Wolverine World Wide, Inc. (WWW) Receives Average Recommendation of “Hold” from Brokerages

Wolverine World Wide, Inc. (NYSE:WWW) has received an average recommendation of “Hold” from the fifteen ratings firms that are covering the company, Marketbeat.com reports. Ten equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $27.06.

WWW has been the subject of a number of recent research reports. Robert W. Baird reiterated a “buy” rating and issued a $32.00 target price on shares of Wolverine World Wide in a report on Sunday, September 17th. Morgan Stanley raised their price target on Wolverine World Wide from $22.50 to $24.50 and gave the stock an “equal weight” rating in a research note on Monday, September 25th. Pivotal Research started coverage on Wolverine World Wide in a research note on Thursday, October 5th. They set a “hold” rating and a $32.00 price target for the company. KeyCorp reissued a “hold” rating on shares of Wolverine World Wide in a research note on Wednesday, October 11th. Finally, Piper Jaffray Companies reissued a “hold” rating and set a $25.00 price target on shares of Wolverine World Wide in a research note on Wednesday, November 1st.

Shares of Wolverine World Wide (NYSE WWW) traded up $0.27 during trading on Monday, hitting $31.67. The stock had a trading volume of 1,096,400 shares, compared to its average volume of 1,077,450. The stock has a market cap of $3,030.00, a PE ratio of 53.68, a price-to-earnings-growth ratio of 1.35 and a beta of 0.95. The company has a current ratio of 3.09, a quick ratio of 2.06 and a debt-to-equity ratio of 0.74. Wolverine World Wide has a 12-month low of $20.94 and a 12-month high of $32.51.

Wolverine World Wide (NYSE:WWW) last announced its earnings results on Wednesday, November 8th. The textile maker reported $0.43 EPS for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.06. The firm had revenue of $581.30 million during the quarter, compared to analysts’ expectations of $552.36 million. Wolverine World Wide had a return on equity of 15.25% and a net margin of 2.35%. The company’s quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.49 EPS. equities analysts expect that Wolverine World Wide will post 1.64 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Tuesday, January 2nd will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date is Friday, December 29th. Wolverine World Wide’s dividend payout ratio (DPR) is presently 40.68%.

In other Wolverine World Wide news, insider Michael Jeppesen sold 11,807 shares of Wolverine World Wide stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $27.97, for a total transaction of $330,241.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph R. Gromek sold 18,928 shares of Wolverine World Wide stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $29.14, for a total value of $551,561.92. The disclosure for this sale can be found here. Insiders own 5.65% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of WWW. Schwab Charles Investment Management Inc. raised its position in shares of Wolverine World Wide by 4.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 605,766 shares of the textile maker’s stock worth $16,968,000 after acquiring an additional 24,390 shares in the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of Wolverine World Wide by 17.3% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 92,997 shares of the textile maker’s stock worth $2,605,000 after acquiring an additional 13,725 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in shares of Wolverine World Wide in the 2nd quarter worth $390,000. Principal Financial Group Inc. raised its position in shares of Wolverine World Wide by 0.3% in the 2nd quarter. Principal Financial Group Inc. now owns 757,012 shares of the textile maker’s stock worth $21,204,000 after acquiring an additional 2,279 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Wolverine World Wide by 5.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,494,422 shares of the textile maker’s stock worth $41,859,000 after acquiring an additional 83,293 shares in the last quarter. 92.48% of the stock is owned by institutional investors and hedge funds.

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About Wolverine World Wide

Wolverine World Wide, Inc is a designer, manufacturer and marketer of a range of casual footwear and apparel, outdoor and athletic footwear and apparel, children’s footwear, industrial work boots and apparel, and uniform shoes and boots. It operates in four segments: Wolverine Outdoor & Lifestyle Group, which offers Merrell footwear and apparel, Cat footwear, Hush Puppies footwear and apparel, and Chaco footwear; Wolverine Boston Group, which offers Sperry footwear and apparel, Saucony footwear and apparel, and Keds footwear and apparel; Wolverine Heritage Group, which offers Wolverine footwear and apparel, Bates uniform footwear, Harley-Davidson footwear and HyTest safety footwear, and Wolverine Multi-Brand Group, which offers Stride Rite footwear and apparel, and its multi-brand consumer-direct businesses.

Analyst Recommendations for Wolverine World Wide (NYSE:WWW)

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