Wolverine World Wide (NYSE:WWW) Upgraded at Argus

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

WWW has been the topic of a number of other research reports. Seaport Res Ptn raised shares of Wolverine World Wide from a neutral rating to a buy rating in a research report on Monday, May 6th. KeyCorp raised Wolverine World Wide from a sector weight rating to an overweight rating and set a $20.00 target price on the stock in a research report on Thursday, August 8th. Telsey Advisory Group reissued a market perform rating and issued a $14.00 price target on shares of Wolverine World Wide in a research report on Wednesday, August 7th. Robert W. Baird upped their price objective on shares of Wolverine World Wide from $13.00 to $15.00 and gave the stock a neutral rating in a report on Thursday, August 8th. Finally, UBS Group upgraded shares of Wolverine World Wide from a neutral rating to a buy rating and lifted their price objective for the company from $13.00 to $20.00 in a report on Friday, July 19th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Wolverine World Wide currently has an average rating of Hold and a consensus target price of $16.00.

Wolverine World Wide Stock Performance

Shares of WWW opened at $12.99 on Friday. Wolverine World Wide has a 12 month low of $7.21 and a 12 month high of $15.23. The company has a current ratio of 1.19, a quick ratio of 0.74 and a debt-to-equity ratio of 2.14. The firm’s fifty day simple moving average is $13.33 and its two-hundred day simple moving average is $11.71. The stock has a market capitalization of $1.04 billion, a P/E ratio of -13.97 and a beta of 1.76.

Wolverine World Wide (NYSE:WWW) last posted its quarterly 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. Wolverine World Wide had a negative return on equity of 0.34% and a negative net margin of 4.42%. The firm had revenue of $425.40 million for the quarter, compared to analysts’ expectations of $411.20 million. During the same period in the prior year, the business earned $0.19 EPS. The company’s revenue for the quarter was down 27.8% compared to the same quarter last year. As a group, analysts predict that Wolverine World Wide will post 0.85 EPS for the current 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 is Tuesday, October 1st. Wolverine World Wide’s dividend payout ratio is -43.01%.

Insider Transactions at Wolverine World Wide

In related news, insider Isabel Soriano sold 3,201 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $13.89, for a total value of $44,461.89. Following the transaction, the insider now owns 26,519 shares in the company, valued at $368,348.91. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.28% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Louisiana State Employees Retirement System increased its holdings in Wolverine World Wide by 2.0% in the 2nd quarter. Louisiana State Employees Retirement System now owns 40,200 shares of the textile maker’s stock worth $544,000 after acquiring an additional 800 shares during the last quarter. Texas Permanent School Fund Corp increased its stake in shares of Wolverine World Wide by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 69,168 shares of the textile maker’s stock worth $775,000 after purchasing an additional 946 shares in the last quarter. Hsbc Holdings PLC raised its position in shares of Wolverine World Wide by 9.3% in the second quarter. Hsbc Holdings PLC now owns 11,425 shares of the textile maker’s stock valued at $153,000 after purchasing an additional 973 shares during the period. ProShare Advisors LLC lifted its stake in shares of Wolverine World Wide by 7.5% during the 1st quarter. ProShare Advisors LLC now owns 15,708 shares of the textile maker’s stock valued at $176,000 after buying an additional 1,090 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Wolverine World Wide by 42.5% in the 1st quarter. GAMMA Investing LLC now owns 4,504 shares of the textile maker’s stock worth $50,000 after buying an additional 1,343 shares during the period. 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.