Wolverine World Wide (NYSE:WWW) Shares Up 4% – Still a Buy?

Wolverine World Wide, Inc. (NYSE:WWW)’s stock price rose 4% on Friday . The company traded as high as $10.96 and last traded at $11.56. Approximately 536,938 shares were traded during trading, a decline of 57% from the average daily volume of 1,251,541 shares. The stock had previously closed at $11.12.

Analyst Ratings Changes

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

Wolverine World Wide Price Performance

The stock’s 50 day moving average is $16.47 and its two-hundred day moving average is $18.94. The stock has a market capitalization of $950.70 million, a PE ratio of 21.33 and a beta of 1.93. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.29 and a quick ratio of 0.77.

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

Wolverine World Wide Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders 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 3.41%. The ex-dividend date is Tuesday, April 1st. Wolverine World Wide’s dividend payout ratio (DPR) is 72.73%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in WWW. Wealth Enhancement Advisory Services LLC acquired a new position in Wolverine World Wide in the fourth quarter valued at approximately $204,000. Mackenzie Financial Corp lifted its position in shares of Wolverine World Wide by 247.2% during the 4th quarter. Mackenzie Financial Corp now owns 40,616 shares of the textile maker’s stock worth $902,000 after buying an additional 28,917 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Wolverine World Wide by 9.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 200,818 shares of the textile maker’s stock valued at $4,458,000 after buying an additional 16,710 shares in the last quarter. Squarepoint Ops LLC grew its position in shares of Wolverine World Wide by 94.4% in the 4th quarter. Squarepoint Ops LLC now owns 376,071 shares of the textile maker’s stock valued at $8,349,000 after buying an additional 182,631 shares during the last quarter. Finally, Teza Capital Management LLC acquired a new stake in Wolverine World Wide during the 4th quarter worth $255,000. 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.