Wolverine World Wide (NYSE:WWW) Stock Price Down 7.5% - Should You Sell?

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

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Robert W. Baird increased their price target on shares of Wolverine World Wide from $15.00 to $20.00 and gave the company an "outperform" rating in a research note on Tuesday, May 6th. Argus raised shares of Wolverine World Wide from a "hold" rating to a "buy" rating and set a $20.00 price target for the company in a research note on Friday, May 16th. Piper Sandler dropped their price target on shares of Wolverine World Wide from $27.00 to $18.00 and set an "overweight" rating for the company in a research note on Friday, April 11th. Baird R W raised shares of Wolverine World Wide from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 21st. Finally, Stifel Nicolaus lowered their price objective on shares of Wolverine World Wide from $27.00 to $19.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong 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 target price of $19.75.

Wolverine World Wide Price Performance

The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.77 and a current ratio of 1.29. The stock has a market cap of $1.45 billion, a PE ratio of 32.52 and a beta of 1.71. The stock's 50-day moving average is $15.03 and its two-hundred day moving average is $17.63.

Wolverine World Wide (NYSE:WWW - Get Free Report) last released its earnings results on Thursday, May 8th. The textile maker reported $0.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.11 by $0.07. The company had revenue of $412.30 million for the quarter, compared to analyst estimates of $395.94 million. Wolverine World Wide had a net margin of 2.73% and a return on equity of 26.81%. The firm's quarterly 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. On average, equities analysts predict that Wolverine World Wide, Inc. will post 1.23 earnings per share for the current year.

Wolverine World Wide Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Tuesday, July 1st will be issued 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 2.24%. Wolverine World Wide's dividend payout ratio (DPR) is presently 45.98%.

Institutional Investors Weigh In On Wolverine World Wide

Hedge funds have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. acquired a new stake in Wolverine World Wide during the 4th quarter worth approximately $25,000. Signaturefd LLC raised its holdings in shares of Wolverine World Wide by 88.8% in the 4th quarter. Signaturefd LLC now owns 1,450 shares of the textile maker's stock valued at $32,000 after purchasing an additional 682 shares in the last quarter. Natixis acquired a new stake in shares of Wolverine World Wide in the 4th quarter valued at $41,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Wolverine World Wide in the 4th quarter valued at $64,000. Finally, Smartleaf Asset Management LLC raised its holdings in shares of Wolverine World Wide by 375.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 5,552 shares of the textile maker's stock valued at $122,000 after purchasing an additional 4,384 shares in the last quarter. 90.25% of the stock is currently owned by institutional investors and hedge funds.

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.