Wolverine World Wide (NYSE:WWW) Hits New 1-Year High - Time to Buy?

Key Points

• Wolverine World Wide shares reached a new 52-week high at $26.90, marking a significant jump from its previous close of $23.50, with a trading volume of 741,401 shares.
• Analysts have mixed outlooks on the stock, with UBS increasing its price target to $30 while Stifel Nicolaus lowered it to $19, resulting in an overall consensus rating of "Moderate Buy."
• The company announced a quarterly dividend of $0.10, set to be paid on November 3rd, which reflects a 1.5% dividend yield based on an annualized dividend of $0.40.

Wolverine World Wide, Inc. (NYSE:WWW - Get Free Report) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $26.90 and last traded at $25.99, with a volume of 741401 shares trading hands. The stock had previously closed at $23.50.

Analyst Upgrades and Downgrades

WWW has been the topic of several analyst reports. Baird R W upgraded shares of Wolverine World Wide from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 21st. Argus raised shares of Wolverine World Wide from a "hold" rating to a "buy" rating and set a $20.00 target price on the stock in a research note on Friday, May 16th. UBS Group raised their target price on Wolverine World Wide from $30.00 to $36.00 and gave the company a "buy" rating in a research report on Thursday. Robert W. Baird upped their price target on Wolverine World Wide from $15.00 to $20.00 and gave the stock an "outperform" rating in a report on Tuesday, May 6th. Finally, Telsey Advisory Group reiterated a "market perform" rating and set a $29.00 price target (up previously from $17.00) on shares of Wolverine World Wide in a research report on Wednesday. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $25.38.

Wolverine World Wide Price Performance

The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.77 and a current ratio of 1.24. The stock has a market capitalization of $2.20 billion, a PE ratio of 26.57 and a beta of 1.74. The stock's 50 day moving average is $19.85 and its two-hundred day moving average is $17.09.

Wolverine World Wide (NYSE:WWW - Get Free Report) last announced its earnings results on Wednesday, August 6th. The textile maker reported $0.35 EPS for the quarter, beating analysts' consensus estimates of $0.23 by $0.12. The business had revenue of $474.20 million during the quarter, compared to analysts' expectations of $447.82 million. Wolverine World Wide had a return on equity of 31.99% and a net margin of 4.73%. The business's revenue was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.15 earnings per share. On average, equities analysts anticipate that Wolverine World Wide, Inc. will post 1.23 EPS for the current fiscal year.

Wolverine World Wide Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Wednesday, October 1st will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Wednesday, October 1st. Wolverine World Wide's payout ratio is 39.22%.

Institutional Investors Weigh In On Wolverine World Wide

Large investors have recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. acquired a new position in Wolverine World Wide during the first quarter worth about $608,000. Illinois Municipal Retirement Fund lifted its stake in Wolverine World Wide by 8.4% in the 1st quarter. Illinois Municipal Retirement Fund now owns 44,317 shares of the textile maker's stock worth $616,000 after purchasing an additional 3,441 shares in the last quarter. Nuveen Asset Management LLC boosted its holdings in shares of Wolverine World Wide by 179.1% during 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 during the last quarter. Jupiter Asset Management Ltd. acquired a new position in shares of Wolverine World Wide during the 1st quarter worth approximately $3,440,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Wolverine World Wide in the fourth quarter valued at approximately $204,000. Hedge funds and other institutional investors own 90.25% of the company's stock.

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.