Wolverine World Wide (NYSE:WWW) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Wolverine World Wide (NYSE:WWW) from a hold rating to a buy rating in a research report report published on Saturday morning.

A number of other research analysts have also recently weighed in on WWW. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Wolverine World Wide in a report on Monday, December 29th. Robert W. Baird reduced their price target on Wolverine World Wide from $35.00 to $23.00 and set an “outperform” rating for the company in a report on Thursday, November 6th. Telsey Advisory Group reissued a “market perform” rating and issued a $18.00 price objective (down from $29.00) on shares of Wolverine World Wide in a report on Wednesday, November 5th. Zacks Research downgraded Wolverine World Wide from a “hold” rating to a “strong sell” rating in a research note on Friday, January 2nd. Finally, Stifel Nicolaus set a $25.00 target price on Wolverine World Wide in a research report on Thursday, November 6th. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Wolverine World Wide presently has an average rating of “Hold” and an average target price of $21.38.

Wolverine World Wide Stock Down 0.6%

Shares of WWW stock opened at $17.62 on Friday. The company has a current ratio of 1.34, a quick ratio of 0.79 and a debt-to-equity ratio of 1.40. Wolverine World Wide has a twelve month low of $9.58 and a twelve month high of $32.80. The stock has a 50 day moving average of $18.22 and a 200 day moving average of $22.47. The stock has a market cap of $1.44 billion, a P/E ratio of 16.94 and a beta of 1.91.

Wolverine World Wide Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 1st. Investors of record on Wednesday, April 1st will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Wednesday, April 1st. Wolverine World Wide’s payout ratio is presently 38.46%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WWW. Vanguard Group Inc. grew its holdings in shares of Wolverine World Wide by 4.1% during the fourth quarter. Vanguard Group Inc. now owns 8,988,758 shares of the textile maker’s stock worth $163,146,000 after buying an additional 353,808 shares in the last quarter. Callodine Capital Management LP raised its holdings in Wolverine World Wide by 41.0% in the 2nd quarter. Callodine Capital Management LP now owns 4,297,586 shares of the textile maker’s stock valued at $77,700,000 after acquiring an additional 1,250,515 shares during the last quarter. State Street Corp lifted its stake in Wolverine World Wide by 2.1% in the 4th quarter. State Street Corp now owns 3,100,339 shares of the textile maker’s stock worth $56,271,000 after purchasing an additional 63,041 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Wolverine World Wide by 3.0% in the 4th quarter. JPMorgan Chase & Co. now owns 2,006,578 shares of the textile maker’s stock worth $36,419,000 after purchasing an additional 59,304 shares in the last quarter. Finally, Oxbow Capital Management HK Ltd acquired a new position in shares of Wolverine World Wide during the 3rd quarter worth approximately $54,431,000. Hedge funds and other institutional investors own 90.25% of the company’s stock.

Wolverine World Wide Company Profile

Wolverine World Wide, Inc (NYSE: WWW) is a global footwear and apparel company headquartered in Rockford, Michigan. The company designs, manufactures and markets a diversified portfolio of casual, active and performance lifestyle brands. Wolverine World Wide’s offerings span multiple price points and consumer segments, with products that include outdoor and trail footwear, running shoes, casual sneakers, boat shoes, work boots and related apparel and accessories.

Key brands in Wolverine World Wide’s portfolio include Merrell, an outdoor performance footwear brand; Saucony, known for running shoes and athletic gear; Sperry, which popularized boat shoes; Hush Puppies, a casual and comfort‐oriented line; and Keds, a heritage sneaker label.