Wolverine World Wide (NYSE:WWW) Shares Gap Up - Should You Buy?

Key Points

• Wolverine World Wide shares gapped up, opening at $23.38 after a previous close of $22.16, and last traded at $22.21 with a volume of 110,431 shares.
• The company's quarterly earnings exceeded expectations, reporting $0.18 EPS against a consensus estimate of $0.11, with revenue of $412.30 million, up 4.4% year-over-year.
• Analysts have mixed ratings on the stock, with a consensus of "Moderate Buy" and an average price target of $20.75, while recent price targets vary from $17.00 to $30.00.

Wolverine World Wide, Inc. (NYSE:WWW - Get Free Report) shares gapped up before the market opened on Monday . The stock had previously closed at $22.16, but opened at $23.38. Wolverine World Wide shares last traded at $22.21, with a volume of 110,431 shares trading hands.

Analyst Ratings Changes

A number of research analysts recently issued reports on WWW shares. Piper Sandler reiterated an "overweight" rating and set a $25.00 price objective (up from $20.00) on shares of Wolverine World Wide in a report on Tuesday. Baird R W upgraded Wolverine World Wide from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 21st. UBS Group upped their target price on Wolverine World Wide from $22.00 to $30.00 and gave the company a "buy" rating in a report on Monday, July 28th. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $17.00 price target on shares of Wolverine World Wide in a report on Wednesday. Finally, Argus upgraded Wolverine World Wide from a "hold" rating to a "buy" rating and set a $20.00 price target on the stock in a research report on Friday, May 16th. Two 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's stock. Based on data from MarketBeat, Wolverine World Wide presently has an average rating of "Moderate Buy" and an average price target of $21.63.

Wolverine World Wide Stock Up 13.7%

The company has a quick ratio of 0.77, a current ratio of 1.26 and a debt-to-equity ratio of 1.76. The business's 50-day moving average is $19.45 and its 200-day moving average is $16.99. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of 30.69 and a beta of 1.74.

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 the consensus estimate of $0.11 by $0.07. Wolverine World Wide had a net margin of 4.15% and a return on equity of 28.74%. The firm had revenue of $412.30 million for the quarter, compared to analyst estimates of $395.94 million. During the same period in the prior year, the business posted $0.11 EPS. The business's revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Wednesday, October 1st will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Wednesday, October 1st. Wolverine World Wide's payout ratio is currently 45.98%.

Institutional Trading of Wolverine World Wide

Institutional investors and hedge funds have recently modified their holdings of the business. Natixis purchased a new stake in shares of Wolverine World Wide in the fourth quarter worth approximately $41,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Wolverine World Wide during the fourth quarter worth $64,000. Hilltop National Bank bought a new position in shares of Wolverine World Wide during the second quarter valued at $85,000. PNC Financial Services Group Inc. raised its holdings in shares of Wolverine World Wide by 10.4% in the first quarter. PNC Financial Services Group Inc. now owns 9,132 shares of the textile maker's stock valued at $127,000 after buying an additional 863 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in Wolverine World Wide by 48.7% in the second quarter. GAMMA Investing LLC now owns 8,000 shares of the textile maker's stock worth $145,000 after purchasing an additional 2,619 shares during the period. 90.25% of the stock is owned by institutional investors and hedge funds.

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.