Wolverine World Wide (NYSE:WWW) Shares Up 11.8%

Wolverine World Wide, Inc. (NYSE:WWW - Get Free Report)'s share price was up 11.8% during trading on Wednesday . The company traded as high as $13.20 and last traded at $12.77. Approximately 607,622 shares were traded during trading, a decline of 30% from the average daily volume of 870,831 shares. The stock had previously closed at $11.42.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Telsey Advisory Group reissued a "market perform" rating and issued a $10.00 target price on shares of Wolverine World Wide in a research report on Wednesday. Seaport Res Ptn raised shares of Wolverine World Wide from a "neutral" rating to a "buy" rating in a report on Monday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Wolverine World Wide has an average rating of "Hold" and an average target price of $10.63.

Wolverine World Wide Price Performance

The stock has a market capitalization of $1.02 billion, a PE ratio of -24.96 and a beta of 1.73. The business has a fifty day moving average price of $10.26 and a 200-day moving average price of $9.27. The company has a current ratio of 1.18, a quick ratio of 0.75 and a debt-to-equity ratio of 2.02.

Wolverine World Wide (NYSE:WWW - Get Free Report) last issued its earnings results on Wednesday, February 21st. The textile maker reported ($0.30) EPS for the quarter, missing analysts' consensus estimates 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 business had revenue of $526.70 million during the quarter, compared to analysts' expectations of $520.12 million. During the same quarter in the previous year, the business earned ($0.15) EPS. Wolverine World Wide's revenue for the quarter was down 20.8% compared to the same quarter last year. Research analysts expect 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. Shareholders of record on Monday, July 1st will be given a $0.10 dividend. The ex-dividend date of this dividend is Monday, July 1st. This represents a $0.40 annualized dividend and a yield of 3.14%. Wolverine World Wide's payout ratio is currently -78.43%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Wolverine World Wide by 1.2% in the third quarter. Vanguard Group Inc. now owns 9,282,319 shares of the textile maker's stock valued at $74,815,000 after acquiring an additional 109,833 shares during the period. Charles Schwab Investment Management Inc. raised its position in Wolverine World Wide by 6.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,771,991 shares of the textile maker's stock valued at $15,753,000 after purchasing an additional 103,368 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its position in shares of Wolverine World Wide by 2.1% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,542,637 shares of the textile maker's stock worth $12,434,000 after buying an additional 32,100 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its stake in shares of Wolverine World Wide by 13.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,446,579 shares of the textile maker's stock valued at $11,659,000 after buying an additional 175,039 shares during the period. Finally, Callodine Capital Management LP purchased a new stake in Wolverine World Wide in the third quarter worth $8,060,000. 90.25% of the stock is 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.