Analysts Set Wolverine World Wide, Inc. (NYSE:WWW) Target Price at $21.50

Shares of Wolverine World Wide, Inc. (NYSE:WWW) have received a consensus recommendation of “Moderate Buy” from the ten brokerages that are currently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $21.50.

WWW has been the subject of a number of analyst reports. Stifel Nicolaus upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating and lifted their price objective for the company from $21.00 to $29.00 in a report on Wednesday, December 11th. Robert W. Baird reduced their price objective on shares of Wolverine World Wide from $21.00 to $18.00 and set a “neutral” rating for the company in a report on Thursday, February 20th. UBS Group cut their price target on shares of Wolverine World Wide from $29.00 to $26.00 and set a “buy” rating on the stock in a report on Thursday, February 20th. StockNews.com cut shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th. Finally, Telsey Advisory Group restated a “market perform” rating and set a $23.00 price target on shares of Wolverine World Wide in a report on Wednesday, February 19th.

Wolverine World Wide Trading Down 0.3 %

NYSE:WWW opened at $13.76 on Monday. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of 25.01 and a beta of 1.93. The firm has a fifty day simple moving average of $18.31 and a two-hundred day simple moving average of $18.93. Wolverine World Wide has a 12 month low of $9.07 and a 12 month high of $24.64. The company has a current ratio of 1.29, a quick ratio of 0.77 and a debt-to-equity ratio of 1.79.

Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings data on Wednesday, February 19th. The textile maker reported $0.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.42. The firm had revenue of $494.70 million during the quarter, compared to analysts’ expectations of $485.74 million. Wolverine World Wide had a net margin of 2.73% and a return on equity of 26.81%. The business’s revenue was down 6.1% on a year-over-year basis. During the same period last year, the company earned ($0.30) earnings per share. Analysts expect that Wolverine World Wide will post 1.23 EPS for the current fiscal year.

Wolverine World Wide Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 1st will be paid a $0.10 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $0.40 annualized dividend and a dividend yield of 2.91%. Wolverine World Wide’s payout ratio is presently 72.73%.

Institutional Investors Weigh In On Wolverine World Wide

Several large investors have recently added to or reduced their stakes in the company. Savant Capital LLC bought a new stake in shares of Wolverine World Wide in the fourth quarter valued at approximately $205,000. Pacer Advisors Inc. bought a new stake in Wolverine World Wide during the 4th quarter valued at $64,943,000. Landscape Capital Management L.L.C. purchased a new stake in shares of Wolverine World Wide during the third quarter worth $3,034,000. JPMorgan Chase & Co. boosted its holdings in shares of Wolverine World Wide by 1,263.0% in the third quarter. JPMorgan Chase & Co. now owns 1,426,942 shares of the textile maker’s stock worth $24,857,000 after acquiring an additional 1,322,254 shares during the period. Finally, XTX Topco Ltd grew its position in shares of Wolverine World Wide by 338.6% in the third quarter. XTX Topco Ltd now owns 47,346 shares of the textile maker’s stock valued at $825,000 after purchasing an additional 36,551 shares in the last quarter. Hedge funds and other institutional investors own 90.25% of the company’s stock.

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.