Wolverine World Wide (NYSE:WWW) Receives Market Perform Rating from Telsey Advisory Group

Telsey Advisory Group restated their market perform rating on shares of Wolverine World Wide (NYSE:WWW) in a research report sent to investors on Thursday morning, Benzinga reports. The firm currently has a $15.00 target price on the textile maker’s stock.

Several other equities research analysts also recently commented on WWW. KeyCorp upgraded shares of Wolverine World Wide from a “sector weight” rating to an “overweight” rating and set a $20.00 target price on the stock in a research report on Thursday, August 8th. UBS Group raised Wolverine World Wide from a “neutral” rating to a “buy” rating and raised their target price for the stock from $13.00 to $20.00 in a research report on Friday, July 19th. BNP Paribas upgraded Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 price objective for the company in a research report on Thursday, October 3rd. Piper Sandler restated an “overweight” rating and set a $18.00 price target on shares of Wolverine World Wide in a report on Friday, August 23rd. Finally, Argus raised shares of Wolverine World Wide to a “hold” rating in a research note on Friday, August 16th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Wolverine World Wide presently has a consensus rating of “Moderate Buy” and an average target price of $18.00.

Wolverine World Wide Price Performance

Shares of WWW stock traded down $0.08 on Thursday, hitting $15.31. 66,344 shares of the company’s stock were exchanged, compared to its average volume of 1,085,660. The company has a debt-to-equity ratio of 2.14, a current ratio of 1.19 and a quick ratio of 0.74. Wolverine World Wide has a 12 month low of $7.53 and a 12 month high of $18.51. The company has a 50 day moving average of $15.49 and a 200 day moving average of $13.73.

Wolverine World Wide (NYSE:WWW) last released its quarterly earnings data on Wednesday, August 7th. The textile maker reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.05. The business had revenue of $425.40 million during the quarter, compared to analysts’ expectations of $411.20 million. Wolverine World Wide had a negative net margin of 4.42% and a negative return on equity of 0.34%. During the same period in the prior year, the company earned $0.19 EPS. The firm’s quarterly revenue was down 27.8% compared to the same quarter last year. Equities research analysts anticipate that Wolverine World Wide will post 0.85 EPS for the current fiscal year.

Wolverine World Wide Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 2nd will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.61%. Wolverine World Wide’s payout ratio is presently -37.74%.

Insider Activity at Wolverine World Wide

In other Wolverine World Wide news, insider David A. Latchana sold 7,706 shares of the business’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $17.02, for a total value of $131,156.12. Following the transaction, the insider now owns 13,889 shares of the company’s stock, valued at approximately $236,390.78. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.28% of the stock is currently owned by company insiders.

Institutional Trading of Wolverine World Wide

Several hedge funds have recently made changes to their positions in WWW. Future Financial Wealth Managment LLC bought a new stake in Wolverine World Wide during the 3rd quarter valued at $35,000. Canada Pension Plan Investment Board bought a new stake in shares of Wolverine World Wide during the second quarter valued at about $68,000. Cedar Mountain Advisors LLC purchased a new stake in shares of Wolverine World Wide in the third quarter worth about $70,000. GAMMA Investing LLC boosted its position in shares of Wolverine World Wide by 15.9% in the third quarter. GAMMA Investing LLC now owns 4,494 shares of the textile maker’s stock valued at $78,000 after acquiring an additional 616 shares during the period. Finally, Central Pacific Bank Trust Division purchased a new position in Wolverine World Wide during the first quarter valued at approximately $81,000. 90.25% of the stock is currently owned by institutional investors.

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.