Wolverine World Wide, Inc. (NYSE:WWW) Given Average Rating of "Buy" by Analysts

Wolverine World Wide, Inc. (NYSE:WWW - Get Free Report) has earned a consensus rating of "Buy" from the nine ratings firms that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $19.75.

A number of analysts have recently issued reports on the stock. Argus raised shares of Wolverine World Wide from a "hold" rating to a "buy" rating and set a $20.00 price target on the stock in a report on Friday, May 16th. Stifel Nicolaus decreased their target price on shares of Wolverine World Wide from $27.00 to $19.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. UBS Group raised their target price on shares of Wolverine World Wide from $18.00 to $22.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Piper Sandler reduced their price objective on shares of Wolverine World Wide from $27.00 to $18.00 and set an "overweight" rating on the stock in a research report on Friday, April 11th. Finally, Telsey Advisory Group reiterated a "market perform" rating and set a $17.00 price objective on shares of Wolverine World Wide in a research report on Friday, May 9th.

Wolverine World Wide Stock Up 0.2%

Shares of Wolverine World Wide stock opened at $20.41 on Friday. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.26 and a quick ratio of 0.77. The company has a 50-day moving average of $18.00 and a 200 day moving average of $16.98. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of 23.46 and a beta of 1.70. Wolverine World Wide has a 1 year low of $9.58 and a 1 year high of $24.64.

Wolverine World Wide (NYSE:WWW - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The textile maker reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.07. Wolverine World Wide had a net margin of 4.15% and a return on equity of 28.74%. The company had revenue of $412.30 million during the quarter, compared to analyst estimates of $395.94 million. During the same period last year, the business earned $0.11 EPS. Wolverine World Wide's quarterly revenue was up 4.4% compared to the same quarter last year. As a group, sell-side analysts anticipate 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 Friday, August 1st. Shareholders of record on Tuesday, July 1st will be issued a $0.10 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $0.40 dividend on an annualized basis and a yield of 1.96%. Wolverine World Wide's dividend payout ratio is presently 45.98%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Proficio Capital Partners LLC acquired a new stake in shares of Wolverine World Wide during the 4th quarter worth about $315,000. Raymond James Financial Inc. acquired a new stake in Wolverine World Wide in the fourth quarter valued at $2,914,000. HighTower Advisors LLC lifted its position in shares of Wolverine World Wide by 5.2% in the fourth quarter. HighTower Advisors LLC now owns 11,526 shares of the textile maker's stock valued at $256,000 after acquiring an additional 574 shares in the last quarter. Commonwealth Equity Services LLC purchased a new position in Wolverine World Wide during the fourth quarter worth about $221,000. Finally, Natixis Advisors LLC grew its stake in shares of Wolverine World Wide by 3.8% in the fourth quarter. Natixis Advisors LLC now owns 28,608 shares of the textile maker's stock valued at $635,000 after buying an additional 1,035 shares in the last quarter. Hedge funds and other institutional investors 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.

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