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

Key Points

• The average rating for Wolverine World Wide, Inc. (NYSE:WWW) among eight brokerages is a strong "Buy," with price targets ranging from $25.00 to $36.00.
• Wolverine World Wide reported earnings of $0.35 per share for the last quarter, exceeding expectations, and also recorded a year-over-year revenue increase of 11.5%.
• Directors of the company recently sold significant shares, representing decreases in their ownership, with only 2.28% of the stock currently held by insiders.

Shares of Wolverine World Wide, Inc. (NYSE:WWW - Get Free Report) have been given an average rating of "Buy" by the eight brokerages that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $28.2857.

WWW has been the subject of a number of recent research reports. Stifel Nicolaus raised their target price on Wolverine World Wide from $30.00 to $36.00 and gave the stock a "buy" rating in a research report on Wednesday, August 27th. UBS Group raised their target price on Wolverine World Wide from $30.00 to $36.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Telsey Advisory Group reiterated a "market perform" rating and issued a $29.00 price target (up from $17.00) on shares of Wolverine World Wide in a research report on Wednesday, August 6th. Piper Sandler reiterated an "overweight" rating and issued a $25.00 price target (up from $20.00) on shares of Wolverine World Wide in a research report on Tuesday, August 5th. Finally, KeyCorp reiterated an "overweight" rating and issued a $32.00 price target (up from $25.00) on shares of Wolverine World Wide in a research report on Thursday, August 7th.

Insider Buying and Selling at Wolverine World Wide

In other news, Director Nicholas T. Long sold 12,854 shares of Wolverine World Wide stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $31.84, for a total value of $409,271.36. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brenda J. Lauderback sold 12,854 shares of Wolverine World Wide stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $32.14, for a total value of $413,127.56. Following the completion of the transaction, the director owned 48,675 shares of the company's stock, 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. 2.28% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Wolverine World Wide

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Praxis Investment Management Inc. purchased a new position in Wolverine World Wide during the third quarter worth about $271,000. Corient Private Wealth LLC purchased a new position in Wolverine World Wide during the second quarter worth about $272,000. Squarepoint Ops LLC grew its position in Wolverine World Wide by 67.6% during the second quarter. Squarepoint Ops LLC now owns 332,870 shares of the textile maker's stock worth $6,018,000 after buying an additional 134,219 shares in the last quarter. Thrivent Financial for Lutherans grew its position in Wolverine World Wide by 1.3% during the second 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. Finally, Nomura Holdings Inc. purchased a new position in Wolverine World Wide during the second quarter worth about $1,090,000. 90.25% of the stock is currently owned by hedge funds and other institutional investors.

Wolverine World Wide Stock Performance

NYSE:WWW opened at $26.46 on Friday. 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 business has a fifty day simple moving average of $28.50 and a two-hundred day simple moving average of $20.28. Wolverine World Wide has a 1 year low of $9.58 and a 1 year high of $32.80. The company has a market capitalization of $2.15 billion, a P/E ratio of 25.94 and a beta of 1.81.

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

Wolverine World Wide Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Wednesday, October 1st will be given a $0.10 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $0.40 annualized dividend and a dividend yield of 1.5%. Wolverine World Wide's payout ratio is 39.22%.

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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