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

Key Points

• Wolverine World Wide, Inc. has received an average analyst recommendation of "Buy", with one analyst rating it as "strong buy" and seven others as "buy" out of nine ratings firms covering the stock.
• The company reported earnings of $0.35 per share for the latest quarter, exceeding expectations and marking an 11.5% increase in revenue compared to the same quarter last year.
• Wolverine World Wide has declared a quarterly dividend of $0.10, reflecting an annual yield of 1.4%, set to be paid on November 3rd.

Wolverine World Wide, Inc. (NYSE:WWW - Get Free Report) has received an average recommendation of "Buy" from the nine ratings firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $25.3750.

Several analysts have recently issued reports on the stock. Piper Sandler reissued an "overweight" rating and issued a $25.00 price target (up previously from $20.00) on shares of Wolverine World Wide in a research report on Tuesday, August 5th. Baird R W raised shares of Wolverine World Wide from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 21st. 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 research report on Thursday, August 7th. Wall Street Zen raised shares of Wolverine World Wide from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Finally, 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.

Hedge Funds Weigh In On Wolverine World Wide

A number of hedge funds and other institutional investors have recently bought and sold shares of WWW. Callodine Capital Management LP boosted its stake in shares of Wolverine World Wide by 60.2% in the 1st quarter. Callodine Capital Management LP now owns 3,047,071 shares of the textile maker's stock valued at $42,385,000 after purchasing an additional 1,145,455 shares in the last quarter. Capital Research Global Investors purchased a new stake in shares of Wolverine World Wide in the 4th quarter valued at $13,943,000. Goldman Sachs Group Inc. boosted its stake in shares of Wolverine World Wide by 55.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,504,571 shares of the textile maker's stock valued at $20,929,000 after purchasing an additional 537,854 shares in the last quarter. WCM Investment Management LLC purchased a new stake in shares of Wolverine World Wide in the 1st quarter valued at $7,164,000. Finally, Nuveen Asset Management LLC boosted its stake in shares of Wolverine World Wide by 179.1% in the 4th quarter. Nuveen Asset Management LLC now owns 628,338 shares of the textile maker's stock valued at $13,949,000 after purchasing an additional 403,176 shares in the last quarter. Hedge funds and other institutional investors own 90.25% of the company's stock.

Wolverine World Wide Stock Performance

Shares of WWW stock opened at $28.59 on Thursday. The firm has a market cap of $2.32 billion, a price-to-earnings ratio of 28.03 and a beta of 1.74. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.75 and a current ratio of 1.24. Wolverine World Wide has a 52 week low of $9.58 and a 52 week high of $28.81. The firm's 50-day simple moving average is $20.71 and its two-hundred day simple moving average is $17.23.

Wolverine World Wide (NYSE:WWW - Get Free Report) last posted 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. Wolverine World Wide had a net margin of 4.73% and a return on equity of 31.99%. The company had revenue of $474.20 million for the quarter, compared to analyst estimates of $447.82 million. During the same quarter in the previous year, the firm posted $0.15 earnings per share. The company's quarterly revenue was up 11.5% compared to the same quarter last year. As a group, equities analysts forecast that Wolverine World Wide will post 1.23 earnings per share for the current year.

Wolverine World Wide Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Wednesday, October 1st will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Wednesday, October 1st. Wolverine World Wide's payout ratio is currently 39.22%.

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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