Wolverine World Wide (NYSE:WWW) Trading Down 15.3% – Should You Sell?

Wolverine World Wide, Inc. (NYSE:WWW)’s share price fell 15.3% during trading on Thursday . The company traded as low as $12.53 and last traded at $12.36. 128,221 shares changed hands during trading, a decline of 90% from the average session volume of 1,238,452 shares. The stock had previously closed at $14.60.

Wall Street Analyst Weigh In

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

Wolverine World Wide Stock Performance

The company has a 50-day moving average price of $16.93 and a two-hundred day moving average price of $18.99. The company has a market capitalization of $940.82 million, a PE ratio of 21.11 and a beta of 1.93. The company has a quick ratio of 0.77, a current ratio of 1.29 and a debt-to-equity ratio of 1.79.

Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings results on Wednesday, February 19th. The textile maker reported $0.42 EPS for the quarter, hitting analysts’ consensus estimates of $0.42. The firm had revenue of $494.70 million for the quarter, compared to analyst estimates of $485.74 million. Wolverine World Wide had a net margin of 2.73% and a return on equity of 26.81%. The business’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.30) EPS. Analysts predict that Wolverine World Wide, Inc. will post 1.23 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, May 1st. Stockholders of record on Tuesday, April 1st will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date of this dividend is Tuesday, April 1st. Wolverine World Wide’s dividend payout ratio (DPR) is presently 72.73%.

Institutional Investors Weigh In On Wolverine World Wide

Large investors have recently made changes to their positions in the business. Pacer Advisors Inc. purchased a new stake in Wolverine World Wide in the fourth quarter worth $64,943,000. JPMorgan Chase & Co. increased its position in Wolverine World Wide by 1,263.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,426,942 shares of the textile maker’s stock valued at $24,857,000 after buying an additional 1,322,254 shares in the last quarter. Capital Research Global Investors bought a new stake in Wolverine World Wide in the fourth quarter worth $13,943,000. Nuveen Asset Management LLC boosted its stake in Wolverine World Wide by 179.1% in the 4th quarter. Nuveen Asset Management LLC now owns 628,338 shares of the textile maker’s stock worth $13,949,000 after purchasing an additional 403,176 shares in the last quarter. Finally, First Trust Advisors LP bought a new stake in Wolverine World Wide during the 4th quarter valued at about $7,862,000. 90.25% of the stock is currently 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.