Wolverine World Wide (NYSE:WWW) Trading 11.8% Higher

Wolverine World Wide, Inc. (NYSE:WWW) rose 11.8% during mid-day trading on Wednesday . The stock traded as high as $13.20 and last traded at $12.77. Approximately 607,622 shares changed hands during mid-day trading, a decline of 30% from the average daily volume of 870,831 shares. The stock had previously closed at $11.42.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on WWW. Robert W. Baird lifted their price target on Wolverine World Wide from $9.00 to $13.00 and gave the stock a “neutral” rating in a research report on Thursday. Seaport Res Ptn raised shares of Wolverine World Wide from a “neutral” rating to a “buy” rating in a report on Monday. UBS Group boosted their price objective on Wolverine World Wide from $11.00 to $13.00 and gave the company a “neutral” rating in a report on Thursday. Williams Trading upgraded Wolverine World Wide from a “hold” rating to a “buy” rating and lifted their price target for the company from $11.00 to $16.00 in a research report on Thursday. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $10.00 price objective on shares of Wolverine World Wide in a research report on Wednesday. Nine analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $11.67.

Wolverine World Wide Stock Performance

The stock has a market cap of $1.07 billion, a price-to-earnings ratio of -26.23 and a beta of 1.73. 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 firm has a fifty day moving average of $10.32 and a 200 day moving average of $9.30.

Wolverine World Wide (NYSE:WWW) last posted its quarterly earnings results on Wednesday, February 21st. The textile maker reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.03). Wolverine World Wide had a positive return on equity of 1.45% and a negative net margin of 1.77%. The company had revenue of $526.70 million for the quarter, compared to analysts’ expectations of $520.12 million. During the same quarter in the prior year, the firm earned ($0.15) EPS. The firm’s revenue was down 20.8% on a year-over-year basis. As a group, sell-side analysts forecast that Wolverine World Wide, Inc. will post 0.77 EPS for the current year.

Wolverine World Wide Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Monday, July 1st will be issued a dividend of $0.10 per share. The ex-dividend date is Monday, July 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.99%. Wolverine World Wide’s dividend payout ratio is currently -78.43%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Pacific Ridge Capital Partners LLC raised its position in Wolverine World Wide by 29.0% in the first quarter. Pacific Ridge Capital Partners LLC now owns 67,482 shares of the textile maker’s stock valued at $756,000 after purchasing an additional 15,190 shares during the period. State Board of Administration of Florida Retirement System raised its holdings in Wolverine World Wide by 66.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 36,861 shares of the textile maker’s stock valued at $413,000 after buying an additional 14,670 shares during the period. ProShare Advisors LLC lifted its position in Wolverine World Wide by 7.5% in the first quarter. ProShare Advisors LLC now owns 15,708 shares of the textile maker’s stock valued at $176,000 after buying an additional 1,090 shares during the last quarter. Sei Investments Co. boosted its stake in Wolverine World Wide by 1.8% during the first quarter. Sei Investments Co. now owns 688,530 shares of the textile maker’s stock worth $7,718,000 after buying an additional 12,266 shares during the period. Finally, Texas Permanent School Fund Corp increased its position in shares of Wolverine World Wide by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 69,168 shares of the textile maker’s stock valued at $775,000 after acquiring an additional 946 shares during the last quarter. 90.25% of the stock is currently owned by hedge funds and other institutional investors.

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.