Wolverine World Wide (NYSE:WWW) Stock Price Down 4.2% - Should You Sell?

Key Points

• Wolverine World Wide's stock price fell 4.2% during mid-day trading, reaching a low of $26.80, with a noticeably reduced trading volume of approximately 198,811 shares.
• Analysts remain optimistic, with many raising their price targets; UBS Group increased their target from $30.00 to $36.00, and the company has a current consensus rating of "Buy" with an average price target of $27.50.
• The company recently declared a quarterly dividend of $0.10 per share, which equates to an annualized dividend yield of 1.5%, effective from November 3rd for investors of record as of October 1st.

Wolverine World Wide, Inc. (NYSE:WWW - Get Free Report)'s stock price was down 4.2% during mid-day trading on Monday . The stock traded as low as $26.80 and last traded at $26.70. Approximately 198,811 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 1,553,123 shares. The stock had previously closed at $27.88.

Analyst Ratings Changes

Several research analysts have issued reports on WWW shares. UBS Group increased their price target on Wolverine World Wide from $30.00 to $36.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Piper Sandler reiterated an "overweight" rating and issued a $25.00 price target (up previously from $20.00) on shares of Wolverine World Wide in a report on Tuesday, August 5th. Wall Street Zen upgraded Wolverine World Wide from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. KeyCorp reiterated an "overweight" rating and issued a $32.00 price target (up previously from $25.00) on shares of Wolverine World Wide in a report on Thursday, August 7th. Finally, Stifel Nicolaus raised their target price on Wolverine World Wide from $30.00 to $36.00 and gave the company a "buy" rating in a report on Wednesday, August 27th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $27.50.

Wolverine World Wide Stock Down 2.7%

The company has a quick ratio of 0.75, a current ratio of 1.24 and a debt-to-equity ratio of 1.58. The company has a market capitalization of $2.20 billion, a PE ratio of 26.63 and a beta of 1.80. The stock has a 50-day moving average of $28.12 and a 200 day moving average of $20.00.

Wolverine World Wide (NYSE:WWW - Get Free Report) last issued its quarterly 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 company had revenue of $474.20 million during the quarter, compared to the consensus estimate of $447.82 million. Wolverine World Wide had a return on equity of 31.99% and a net margin of 4.73%.Wolverine World Wide's revenue was up 11.5% on a year-over-year basis. During the same period last year, the business posted $0.15 earnings per share. Sell-side analysts anticipate 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 Monday, November 3rd. Investors of record on Wednesday, October 1st will be given a dividend of $0.10 per share. 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 dividend payout ratio (DPR) is presently 39.22%.

Insider Buying and Selling

In related news, Director Brenda J. Lauderback sold 12,854 shares of the stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $32.14, for a total transaction of $413,127.56. Following the completion of the sale, the director directly owned 48,675 shares of the company's stock, valued at approximately $1,564,414.50. This trade represents a 20.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Nicholas T. Long sold 12,854 shares of the firm's stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $31.84, for a total value of $409,271.36. Following the completion of the sale, the director directly owned 76,268 shares of the company's stock, valued at $2,428,373.12. This represents a 14.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.28% of the company's stock.

Institutional Trading of Wolverine World Wide

A number of large investors have recently bought and sold shares of the company. Corient Private Wealth LLC purchased a new stake in Wolverine World Wide in the second quarter worth $272,000. Squarepoint Ops LLC increased its position in Wolverine World Wide by 67.6% in the second quarter. Squarepoint Ops LLC now owns 332,870 shares of the textile maker's stock worth $6,018,000 after buying an additional 134,219 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of Wolverine World Wide by 1.3% in the second quarter. Thrivent Financial for Lutherans now owns 59,742 shares of the textile maker's stock worth $1,074,000 after acquiring an additional 782 shares during the period. Nomura Holdings Inc. bought a new position in shares of Wolverine World Wide in the second quarter worth $1,090,000. Finally, Public Sector Pension Investment Board boosted its holdings in shares of Wolverine World Wide by 7.1% in the second quarter. Public Sector Pension Investment Board now owns 308,361 shares of the textile maker's stock worth $5,575,000 after acquiring an additional 20,563 shares during the period. 90.25% of the stock is owned by hedge funds and other institutional investors.

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.

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