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

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

A number of equities analysts have issued reports on WWW shares. Robert W. Baird boosted their price objective on shares of Wolverine World Wide from $13.00 to $15.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. UBS Group raised Wolverine World Wide from a “neutral” rating to a “buy” rating and upped their price target for the company from $13.00 to $20.00 in a research report on Friday, July 19th. Piper Sandler reiterated an “overweight” rating and issued a $18.00 price objective on shares of Wolverine World Wide in a research report on Friday, August 23rd. KeyCorp upgraded Wolverine World Wide from a “sector weight” rating to an “overweight” rating and set a $20.00 target price for the company in a report on Thursday, August 8th. Finally, Williams Trading upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating and lifted their price target for the company from $11.00 to $16.00 in a report on Thursday, May 9th.

Wolverine World Wide Trading Up 0.8 %

NYSE WWW opened at $13.81 on Thursday. The stock has a 50-day moving average of $13.33 and a 200-day moving average of $12.06. The company has a current ratio of 1.19, a quick ratio of 0.74 and a debt-to-equity ratio of 2.14. Wolverine World Wide has a 1-year low of $7.21 and a 1-year high of $15.23. The firm has a market cap of $1.10 billion, a PE ratio of -14.85 and a beta of 1.76.

Wolverine World Wide (NYSE:WWW) last announced its quarterly earnings data on Wednesday, August 7th. The textile maker reported $0.15 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $411.20 million. During the same quarter in the previous year, the company posted $0.19 earnings per share. The business’s revenue was down 27.8% on a year-over-year basis. As a group, sell-side analysts forecast that Wolverine World Wide will post 0.85 EPS for the current year.

Wolverine World Wide Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Tuesday, October 1st will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend is Tuesday, October 1st. Wolverine World Wide’s dividend payout ratio is currently -43.01%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. GAMMA Investing LLC purchased a new position in shares of Wolverine World Wide during the fourth quarter valued at approximately $26,000. Canada Pension Plan Investment Board purchased a new stake in shares of Wolverine World Wide in the second quarter worth $68,000. Central Pacific Bank Trust Division bought a new position in Wolverine World Wide in the 1st quarter worth about $81,000. Natixis purchased a new stake in Wolverine World Wide during the 1st quarter valued at about $112,000. Finally, Oxford Asset Management LLP purchased a new position in Wolverine World Wide in the fourth quarter worth about $124,000. 90.25% of the stock is owned by hedge funds and other institutional investors.

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.