Wolverine World Wide (NYSE:WWW) Lifted to Hold at Argus

Argus upgraded shares of Wolverine World Wide (NYSE:WWW) to a hold rating in a research note published on Friday, Zacks.com reports.

Several other analysts also recently weighed in on the company. Telsey Advisory Group reaffirmed a market perform rating and set a $14.00 target price on shares of Wolverine World Wide in a research note on Wednesday, August 7th. Robert W. Baird raised their target price on shares of Wolverine World Wide from $13.00 to $15.00 and gave the company a neutral rating in a research note on Thursday, August 8th. KeyCorp raised shares of Wolverine World Wide from a sector weight rating to an overweight rating and set a $20.00 price target for the company in a research note on Thursday, August 8th. 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. Finally, UBS Group upgraded Wolverine World Wide from a neutral rating to a buy rating and upped their target price for the stock from $13.00 to $20.00 in a research report on Friday, July 19th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $16.00.

Wolverine World Wide Stock Performance

Wolverine World Wide stock opened at $12.99 on Friday. 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 company has a fifty day moving average price of $13.33 and a two-hundred day moving average price of $11.71. The company has a market cap of $1.04 billion, a PE ratio of -13.97 and a beta of 1.76.

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

Wolverine World Wide Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 1st will be given a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $0.40 annualized dividend and a dividend yield of 3.08%. Wolverine World Wide’s dividend payout ratio (DPR) is presently -43.01%.

Insiders Place Their Bets

In other news, insider Isabel Soriano sold 3,201 shares of Wolverine World Wide stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $13.89, for a total transaction of $44,461.89. Following the transaction, the insider now owns 26,519 shares in the company, valued at $368,348.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.28% of the company’s stock.

Institutional Investors Weigh In On Wolverine World Wide

Several institutional investors have recently made changes to their positions in WWW. Louisiana State Employees Retirement System boosted its holdings in shares of Wolverine World Wide by 2.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 40,200 shares of the textile maker’s stock worth $544,000 after buying an additional 800 shares during the period. Texas Permanent School Fund Corp grew its position in shares of Wolverine World Wide by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 69,168 shares of the textile maker’s stock valued at $775,000 after purchasing an additional 946 shares during the last quarter. Hsbc Holdings PLC lifted its position in shares of Wolverine World Wide by 9.3% during the 2nd quarter. Hsbc Holdings PLC now owns 11,425 shares of the textile maker’s stock worth $153,000 after purchasing an additional 973 shares during the last quarter. ProShare Advisors LLC boosted its stake in Wolverine World Wide by 7.5% during the 1st quarter. ProShare Advisors LLC now owns 15,708 shares of the textile maker’s stock valued at $176,000 after purchasing an additional 1,090 shares during the period. Finally, GAMMA Investing LLC grew its holdings in Wolverine World Wide by 42.5% in the 1st quarter. GAMMA Investing LLC now owns 4,504 shares of the textile maker’s stock valued at $50,000 after buying an additional 1,343 shares during the last quarter. 90.25% of the stock is currently owned by institutional investors and hedge funds.

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.