Wolverine World Wide (NYSE:WWW) Shares Gap Up to $10.75

Wolverine World Wide, Inc. (NYSE:WWW) shares gapped up prior to trading on Monday . The stock had previously closed at $10.75, but opened at $11.26. Wolverine World Wide shares last traded at $11.48, with a volume of 204,849 shares.

Wall Street Analysts Forecast Growth

Separately, Telsey Advisory Group reissued a “market perform” rating and issued a $10.00 price target on shares of Wolverine World Wide in a research note on Wednesday, May 1st. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $10.63.

Wolverine World Wide Stock Performance

The firm has a 50 day moving average of $10.14 and a two-hundred day moving average of $9.20. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.18 and a quick ratio of 0.75. The stock has a market cap of $913.37 million, a PE ratio of -22.33 and a beta of 1.73.

Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings data on Wednesday, February 21st. The textile maker reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.03). The firm had revenue of $526.70 million during the quarter, compared to analysts’ expectations of $520.12 million. Wolverine World Wide had a negative net margin of 1.77% and a positive return on equity of 1.45%. Wolverine World Wide’s quarterly revenue was down 20.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.15) EPS. Research analysts predict that Wolverine World Wide, Inc. will post 0.77 EPS for the current fiscal year.

Wolverine World Wide Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Monday, July 1st will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 3.50%. The ex-dividend date of this dividend is Monday, July 1st. Wolverine World Wide’s dividend payout ratio (DPR) is -78.43%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in WWW. J.W. Cole Advisors Inc. increased its holdings in Wolverine World Wide by 17.4% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 20,651 shares of the textile maker’s stock valued at $166,000 after purchasing an additional 3,060 shares in the last quarter. Strs Ohio acquired a new position in Wolverine World Wide during the 3rd quarter valued at about $585,000. Nisa Investment Advisors LLC raised its stake in shares of Wolverine World Wide by 11.1% during the third quarter. Nisa Investment Advisors LLC now owns 48,730 shares of the textile maker’s stock valued at $393,000 after purchasing an additional 4,880 shares in the last quarter. Jump Financial LLC boosted its holdings in shares of Wolverine World Wide by 30.0% in the third quarter. Jump Financial LLC now owns 32,441 shares of the textile maker’s stock valued at $261,000 after acquiring an additional 7,483 shares in the last quarter. Finally, Fox Run Management L.L.C. acquired a new position in shares of Wolverine World Wide during the third quarter valued at approximately $164,000. Institutional investors and hedge funds 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.