Wolverine World Wide (NYSE:WWW) Shares Gap Down - Should You Sell?

Wolverine World Wide, Inc. (NYSE:WWW - Get Free Report)'s stock price gapped down prior to trading on Friday . The stock had previously closed at $16.82, but opened at $16.04. Wolverine World Wide shares last traded at $16.38, with a volume of 94,334 shares traded.

Analysts Set New Price Targets

A number of brokerages have weighed in on WWW. Stifel Nicolaus cut their price objective on shares of Wolverine World Wide from $27.00 to $19.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. UBS Group lifted their target price on shares of Wolverine World Wide from $18.00 to $22.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Baird R W upgraded Wolverine World Wide from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 21st. Piper Sandler cut their price target on Wolverine World Wide from $27.00 to $18.00 and set an "overweight" rating for the company in a report on Friday, April 11th. Finally, Wall Street Zen lowered shares of Wolverine World Wide from a "buy" rating to a "hold" rating in a research report on Tuesday, February 11th. Two research 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 company. According to data from MarketBeat.com, Wolverine World Wide currently has a consensus rating of "Moderate Buy" and a consensus target price of $19.75.

Wolverine World Wide Stock Down 1.1%

The company has a market cap of $1.40 billion, a PE ratio of 31.35 and a beta of 1.62. The company has a quick ratio of 0.77, a current ratio of 1.29 and a debt-to-equity ratio of 1.79. The business has a 50-day simple moving average of $13.74 and a 200-day simple moving average of $18.15.

Wolverine World Wide (NYSE:WWW - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The textile maker reported $0.18 earnings per share for the quarter, beating analysts' consensus estimates of $0.11 by $0.07. The firm 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%. Wolverine World Wide's quarterly revenue was up 4.4% compared to the same quarter last year. During the same period last year, the company posted $0.11 EPS. Equities research analysts anticipate that Wolverine World Wide, Inc. will post 1.23 EPS for the current year.

Wolverine World Wide Dividend Announcement

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 paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date is Tuesday, July 1st. Wolverine World Wide's dividend payout ratio (DPR) is 45.98%.

Hedge Funds Weigh In On Wolverine World Wide

A number of institutional investors have recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. purchased a new position in Wolverine World Wide during the fourth quarter worth about $25,000. Signaturefd LLC increased its position in shares of Wolverine World Wide by 88.8% during the fourth quarter. Signaturefd LLC now owns 1,450 shares of the textile maker's stock worth $32,000 after acquiring an additional 682 shares during the period. Natixis acquired a new stake in Wolverine World Wide in the 4th quarter valued at about $41,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Wolverine World Wide in the fourth quarter valued at approximately $64,000. Finally, KBC Group NV raised its holdings in shares of Wolverine World Wide by 43.8% in the 4th quarter. KBC Group NV now owns 4,303 shares of the textile maker's stock valued at $96,000 after purchasing an additional 1,311 shares in the last quarter. Hedge funds and other institutional investors 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.