Brokerages Set Wolverine World Wide, Inc. (NYSE:WWW) Price Target at $11.67

Wolverine World Wide, Inc. (NYSE:WWW) has been assigned an average recommendation of “Hold” from the ten ratings firms that are presently covering the stock, Marketbeat reports. Eight equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $11.67.

Several research analysts recently issued reports on the stock. Seaport Res Ptn upgraded shares of Wolverine World Wide from a “neutral” rating to a “buy” rating in a research note on Monday, May 6th. Telsey Advisory Group restated a “market perform” rating and set a $10.00 price objective on shares of Wolverine World Wide in a research note on Wednesday, May 8th. UBS Group raised their price objective on shares of Wolverine World Wide from $11.00 to $13.00 and gave the company a “neutral” rating in a research note on Thursday, May 9th. Robert W. Baird raised their price objective on shares of Wolverine World Wide from $9.00 to $13.00 and gave the company a “neutral” rating in a research note on Thursday, May 9th. Finally, Williams Trading upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating and raised their price objective for the company from $11.00 to $16.00 in a research note on Thursday, May 9th.

Wolverine World Wide Price Performance

Shares of Wolverine World Wide stock opened at $13.07 on Wednesday. The company has a current ratio of 1.13, a quick ratio of 0.65 and a debt-to-equity ratio of 2.24. The company has a 50-day moving average of $13.27 and a 200 day moving average of $10.86. Wolverine World Wide has a 1 year low of $7.21 and a 1 year high of $14.45.

Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings results on Wednesday, May 8th. The textile maker reported $0.05 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.05. The company had revenue of $394.90 million during the quarter, compared to analyst estimates of $360.31 million. Wolverine World Wide had a negative net margin of 3.59% and a positive return on equity of 0.53%. As a group, analysts anticipate that Wolverine World Wide will post 0.8 EPS for the current fiscal year.

Wolverine World Wide Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Monday, July 1st will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date is Monday, July 1st. Wolverine World Wide’s payout ratio is presently -43.01%.

Insider Activity

In other news, insider Isabel Soriano sold 3,201 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $13.89, for a total transaction of $44,461.89. Following the sale, the insider now owns 26,519 shares of the company’s stock, valued at approximately $368,348.91. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.28% of the company’s stock.

Hedge Funds Weigh In On Wolverine World Wide

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of Wolverine World Wide by 1.2% in the third quarter. Vanguard Group Inc. now owns 9,282,319 shares of the textile maker’s stock worth $74,815,000 after buying an additional 109,833 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Wolverine World Wide by 6.2% in the fourth 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 during the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Wolverine World Wide by 13.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,446,579 shares of the textile maker’s stock worth $11,659,000 after buying an additional 175,039 shares during the last quarter. Sei Investments Co. boosted its holdings in shares of Wolverine World Wide by 1.8% in the first quarter. Sei Investments Co. now owns 688,530 shares of the textile maker’s stock worth $7,718,000 after buying an additional 12,266 shares during the last quarter. Finally, Manning & Napier Advisors LLC purchased a new position in shares of Wolverine World Wide in the second quarter worth approximately $7,098,000. Hedge funds and other institutional investors 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.