Wolverine World Wide, Inc. (NYSE:WWW) Given Average Recommendation of “Moderate Buy” by Brokerages

Wolverine World Wide, Inc. (NYSE:WWW) has received a consensus recommendation of “Moderate Buy” from the ten research firms that are covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $21.50.

A number of analysts have recently issued reports on WWW shares. StockNews.com cut Wolverine World Wide from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th. UBS Group dropped their price target on Wolverine World Wide from $29.00 to $26.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Stifel Nicolaus raised Wolverine World Wide from a “hold” rating to a “buy” rating and lifted their price target for the stock from $21.00 to $29.00 in a report on Wednesday, December 11th. Robert W. Baird dropped their price target on Wolverine World Wide from $21.00 to $18.00 and set a “neutral” rating for the company in a report on Thursday, February 20th. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $23.00 price target on shares of Wolverine World Wide in a report on Wednesday, February 19th.

Hedge Funds Weigh In On Wolverine World Wide

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WWW. CWM LLC raised its holdings in Wolverine World Wide by 237.0% in the 3rd quarter. CWM LLC now owns 8,843 shares of the textile maker’s stock valued at $154,000 after acquiring an additional 6,219 shares in the last quarter. US Bancorp DE raised its holdings in shares of Wolverine World Wide by 487.8% during the 3rd quarter. US Bancorp DE now owns 36,776 shares of the textile maker’s stock worth $641,000 after buying an additional 30,519 shares in the last quarter. GSA Capital Partners LLP raised its holdings in shares of Wolverine World Wide by 33.9% during the 3rd quarter. GSA Capital Partners LLP now owns 96,615 shares of the textile maker’s stock worth $1,683,000 after buying an additional 24,477 shares in the last quarter. Aigen Investment Management LP acquired a new position in shares of Wolverine World Wide during the 3rd quarter worth $195,000. Finally, Oppenheimer Asset Management Inc. raised its holdings in shares of Wolverine World Wide by 5.5% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 145,860 shares of the textile maker’s stock worth $2,541,000 after buying an additional 7,577 shares in the last quarter. 90.25% of the stock is owned by institutional investors and hedge funds.

Wolverine World Wide Stock Performance

WWW opened at $15.29 on Thursday. Wolverine World Wide has a 12-month low of $9.06 and a 12-month high of $24.64. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of 27.79 and a beta of 1.88. The business has a 50 day moving average of $21.71 and a 200-day moving average of $18.87. 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 released its quarterly earnings data on Wednesday, February 19th. The textile maker reported $0.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.42. Wolverine World Wide had a return on equity of 26.81% and a net margin of 2.73%. The company had revenue of $494.70 million during the quarter, compared to analysts’ expectations of $485.74 million. During the same period last year, the firm posted ($0.30) earnings per share. The business’s revenue was down 6.1% on a year-over-year basis. On average, equities research analysts expect that Wolverine World Wide will post 1.23 earnings per share for the current year.

Wolverine World Wide Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 1st will be issued a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.40 annualized dividend and a yield of 2.62%. Wolverine World Wide’s dividend payout ratio is presently 72.73%.

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.