Wolverine World Wide (NYSE:WWW) Trading Down 15.3% – Time to Sell?

Shares of Wolverine World Wide, Inc. (NYSE:WWW) traded down 15.3% on Thursday . The stock traded as low as $12.53 and last traded at $12.36. 128,221 shares were traded during mid-day trading, a decline of 90% from the average session volume of 1,238,452 shares. The stock had previously closed at $14.60.

Analyst Upgrades and Downgrades

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

Wolverine World Wide Stock Performance

The firm 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. The business has a 50-day simple moving average of $16.47 and a 200-day simple moving average of $18.91.

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

Wolverine World Wide Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.41%. Wolverine World Wide’s dividend payout ratio is 72.73%.

Institutional Investors Weigh In On Wolverine World Wide

A number of institutional investors and hedge funds have recently modified their holdings of the business. SBI Securities Co. Ltd. bought a new stake in shares of Wolverine World Wide during the fourth quarter worth $25,000. Signaturefd LLC increased its stake in Wolverine World Wide by 88.8% in the 4th quarter. Signaturefd LLC now owns 1,450 shares of the textile maker’s stock worth $32,000 after buying an additional 682 shares during the period. Natixis bought a new stake in Wolverine World Wide during the 4th quarter valued at about $41,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Wolverine World Wide in the 4th quarter valued at about $64,000. Finally, KBC Group NV grew its stake in Wolverine World Wide by 43.8% in the 4th quarter. KBC Group NV now owns 4,303 shares of the textile maker’s stock worth $96,000 after acquiring an additional 1,311 shares in the last quarter. 90.25% of the stock is 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.