Wolverine World Wide, Inc. (NYSE:WWW) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Wolverine World Wide, Inc. (NYSE:WWW) have received an average recommendation of “Moderate Buy” from the eight research firms that are covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $17.17.

A number of equities analysts have commented on WWW shares. Williams Trading upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $11.00 to $16.00 in a report on Thursday, May 9th. Piper Sandler reissued an “overweight” rating and issued a $18.00 price objective on shares of Wolverine World Wide in a report on Friday, August 23rd. Argus raised Wolverine World Wide to a “hold” rating in a report on Friday, August 16th. Seaport Res Ptn upgraded Wolverine World Wide from a “neutral” rating to a “buy” rating in a report on Monday, May 6th. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $14.00 price target on shares of Wolverine World Wide in a research report on Wednesday, August 7th.

Wolverine World Wide Trading Down 0.6 %

Shares of WWW opened at $13.71 on Thursday. 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 $7.21 and a 12 month high of $15.23. The stock has a market cap of $1.10 billion, a PE ratio of -14.74 and a beta of 1.76. The stock’s 50-day moving average is $13.34 and its two-hundred day moving average is $12.00.

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

Wolverine World Wide Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 1st will be paid a dividend of $0.10 per share. The ex-dividend date is Tuesday, October 1st. This represents a $0.40 dividend on an annualized basis and a yield of 2.92%. Wolverine World Wide’s payout ratio is currently -43.01%.

Hedge Funds Weigh In On Wolverine World Wide

Hedge funds and other institutional investors have recently modified their holdings of the company. Earnest Partners LLC boosted its stake in Wolverine World Wide by 1.7% during the 2nd quarter. Earnest Partners LLC now owns 5,321,797 shares of the textile maker’s stock valued at $71,951,000 after purchasing an additional 90,407 shares during the period. Pacer Advisors Inc. bought a new stake in shares of Wolverine World Wide during the second quarter valued at approximately $64,295,000. Charles Schwab Investment Management Inc. grew its holdings in Wolverine World Wide by 6.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,771,991 shares of the textile maker’s stock worth $15,753,000 after buying an additional 103,368 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Wolverine World Wide by 6.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 994,443 shares of the textile maker’s stock worth $13,445,000 after buying an additional 60,481 shares in the last quarter. Finally, Sei Investments Co. increased its position in Wolverine World Wide by 1.8% in the 1st quarter. Sei Investments Co. now owns 688,530 shares of the textile maker’s stock valued at $7,718,000 after acquiring an additional 12,266 shares during the period. Institutional investors and hedge funds own 90.25% of the company’s stock.

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.