Wolverine World Wide, Inc. (NYSE:WWW) Short Interest Update

Wolverine World Wide, Inc. (NYSE:WWW) saw a large growth in short interest in February. As of February 28th, there was short interest totalling 8,040,000 shares, a growth of 33.3% from the February 13th total of 6,030,000 shares. Currently, 10.2% of the shares of the stock are short sold. Based on an average daily volume of 1,340,000 shares, the short-interest ratio is currently 6.0 days.

Institutional Trading of Wolverine World Wide

Hedge funds have recently bought and sold shares of the stock. Savant Capital LLC bought a new position in shares of Wolverine World Wide in the fourth quarter valued at $205,000. Pacer Advisors Inc. acquired a new position in Wolverine World Wide during the fourth quarter worth about $64,943,000. Landscape Capital Management L.L.C. acquired a new position in shares of Wolverine World Wide in the third quarter valued at approximately $3,034,000. 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 purchasing an additional 1,322,254 shares during the period. Finally, XTX Topco Ltd increased its position in Wolverine World Wide by 338.6% during the 3rd quarter. XTX Topco Ltd now owns 47,346 shares of the textile maker’s stock valued at $825,000 after purchasing an additional 36,551 shares during the period. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WWW has been the topic of several research analyst reports. Stifel Nicolaus upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating and boosted their price objective for the company from $21.00 to $29.00 in a report on Wednesday, December 11th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $23.00 price target on shares of Wolverine World Wide in a report on Wednesday, February 19th. StockNews.com cut Wolverine World Wide from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th. Robert W. Baird dropped their price target 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, UBS Group decreased their price target on Wolverine World Wide from $29.00 to $26.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.50.

Wolverine World Wide Stock Performance

NYSE:WWW traded down $0.30 during trading hours on Tuesday, hitting $13.34. 393,180 shares of the company traded hands, compared to its average volume of 1,344,206. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of 24.25 and a beta of 1.93. Wolverine World Wide has a twelve month low of $9.06 and a twelve month high of $24.64. The firm has a 50-day moving average of $19.03 and a 200 day moving average of $19.01. The company has a current ratio of 1.29, a quick ratio of 0.77 and a debt-to-equity ratio of 1.79.

Wolverine World Wide (NYSE:WWW) last posted its earnings results on Wednesday, February 19th. The textile maker reported $0.42 earnings per share 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 business had revenue of $494.70 million for the quarter, compared to analyst estimates of $485.74 million. During the same quarter in the prior year, the firm earned ($0.30) EPS. The firm’s quarterly revenue was down 6.1% compared to the same quarter last year. On average, analysts forecast that Wolverine World Wide will post 1.23 EPS for the current year.

Wolverine World Wide Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.40 annualized dividend and a yield of 3.00%. Wolverine World Wide’s dividend payout ratio (DPR) is currently 72.73%.

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.