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

Key Points

• Wolverine World Wide, Inc. has an average consensus rating of "Buy" from nine research firms, with a 12-month price objective of $27.50.
• In its latest quarterly earnings report, the company reported $0.35 earnings per share, surpassing expectations of $0.23, with revenues of $474.20 million.
• The company recently announced a quarterly dividend of $0.10 per share, set to be paid on November 3rd, with a current dividend yield of 1.3%.

Shares of Wolverine World Wide, Inc. (NYSE:WWW - Get Free Report) have earned a consensus rating of "Buy" from the nine analysts that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $27.50.

Several analysts have recently commented on WWW shares. UBS Group increased their price target on shares of Wolverine World Wide from $30.00 to $36.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Telsey Advisory Group restated a "market perform" rating and set a $29.00 target price (up previously from $17.00) on shares of Wolverine World Wide in a research report on Wednesday, August 6th. Piper Sandler reaffirmed an "overweight" rating and set a $25.00 price target (up previously from $20.00) on shares of Wolverine World Wide in a research note on Tuesday, August 5th. Argus raised shares of Wolverine World Wide from a "hold" rating to a "buy" rating and set a $20.00 target price on the stock in a research note on Friday, May 16th. Finally, Stifel Nicolaus raised their price target on shares of Wolverine World Wide from $30.00 to $36.00 and gave the company a "buy" rating in a report on Wednesday, August 27th.

Wolverine World Wide Price Performance

Shares of WWW stock traded up $0.02 during trading hours on Monday, hitting $30.54. The company's stock had a trading volume of 1,626,492 shares, compared to its average volume of 1,521,695. The business has a fifty day moving average of $26.18 and a 200-day moving average of $18.87. The stock has a market cap of $2.48 billion, a price-to-earnings ratio of 29.94 and a beta of 1.80. Wolverine World Wide has a twelve month low of $9.58 and a twelve month high of $32.80. The company has a current ratio of 1.24, a quick ratio of 0.75 and a debt-to-equity ratio of 1.58.

Wolverine World Wide (NYSE:WWW - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The textile maker reported $0.35 EPS for the quarter, beating the consensus estimate of $0.23 by $0.12. The business had revenue of $474.20 million for the quarter, compared to analyst estimates of $447.82 million. Wolverine World Wide had a net margin of 4.73% and a return on equity of 31.99%. The company's quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.15 earnings per share. As a group, equities research analysts anticipate that Wolverine World Wide will post 1.23 EPS for the current year.

Wolverine World Wide Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Wednesday, October 1st will be issued a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $0.40 annualized dividend and a dividend yield of 1.3%. Wolverine World Wide's payout ratio is 39.22%.

Insider Activity

In other news, Director Nicholas T. Long sold 12,854 shares of Wolverine World Wide stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $31.84, for a total value of $409,271.36. Following the transaction, the director owned 76,268 shares of the company's stock, valued at $2,428,373.12. The trade was a 14.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Brenda J. Lauderback sold 12,854 shares of Wolverine World Wide stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $32.14, for a total transaction of $413,127.56. Following the completion of the transaction, the director directly owned 48,675 shares in the company, valued at approximately $1,564,414.50. This trade represents a 20.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.28% of the company's stock.

Institutional Trading of Wolverine World Wide

Institutional investors have recently added to or reduced their stakes in the business. Northern Trust Corp lifted its stake in shares of Wolverine World Wide by 12.4% in the fourth quarter. Northern Trust Corp now owns 1,005,835 shares of the textile maker's stock worth $22,330,000 after buying an additional 111,151 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Wolverine World Wide by 19.7% in the 4th quarter. Ameriprise Financial Inc. now owns 356,685 shares of the textile maker's stock valued at $7,918,000 after buying an additional 58,664 shares during the period. Captrust Financial Advisors grew its holdings in shares of Wolverine World Wide by 6.6% in the 4th quarter. Captrust Financial Advisors now owns 26,834 shares of the textile maker's stock worth $596,000 after purchasing an additional 1,667 shares during the last quarter. Deutsche Bank AG grew its holdings in shares of Wolverine World Wide by 45.9% in the 4th quarter. Deutsche Bank AG now owns 72,859 shares of the textile maker's stock worth $1,617,000 after purchasing an additional 22,907 shares during the last quarter. Finally, Gotham Asset Management LLC bought a new stake in shares of Wolverine World Wide in the 4th quarter worth about $2,258,000. 90.25% of the stock is currently 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.