Brokerages Set Wolverine World Wide, Inc. (NYSE:WWW) PT at $17.17

Wolverine World Wide, Inc. (NYSE:WWW) has received an average rating of “Moderate Buy” from the eight ratings firms that are presently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $17.17.

A number of equities analysts recently weighed in on WWW shares. KeyCorp raised shares of Wolverine World Wide from a “sector weight” rating to an “overweight” rating and set a $20.00 price objective for the company in a research report on Thursday, August 8th. UBS Group upgraded Wolverine World Wide from a “neutral” rating to a “buy” rating and raised their price target for the stock from $13.00 to $20.00 in a research report on Friday, July 19th. Piper Sandler reiterated an “overweight” rating and issued a $18.00 price objective on shares of Wolverine World Wide in a report on Friday, August 23rd. Robert W. Baird increased their target price on Wolverine World Wide from $13.00 to $15.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Finally, Argus raised Wolverine World Wide to a “hold” rating in a research report on Friday, August 16th.

Hedge Funds Weigh In On Wolverine World Wide

A number of institutional investors and hedge funds have recently made changes to their positions in WWW. Victory Capital Management Inc. lifted its stake in Wolverine World Wide by 40.1% in the fourth quarter. Victory Capital Management Inc. now owns 21,623 shares of the textile maker’s stock worth $192,000 after acquiring an additional 6,189 shares during the last quarter. Charles Schwab Investment Management Inc. lifted 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 purchasing an additional 103,368 shares during the last quarter. Connable Office Inc. acquired a new position in shares of Wolverine World Wide during the fourth quarter worth $137,000. Pacific Ridge Capital Partners LLC purchased a new position in Wolverine World Wide in the fourth quarter valued at $465,000. Finally, Intrinsic Edge Capital Management LLC purchased a new position in Wolverine World Wide in the fourth quarter valued at $2,563,000. 90.25% of the stock is owned by institutional investors and hedge funds.

Wolverine World Wide Price Performance

Shares of Wolverine World Wide stock opened at $17.51 on Monday. Wolverine World Wide has a fifty-two week low of $7.21 and a fifty-two week high of $17.57. 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 stock has a 50 day moving average of $14.02 and a 200 day moving average of $12.70.

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

Wolverine World Wide Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date is Tuesday, October 1st. Wolverine World Wide’s dividend payout ratio is currently -43.01%.

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.