Wolverine World Wide (NYSE:WWW) Sets New 52-Week High – What’s Next?

Wolverine World Wide, Inc. (NYSE:WWW)’s share price hit a new 52-week high on Friday . The stock traded as high as $32.80 and last traded at $32.39, with a volume of 162255 shares. The stock had previously closed at $32.01.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on WWW. Wall Street Zen upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Piper Sandler restated an “overweight” rating and issued a $25.00 target price (up from $20.00) on shares of Wolverine World Wide in a research report on Tuesday, August 5th. Telsey Advisory Group restated 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. KeyCorp restated an “overweight” rating and issued a $32.00 target price (up from $25.00) on shares of Wolverine World Wide in a research report on Thursday, August 7th. Finally, Stifel Nicolaus boosted their target price on shares of Wolverine World Wide from $30.00 to $36.00 and gave the company a “buy” rating in a research report on Wednesday, August 27th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $27.50.

Wolverine World Wide Stock Performance

The stock’s 50-day moving average is $25.01 and its 200-day moving average is $18.35. The firm has a market capitalization of $2.59 billion, a price-to-earnings ratio of 31.21 and a beta of 1.80. 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 released its quarterly earnings data on Wednesday, August 6th. The textile maker reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.12. The business had revenue of $474.20 million during the quarter, compared to analysts’ expectations of $447.82 million. Wolverine World Wide had a net margin of 4.73% and a return on equity of 31.99%. The firm’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.15 EPS. On average, analysts predict that Wolverine World Wide, Inc. will post 1.23 EPS for the current fiscal year.

Wolverine World Wide Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Wednesday, October 1st will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, October 1st. Wolverine World Wide’s dividend payout ratio is currently 39.22%.

Insiders Place Their Bets

In other news, Director Nicholas T. Long sold 12,854 shares of the company’s stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $31.84, for a total value of $409,271.36. Following the sale, the director directly owned 76,268 shares of the company’s stock, valued at approximately $2,428,373.12. This represents a 14.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Brenda J. Lauderback sold 12,854 shares of the company’s stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $32.14, for a total transaction of $413,127.56. Following the completion of the sale, the director directly owned 48,675 shares in the company, valued at approximately $1,564,414.50. This represents a 20.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.28% of the company’s stock.

Institutional Investors Weigh In On Wolverine World Wide

A number of institutional investors have recently modified their holdings of the company. Squarepoint Ops LLC boosted its stake in shares of Wolverine World Wide by 67.6% in the 2nd quarter. Squarepoint Ops LLC now owns 332,870 shares of the textile maker’s stock valued at $6,018,000 after purchasing an additional 134,219 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of Wolverine World Wide by 1.3% in the 2nd quarter. Thrivent Financial for Lutherans now owns 59,742 shares of the textile maker’s stock valued at $1,074,000 after purchasing an additional 782 shares during the last quarter. Nomura Holdings Inc. bought a new stake in shares of Wolverine World Wide in the 2nd quarter valued at $1,090,000. Public Sector Pension Investment Board boosted its stake in Wolverine World Wide by 7.1% during the second quarter. Public Sector Pension Investment Board now owns 308,361 shares of the textile maker’s stock worth $5,575,000 after acquiring an additional 20,563 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in Wolverine World Wide by 109.0% during the second quarter. Tower Research Capital LLC TRC now owns 10,775 shares of the textile maker’s stock worth $195,000 after acquiring an additional 5,620 shares in the last quarter. 90.25% of the stock is owned by 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.