Brokerages Set Wolverine World Wide, Inc. (NYSE:WWW) Target Price at $10.63

Shares of Wolverine World Wide, Inc. (NYSE:WWW - Get Free Report) have earned a consensus rating of "Reduce" from the seven ratings firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating and six have given a hold rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $10.63.

Separately, Telsey Advisory Group reiterated a "market perform" rating and issued a $10.00 price objective on shares of Wolverine World Wide in a report on Wednesday, February 21st.

Institutional Trading of Wolverine World Wide

Institutional investors have recently bought and sold shares of the company. Callodine Capital Management LP purchased a new stake in shares of Wolverine World Wide during the third quarter valued at $8,060,000. Wolverine Asset Management LLC boosted its holdings in shares of Wolverine World Wide by 493.5% during the 3rd quarter. Wolverine Asset Management LLC now owns 193,757 shares of the textile maker's stock valued at $1,562,000 after acquiring an additional 161,109 shares during the last quarter. Invesco Ltd. grew its stake in shares of Wolverine World Wide by 21.7% in the third quarter. Invesco Ltd. now owns 799,375 shares of the textile maker's stock worth $6,443,000 after acquiring an additional 142,646 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of 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 during the last quarter. Finally, Swiss National Bank lifted its position in Wolverine World Wide by 1.0% during the third quarter. Swiss National Bank now owns 174,600 shares of the textile maker's stock valued at $1,407,000 after purchasing an additional 1,700 shares during the period. 90.25% of the stock is owned by hedge funds and other institutional investors.

Wolverine World Wide Trading Up 3.9 %

Wolverine World Wide stock traded up $0.41 during mid-day trading on Friday, reaching $10.90. 662,228 shares of the company traded hands, compared to its average volume of 845,832. The firm's 50 day moving average price is $10.02 and its 200 day moving average price is $9.08. Wolverine World Wide has a 52-week low of $7.21 and a 52-week high of $17.85. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.18 and a quick ratio of 0.75. The firm has a market capitalization of $871.02 million, a price-to-earnings ratio of -21.37 and a beta of 1.75.

Wolverine World Wide (NYSE:WWW - Get Free Report) last announced its quarterly earnings results on Wednesday, February 21st. The textile maker reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.03). Wolverine World Wide had a negative net margin of 1.77% and a positive return on equity of 1.45%. The company had revenue of $526.70 million for the quarter, compared to analysts' expectations of $520.12 million. During the same quarter in the prior year, the firm earned ($0.15) EPS. Wolverine World Wide's quarterly revenue was down 20.8% compared to the same quarter last year. On average, analysts anticipate that Wolverine World Wide will post 0.77 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 Wednesday, May 1st. Stockholders of record on Monday, April 1st will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 3.67%. The ex-dividend date of this dividend is Thursday, March 28th. Wolverine World Wide's dividend payout ratio is presently -78.43%.

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.