Wolverine World Wide (NYSE:WWW) Sets New 12-Month High – Should You Buy?

Wolverine World Wide, Inc. (NYSE:WWW)’s stock price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $29.05 and last traded at $29.44, with a volume of 40519 shares. The stock had previously closed at $28.87.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on WWW. Telsey Advisory Group reissued a “market perform” rating and issued a $29.00 target price (up from $17.00) on shares of Wolverine World Wide in a research report on Wednesday, August 6th. UBS Group raised their price target on Wolverine World Wide from $30.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, August 7th. Wall Street Zen upgraded Wolverine World Wide from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Robert W. Baird raised their price target on Wolverine World Wide from $15.00 to $20.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 6th. Finally, Piper Sandler restated an “overweight” rating and set a $25.00 price target (up previously from $20.00) on shares of Wolverine World Wide in a research note on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Wolverine World Wide presently has a consensus rating of “Buy” and a consensus price target of $25.38.

Wolverine World Wide Stock Up 6.4%

The firm has a 50 day simple moving average of $22.21 and a two-hundred day simple moving average of $17.48. The company has a market capitalization of $2.50 billion, a PE ratio of 30.12 and a beta of 1.74. The company has a current ratio of 1.24, a quick ratio of 0.75 and a debt-to-equity ratio of 1.58.

Wolverine World Wide (NYSE:WWW) last announced its earnings results on Wednesday, August 6th. The textile maker reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.12. Wolverine World Wide had a return on equity of 31.99% and a net margin of 4.73%.The company had revenue of $474.20 million for the quarter, compared to the consensus estimate of $447.82 million. During the same period last year, the business posted $0.15 EPS. The company’s revenue was up 11.5% on a year-over-year basis. Research analysts expect that Wolverine World Wide, Inc. will post 1.23 EPS for the current year.

Wolverine World Wide Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Wednesday, October 1st will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Wednesday, October 1st. Wolverine World Wide’s dividend payout ratio (DPR) is 39.22%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Wolverine World Wide by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 9,005,788 shares of the textile maker’s stock valued at $125,271,000 after purchasing an additional 45,779 shares during the last quarter. Earnest Partners LLC boosted its stake in shares of Wolverine World Wide by 0.8% in the first quarter. Earnest Partners LLC now owns 5,270,775 shares of the textile maker’s stock valued at $73,316,000 after buying an additional 41,857 shares in the last quarter. Callodine Capital Management LP boosted its stake in shares of Wolverine World Wide by 41.0% in the second quarter. Callodine Capital Management LP now owns 4,297,586 shares of the textile maker’s stock valued at $77,700,000 after buying an additional 1,250,515 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Wolverine World Wide by 1.8% in the second quarter. Geode Capital Management LLC now owns 1,869,339 shares of the textile maker’s stock valued at $33,802,000 after buying an additional 32,493 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of Wolverine World Wide by 8.6% in the second quarter. Bank of America Corp DE now owns 1,772,076 shares of the textile maker’s stock valued at $32,039,000 after buying an additional 139,913 shares in the last quarter. 90.25% of the stock is currently owned by hedge funds and other institutional investors.

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.