Wolverine World Wide (NYSE:WWW) Stock Rating Upgraded by Argus

Argus upgraded shares of Wolverine World Wide (NYSE:WWW) to a hold rating in a research report report published on Friday, Zacks.com reports.

A number of other research analysts have also recently issued reports on the company. Seaport Res Ptn raised Wolverine World Wide from a neutral rating to a buy rating in a report on Monday, May 6th. Williams Trading raised 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. KeyCorp upgraded shares of Wolverine World Wide from a sector weight rating to an overweight rating and set a $20.00 price target on the stock in a research report on Thursday, August 8th. UBS Group raised shares of Wolverine World Wide from a neutral rating to a buy rating and raised their price objective for the stock from $13.00 to $20.00 in a report on Friday, July 19th. Finally, Robert W. Baird lifted their target price on shares of Wolverine World Wide from $13.00 to $15.00 and gave the company a neutral rating in a research note on Thursday, August 8th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Wolverine World Wide currently has a consensus rating of Hold and a consensus target price of $16.00.

Wolverine World Wide Stock Down 0.9 %

Shares of WWW opened at $12.99 on Friday. The company has a quick ratio of 0.74, a current ratio of 1.19 and a debt-to-equity ratio of 2.14. The company has a 50-day moving average price of $13.33 and a two-hundred day moving average price of $11.71. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of -13.97 and a beta of 1.76. Wolverine World Wide has a 12 month low of $7.21 and a 12 month high of $15.23.

Wolverine World Wide (NYSE:WWW) last issued its earnings results on Wednesday, August 7th. The textile maker reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.05. The business had revenue of $425.40 million during the quarter, compared to analysts’ expectations of $411.20 million. Wolverine World Wide had a negative return on equity of 0.34% and a negative net margin of 4.42%. Wolverine World Wide’s quarterly revenue was down 27.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.19 EPS. Equities analysts predict that Wolverine World Wide will post 0.85 EPS for the current fiscal year.

Wolverine World Wide Announces Dividend

The business 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 $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend is Tuesday, October 1st. Wolverine World Wide’s payout ratio is presently -43.01%.

Insiders Place Their Bets

In other news, insider Isabel Soriano sold 3,201 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $13.89, for a total transaction of $44,461.89. Following the sale, the insider now directly owns 26,519 shares of the company’s stock, valued at $368,348.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.28% of the company’s stock.

Institutional Investors Weigh In On Wolverine World Wide

Institutional investors and hedge funds have recently made changes to their positions in the company. Earnest Partners LLC boosted its holdings in Wolverine World Wide by 1.7% in the second quarter. Earnest Partners LLC now owns 5,321,797 shares of the textile maker’s stock valued at $71,951,000 after acquiring an additional 90,407 shares during the last quarter. Pacer Advisors Inc. bought a new position in shares of Wolverine World Wide in the 2nd quarter valued at about $64,295,000. Charles Schwab Investment Management Inc. grew its position in shares of 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 period. Bank of New York Mellon Corp raised its stake in shares of Wolverine World Wide by 6.5% during the second quarter. Bank of New York Mellon Corp now owns 994,443 shares of the textile maker’s stock worth $13,445,000 after buying an additional 60,481 shares during the last quarter. Finally, Sei Investments Co. lifted its holdings in Wolverine World Wide by 1.8% in the first quarter. Sei Investments Co. now owns 688,530 shares of the textile maker’s stock valued at $7,718,000 after buying an additional 12,266 shares during the period. Institutional investors own 90.25% of the company’s stock.

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.