Wolverine World Wide, Inc. (NYSE:WWW) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Wolverine World Wide, Inc. (NYSE:WWW) have earned an average rating of “Moderate Buy” from the ten ratings firms that are presently covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $21.50.

A number of analysts have weighed in on the stock. Telsey Advisory Group restated a “market perform” rating and issued a $23.00 target price on shares of Wolverine World Wide in a research report on Wednesday, February 19th. Stifel Nicolaus raised shares of Wolverine World Wide from a “hold” rating to a “buy” rating and raised their price target for the company from $21.00 to $29.00 in a research note on Wednesday, December 11th. Robert W. Baird dropped their price target on shares of Wolverine World Wide from $21.00 to $18.00 and set a “neutral” rating for the company in a research note on Thursday, February 20th. StockNews.com downgraded shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th. Finally, UBS Group dropped their price target on shares of Wolverine World Wide from $29.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday, February 20th.

Wolverine World Wide Stock Performance

Shares of Wolverine World Wide stock opened at $13.76 on Monday. Wolverine World Wide has a fifty-two week low of $9.07 and a fifty-two week high of $24.64. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.29 and a quick ratio of 0.77. The firm has a market capitalization of $1.11 billion, a P/E ratio of 25.01 and a beta of 1.93. The company’s 50 day moving average price is $18.31 and its two-hundred day moving average price is $18.93.

Wolverine World Wide (NYSE:WWW) last issued its earnings results on Wednesday, February 19th. The textile maker reported $0.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.42. Wolverine World Wide had a net margin of 2.73% and a return on equity of 26.81%. The firm had revenue of $494.70 million for the quarter, compared to analyst estimates of $485.74 million. During the same quarter last year, the business posted ($0.30) earnings per share. The company’s quarterly revenue was down 6.1% on a year-over-year basis. On average, equities analysts forecast that Wolverine World Wide will post 1.23 earnings per share for the current fiscal year.

Wolverine World Wide Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 1st will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date is Tuesday, April 1st. Wolverine World Wide’s dividend payout ratio is presently 72.73%.

Hedge Funds Weigh In On Wolverine World Wide

A number of hedge funds have recently bought and sold shares of WWW. SBI Securities Co. Ltd. bought a new position in Wolverine World Wide during the fourth quarter worth $25,000. Signaturefd LLC grew its holdings in Wolverine World Wide by 88.8% in the fourth quarter. Signaturefd LLC now owns 1,450 shares of the textile maker’s stock worth $32,000 after purchasing an additional 682 shares during the period. Natixis acquired a new stake in Wolverine World Wide in the fourth quarter worth $41,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Wolverine World Wide in the fourth quarter worth $64,000. Finally, KBC Group NV grew its holdings in Wolverine World Wide by 43.8% in the fourth quarter. KBC Group NV now owns 4,303 shares of the textile maker’s stock worth $96,000 after purchasing an additional 1,311 shares during the period. 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.