Wolverine World Wide (NYSE:WWW) PT Raised to $13.00

Wolverine World Wide (NYSE:WWW - Free Report) had its price target boosted by UBS Group from $11.00 to $13.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a neutral rating on the textile maker's stock.

Several other equities analysts have also commented on WWW. Telsey Advisory Group reaffirmed a market perform rating and set a $10.00 target price on shares of Wolverine World Wide in a report on Wednesday. Robert W. Baird increased their target price on Wolverine World Wide from $9.00 to $13.00 and gave the stock a neutral rating in a research report on Thursday. Williams Trading upgraded Wolverine World Wide from a hold rating to a buy rating and raised their target price for the company from $11.00 to $16.00 in a research note on Thursday. Finally, Seaport Res Ptn upgraded shares of Wolverine World Wide from a neutral rating to a buy rating in a research report on Monday. Nine investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $11.67.

Wolverine World Wide Stock Up 5.0 %

NYSE WWW traded up $0.63 during mid-day trading on Thursday, reaching $13.38. 2,130,786 shares of the company's stock traded hands, compared to its average volume of 904,121. The company has a current ratio of 1.18, a quick ratio of 0.75 and a debt-to-equity ratio of 2.02. Wolverine World Wide has a 1-year low of $7.21 and a 1-year high of $17.85. The company has a fifty day simple moving average of $10.32 and a 200-day simple moving average of $9.30. The company has a market cap of $1.07 billion, a price-to-earnings ratio of -26.23 and a beta of 1.73.

Wolverine World Wide (NYSE:WWW - Get Free Report) last announced its quarterly earnings data on Wednesday, February 21st. The textile maker reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.03). Wolverine World Wide had a positive return on equity of 1.45% and a negative net margin of 1.77%. The company had revenue of $526.70 million for the quarter, compared to analyst estimates of $520.12 million. During the same period in the prior year, the business earned ($0.15) earnings per share. Wolverine World Wide's revenue was down 20.8% on a year-over-year basis. As a group, equities research analysts expect that Wolverine World Wide will post 0.77 EPS for the current year.

Wolverine World Wide Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Monday, July 1st will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date is Monday, July 1st. Wolverine World Wide's dividend payout ratio (DPR) is currently -78.43%.

Institutional Investors Weigh In On Wolverine World Wide

Institutional investors have recently added to or reduced their stakes in the company. Callodine Capital Management LP acquired a new position in shares of Wolverine World Wide in the 3rd quarter valued at $8,060,000. Wolverine Asset Management LLC raised its position in Wolverine World Wide by 493.5% in the third quarter. Wolverine Asset Management LLC now owns 193,757 shares of the textile maker's stock worth $1,562,000 after purchasing an additional 161,109 shares in the last quarter. Invesco Ltd. lifted its stake in Wolverine World Wide by 21.7% during the third quarter. Invesco Ltd. now owns 799,375 shares of the textile maker's stock worth $6,443,000 after purchasing an additional 142,646 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Wolverine World Wide by 18.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,668,623 shares of the textile maker's stock valued at $13,449,000 after purchasing an additional 255,872 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Wolverine World Wide in the 4th quarter valued at approximately $172,000. 90.25% of the stock is owned by institutional investors and hedge funds.

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.