Wolverine World Wide (NYSE:WWW) Shares Down 3.7% – Should You Sell?

Shares of Wolverine World Wide, Inc. (NYSE:WWW) were down 3.7% during trading on Monday . The company traded as low as $16.43 and last traded at $16.51. Approximately 93,358 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 1,101,161 shares. The stock had previously closed at $17.15.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Robert W. Baird boosted their price objective on Wolverine World Wide from $13.00 to $15.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Piper Sandler reaffirmed an “overweight” rating and set a $18.00 price objective on shares of Wolverine World Wide in a report on Friday, August 23rd. Argus raised shares of Wolverine World Wide to a “hold” rating in a research note on Friday, August 16th. Telsey Advisory Group reiterated a “market perform” rating and issued a $14.00 price objective on shares of Wolverine World Wide in a research note on Wednesday, August 7th. Finally, UBS Group upgraded Wolverine World Wide from a “neutral” rating to a “buy” rating and raised their target price for the stock from $13.00 to $20.00 in a research report on Friday, July 19th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.86.

Wolverine World Wide Price Performance

The stock has a fifty day moving average of $14.93 and a 200-day moving average of $13.39. The company has a quick ratio of 0.74, a current ratio of 1.19 and a debt-to-equity ratio of 2.14. The firm has a market capitalization of $1.31 billion, a P/E ratio of -15.51 and a beta of 1.77.

Wolverine World Wide (NYSE:WWW) last released its quarterly earnings results on Wednesday, August 7th. The textile maker reported $0.15 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $411.20 million. During the same period in the prior year, the firm earned $0.19 earnings per share. Wolverine World Wide’s revenue was down 27.8% compared to the same quarter last year. Equities analysts predict that Wolverine World Wide, Inc. will post 0.85 EPS for the current fiscal year.

Wolverine World Wide Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 1st will be given a $0.10 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $0.40 dividend on an annualized basis and a yield of 2.45%. Wolverine World Wide’s payout ratio is -37.74%.

Insiders Place Their Bets

In related news, insider David A. Latchana sold 7,706 shares of Wolverine World Wide stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $17.02, for a total transaction of $131,156.12. Following the completion of the sale, the insider now directly owns 13,889 shares of the company’s stock, valued at $236,390.78. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.28% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Future Financial Wealth Managment LLC acquired a new stake in Wolverine World Wide in the third quarter worth $35,000. GAMMA Investing LLC increased its position in shares of Wolverine World Wide by 42.5% in the 1st quarter. GAMMA Investing LLC now owns 4,504 shares of the textile maker’s stock valued at $50,000 after buying an additional 1,343 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in Wolverine World Wide during the 2nd quarter worth $68,000. Cedar Mountain Advisors LLC bought a new position in Wolverine World Wide during the third quarter worth about $70,000. Finally, Central Pacific Bank Trust Division acquired a new position in Wolverine World Wide in the first quarter valued at about $81,000. 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.