Wolverine World Wide (NYSE:WWW) Stock Price Down 15.3% – Here’s What Happened

Wolverine World Wide, Inc. (NYSE:WWW)’s share price dropped 15.3% during trading on Thursday . The company traded as low as $12.53 and last traded at $12.36. Approximately 128,221 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 1,238,452 shares. The stock had previously closed at $14.60.

Analysts Set New Price Targets

A number of equities analysts have commented on WWW shares. UBS Group decreased their target price on Wolverine World Wide from $29.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. Telsey Advisory Group restated a “market perform” rating and issued a $23.00 target price on shares of Wolverine World Wide in a research report on Wednesday, February 19th. Robert W. Baird reduced their target price on shares of Wolverine World Wide from $21.00 to $18.00 and set a “neutral” rating for the company in a report on Thursday, February 20th. StockNews.com cut shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th. Finally, Stifel Nicolaus upgraded Wolverine World Wide from a “hold” rating to a “buy” rating and raised their price objective for the stock from $21.00 to $29.00 in a research report on Wednesday, December 11th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Wolverine World Wide presently has an average rating of “Moderate Buy” and an average target price of $21.50.

Wolverine World Wide Stock Down 20.5 %

The company has a market capitalization of $940.82 million, a P/E ratio of 21.11 and a beta of 1.93. The firm has a 50-day moving average price of $16.93 and a two-hundred day moving average price of $18.99. The company has a quick ratio of 0.77, a current ratio of 1.29 and a debt-to-equity ratio of 1.79.

Wolverine World Wide (NYSE:WWW) last announced its quarterly earnings data on Wednesday, February 19th. The textile maker reported $0.42 earnings per share for the quarter, hitting the consensus estimate of $0.42. The company had revenue of $494.70 million for the quarter, compared to analyst estimates of $485.74 million. Wolverine World Wide had a return on equity of 26.81% and a net margin of 2.73%. Wolverine World Wide’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.30) EPS. Equities research analysts anticipate that Wolverine World Wide, Inc. will post 1.23 EPS for the current fiscal year.

Wolverine World Wide Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 1st will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.40 dividend on an annualized basis and a yield of 3.45%. Wolverine World Wide’s payout ratio is 72.73%.

Institutional Investors Weigh In On Wolverine World Wide

A number of institutional investors and hedge funds have recently modified their holdings of WWW. SBI Securities Co. Ltd. acquired a new stake in shares of Wolverine World Wide in the fourth quarter valued at approximately $25,000. Signaturefd LLC lifted its holdings 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 buying an additional 682 shares in the last quarter. Natixis bought a new stake in shares of Wolverine World Wide in the fourth quarter valued at about $41,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Wolverine World Wide in the fourth quarter valued at about $64,000. Finally, KBC Group NV raised its stake in Wolverine World Wide by 43.8% in the 4th quarter. KBC Group NV now owns 4,303 shares of the textile maker’s stock worth $96,000 after purchasing an additional 1,311 shares in the last quarter. 90.25% of the stock is owned by 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.