Wolverine World Wide’s (WWW) “Market Perform” Rating Reaffirmed at Telsey Advisory Group

Telsey Advisory Group reissued their market perform rating on shares of Wolverine World Wide (NYSE:WWW) in a research report released on Wednesday morning,Benzinga reports. The firm currently has a $23.00 price objective on the textile maker’s stock.

WWW has been the subject of a number of other reports. StockNews.com downgraded Wolverine World Wide from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th. Stifel Nicolaus raised Wolverine World Wide from a “hold” rating to a “buy” rating and raised their price objective for the company from $21.00 to $29.00 in a research note on Wednesday, December 11th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $21.50.

Wolverine World Wide Stock Down 0.4 %

Shares of NYSE WWW opened at $15.16 on Wednesday. The stock has a market cap of $1.21 billion, a PE ratio of 27.55 and a beta of 1.88. The company has a quick ratio of 0.77, a current ratio of 1.29 and a debt-to-equity ratio of 1.79. Wolverine World Wide has a 52-week low of $9.06 and a 52-week high of $24.64. The business has a 50-day moving average price of $21.88 and a 200 day moving average price of $18.78.

Wolverine World Wide (NYSE:WWW) last posted its quarterly earnings data on Wednesday, February 19th. The textile maker reported $0.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.42. Wolverine World Wide had a return on equity of 26.81% and a net margin of 2.73%. The company had revenue of $494.70 million during the quarter, compared to analysts’ expectations of $485.74 million. During the same period last year, the firm earned ($0.30) EPS. The firm’s revenue for the quarter was down 6.1% on a year-over-year basis. Equities research analysts forecast that Wolverine World Wide will post 1.13 earnings per share for the current year.

Wolverine World Wide Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 1st will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.64%. The ex-dividend date is Tuesday, April 1st. Wolverine World Wide’s dividend payout ratio (DPR) is 72.73%.

Insider Activity at Wolverine World Wide

In related news, insider Isabel Soriano sold 7,687 shares of Wolverine World Wide stock in a transaction on Monday, November 25th. The stock was sold at an average price of $23.57, for a total value of $181,182.59. Following the transaction, the insider now owns 34,206 shares in the company, valued at approximately $806,235.42. This trade represents a 18.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.28% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Pacer Advisors Inc. acquired a new stake in Wolverine World Wide in the fourth quarter valued at approximately $64,943,000. US Bancorp DE grew its position in shares of Wolverine World Wide by 487.8% during the third quarter. US Bancorp DE now owns 36,776 shares of the textile maker’s stock worth $641,000 after buying an additional 30,519 shares in the last quarter. Landscape Capital Management L.L.C. bought a new position in Wolverine World Wide during the third quarter worth $3,034,000. JPMorgan Chase & Co. lifted its stake in Wolverine World Wide by 1,263.0% during the third quarter. JPMorgan Chase & Co. now owns 1,426,942 shares of the textile maker’s stock worth $24,857,000 after purchasing an additional 1,322,254 shares during the last quarter. Finally, XTX Topco Ltd lifted its stake in Wolverine World Wide by 338.6% during the third quarter. XTX Topco Ltd now owns 47,346 shares of the textile maker’s stock worth $825,000 after purchasing an additional 36,551 shares during the last quarter. Institutional investors and hedge funds 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.