 to $28.00 and set a “neutral” rating on the stock in a report on Wednesday, February 23rd. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $36.30.
Wolverine World Wide Company Profile (Get Rating)
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. The company operates through two segments, Wolverine Michigan Group and Wolverine Boston Group.
- Get a free copy of the StockNews.com research report on Wolverine World Wide (WWW)
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