Telsey Advisory Group Reaffirms "Market Perform" Rating for Wolverine World Wide (NYSE:WWW)

Telsey Advisory Group restated their market perform rating on shares of Wolverine World Wide (NYSE:WWW - Free Report) in a research note published on Wednesday, Benzinga reports. The firm currently has a $10.00 price target on the textile maker's stock.

Wolverine World Wide Trading Down 2.7 %

Shares of WWW traded down $0.29 during mid-day trading on Wednesday, reaching $10.45. The stock had a trading volume of 697,853 shares, compared to its average volume of 849,203. 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 cap of $835.06 million, a price-to-earnings ratio of -20.49 and a beta of 1.75. The business's fifty day moving average is $10.10 and its 200 day moving average is $9.15. Wolverine World Wide has a 52-week low of $7.21 and a 52-week high of $17.85.

Wolverine World Wide (NYSE:WWW - Get Free Report) last issued its earnings results 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). The firm had revenue of $526.70 million during the quarter, compared to analyst estimates of $520.12 million. Wolverine World Wide had a negative net margin of 1.77% and a positive return on equity of 1.45%. The firm's revenue was down 20.8% compared to the same quarter last year. During the same period last year, the business earned ($0.15) EPS. On average, sell-side analysts predict that Wolverine World Wide will post 0.77 EPS for the current fiscal year.

Wolverine World Wide Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 1st will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $0.40 dividend on an annualized basis and a yield of 3.83%. Wolverine World Wide's payout ratio is currently -78.43%.

Institutional Trading of Wolverine World Wide

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Wolverine World Wide by 1.2% during the third quarter. Vanguard Group Inc. now owns 9,282,319 shares of the textile maker's stock worth $74,815,000 after purchasing an additional 109,833 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Wolverine World Wide by 6.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,771,991 shares of the textile maker's stock worth $15,753,000 after acquiring an additional 103,368 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its position in shares of Wolverine World Wide by 2.1% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,542,637 shares of the textile maker's stock worth $12,434,000 after acquiring an additional 32,100 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its position in Wolverine World Wide by 13.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,446,579 shares of the textile maker's stock valued at $11,659,000 after buying an additional 175,039 shares during the last quarter. Finally, Callodine Capital Management LP purchased a new position in Wolverine World Wide in the 3rd quarter valued at $8,060,000. Institutional investors and hedge funds 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.