Wolverine World Wide (NYSE:WWW) Trading Down 7.5% - Time to Sell?

Wolverine World Wide, Inc. (NYSE:WWW - Get Free Report)'s share price dropped 7.5% during trading on Friday . The stock traded as low as $17.30 and last traded at $17.08. Approximately 583,471 shares traded hands during trading, a decline of 57% from the average daily volume of 1,367,631 shares. The stock had previously closed at $18.46.

Wall Street Analysts Forecast Growth

WWW has been the topic of several analyst reports. Robert W. Baird lifted their price objective on Wolverine World Wide from $15.00 to $20.00 and gave the stock an "outperform" rating in a report on Tuesday, May 6th. Piper Sandler dropped their price objective on Wolverine World Wide from $27.00 to $18.00 and set an "overweight" rating on the stock in a report on Friday, April 11th. UBS Group lifted their price objective on Wolverine World Wide from $18.00 to $22.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Baird R W upgraded Wolverine World Wide from a "hold" rating to a "strong-buy" rating in a report on Monday, April 21st. Finally, Telsey Advisory Group restated a "market perform" rating and set a $17.00 price objective on shares of Wolverine World Wide in a report on Friday, May 9th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $19.75.

Wolverine World Wide Stock Performance

The stock has a market capitalization of $1.40 billion, a P/E ratio of 31.36 and a beta of 1.71. The stock has a 50 day moving average of $14.87 and a 200 day moving average of $17.75. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.77 and a current ratio of 1.29.

Wolverine World Wide (NYSE:WWW - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The textile maker reported $0.18 EPS for the quarter, topping analysts' consensus estimates of $0.11 by $0.07. The firm had revenue of $412.30 million during the quarter, compared to the consensus estimate of $395.94 million. Wolverine World Wide had a return on equity of 26.81% and a net margin of 2.73%. The firm's revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.11 EPS. Equities analysts predict that Wolverine World Wide, Inc. will post 1.23 EPS for the current year.

Wolverine World Wide Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Tuesday, July 1st will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $0.40 dividend on an annualized basis and a yield of 2.32%. Wolverine World Wide's dividend payout ratio (DPR) is presently 45.98%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in WWW. Callodine Capital Management LP boosted its position in Wolverine World Wide by 60.2% during the 1st quarter. Callodine Capital Management LP now owns 3,047,071 shares of the textile maker's stock worth $42,385,000 after acquiring an additional 1,145,455 shares during the period. JPMorgan Chase & Co. boosted its position in Wolverine World Wide by 70.0% during the 4th quarter. JPMorgan Chase & Co. now owns 2,425,858 shares of the textile maker's stock worth $53,854,000 after acquiring an additional 998,916 shares during the period. Capital Research Global Investors acquired a new position in Wolverine World Wide during the 4th quarter worth $13,943,000. Goldman Sachs Group Inc. boosted its position in Wolverine World Wide by 55.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,504,571 shares of the textile maker's stock worth $20,929,000 after acquiring an additional 537,854 shares during the period. Finally, WCM Investment Management LLC acquired a new position in Wolverine World Wide during the 1st quarter worth $7,164,000. Institutional investors and hedge funds own 90.25% of the company's stock.

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.