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

Wolverine World Wide, Inc. (NYSE:WWW) has received a consensus rating of “Moderate Buy” from the eight research firms that are currently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $17.17.

Several research firms have recently weighed in on WWW. Argus raised Wolverine World Wide to a “hold” rating in a report on Friday, August 16th. Robert W. Baird lifted their price target on Wolverine World Wide from $13.00 to $15.00 and gave the stock 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 increased their price objective for the company from $13.00 to $20.00 in a report on Friday, July 19th. KeyCorp raised shares of Wolverine World Wide from a “sector weight” rating to an “overweight” rating and set a $20.00 target price on the stock in a report on Thursday, August 8th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $18.00 price target on shares of Wolverine World Wide in a research report on Friday, August 23rd.

Hedge Funds Weigh In On Wolverine World Wide

Hedge funds and other institutional investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its position in Wolverine World Wide by 6.2% during 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 during the last quarter. Capstone Investment Advisors LLC acquired a new position in shares of Wolverine World Wide during the first quarter worth about $1,089,000. Manning & Napier Advisors LLC purchased a new position in Wolverine World Wide during the second quarter worth about $7,098,000. Federated Hermes Inc. lifted its position in Wolverine World Wide by 10,607.4% in the second quarter. Federated Hermes Inc. now owns 540,402 shares of the textile maker’s stock valued at $7,306,000 after purchasing an additional 535,355 shares during the period. Finally, Intrinsic Edge Capital Management LLC purchased a new stake in Wolverine World Wide in the 4th quarter valued at approximately $2,563,000. 90.25% of the stock is currently owned by hedge funds and other institutional investors.

Wolverine World Wide Trading Up 1.9 %

WWW stock opened at $17.51 on Monday. 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 twelve month low of $7.21 and a twelve month high of $17.57. The company’s 50 day moving average is $14.02 and its two-hundred day moving average is $12.70.

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

Wolverine World Wide Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 1st will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.28%. The ex-dividend date is Tuesday, October 1st. Wolverine World Wide’s dividend payout ratio (DPR) is presently -43.01%.

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.