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

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%.

Wolverine World Wide, Inc. (NYSE:WWW - Get Free Report) has been given an average recommendation of "Buy" by the nine research firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $27.50.

Several equities research analysts have issued reports on WWW shares. KeyCorp reissued an "overweight" rating and issued a $32.00 price target (up previously from $25.00) on shares of Wolverine World Wide in a report on Thursday, August 7th. Telsey Advisory Group reissued a "market perform" rating and issued a $29.00 price target (up previously from $17.00) on shares of Wolverine World Wide in a report on Wednesday, August 6th. Stifel Nicolaus boosted 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. UBS Group upped their target price on shares of Wolverine World Wide from $30.00 to $36.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $25.00 target price (up previously from $20.00) on shares of Wolverine World Wide in a report on Tuesday, August 5th.

Wolverine World Wide Trading Down 0.5%

Shares of Wolverine World Wide stock opened at $31.84 on Monday. The firm has a market capitalization of $2.59 billion, a PE ratio of 31.21 and a beta of 1.80. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.24 and a quick ratio of 0.75. The company's fifty day moving average price is $25.01 and its two-hundred day moving average price is $18.37. Wolverine World Wide has a 52-week low of $9.58 and a 52-week high of $32.80.

Wolverine World Wide (NYSE:WWW - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The textile maker reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.12. The firm 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 business's revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.15 EPS. On average, analysts expect that Wolverine World Wide will post 1.23 EPS for the current year.

Wolverine World Wide Dividend Announcement

The company also recently announced 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 dividend payout ratio is presently 39.22%.

Insider Activity

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

Institutional Investors Weigh In On Wolverine World Wide

Several large investors have recently made changes to their positions in the company. Squarepoint Ops LLC grew its holdings in shares of Wolverine World Wide by 67.6% in the 2nd quarter. Squarepoint Ops LLC now owns 332,870 shares of the textile maker's stock worth $6,018,000 after purchasing an additional 134,219 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in Wolverine World Wide by 1.3% during the 2nd quarter. Thrivent Financial for Lutherans now owns 59,742 shares of the textile maker's stock worth $1,074,000 after buying an additional 782 shares in the last quarter. Nomura Holdings Inc. acquired a new position in Wolverine World Wide during the 2nd quarter worth about $1,090,000. Public Sector Pension Investment Board lifted its position in Wolverine World Wide by 7.1% during the 2nd quarter. Public Sector Pension Investment Board now owns 308,361 shares of the textile maker's stock worth $5,575,000 after buying an additional 20,563 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in Wolverine World Wide by 109.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 10,775 shares of the textile maker's stock worth $195,000 after buying an additional 5,620 shares in the last quarter. Institutional investors 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.

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