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

Wolverine World Wide, Inc. (NYSE:WWW - Get Free Report) has been given a consensus rating of "Buy" by the nine ratings firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $19.75.

Several analysts have issued reports on WWW shares. Piper Sandler lowered their target price on Wolverine World Wide from $27.00 to $18.00 and set an "overweight" rating on the stock in a research note on Friday, April 11th. Argus upgraded Wolverine World Wide from a "hold" rating to a "buy" rating and set a $20.00 price objective on the stock in a research note on Friday, May 16th. Wall Street Zen downgraded shares of Wolverine World Wide from a "buy" rating to a "hold" rating in a report on Tuesday, February 11th. Telsey Advisory Group reiterated a "market perform" rating and set a $17.00 target price on shares of Wolverine World Wide in a research report on Friday, May 9th. Finally, Stifel Nicolaus lowered their price target on shares of Wolverine World Wide from $27.00 to $19.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th.

Wolverine World Wide Stock Performance

NYSE WWW traded down $0.29 during trading hours on Friday, reaching $17.06. 1,236,444 shares of the company were exchanged, compared to its average volume of 1,355,541. The stock has a market capitalization of $1.38 billion, a P/E ratio of 31.02 and a beta of 1.62. The company has a quick ratio of 0.77, a current ratio of 1.29 and a debt-to-equity ratio of 1.79. Wolverine World Wide has a 1 year low of $9.58 and a 1 year high of $24.64. The business's 50 day simple moving average is $13.92 and its 200-day simple moving average is $18.06.

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. The company had revenue of $412.30 million during the quarter, compared to analyst estimates of $395.94 million. Wolverine World Wide had a net margin of 2.73% and a return on equity of 26.81%. Wolverine World Wide's quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.11 EPS. On average, equities research analysts expect that Wolverine World Wide will post 1.23 earnings per share for the current year.

Wolverine World Wide Announces Dividend

The company also recently declared 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. This represents a $0.40 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend is Tuesday, July 1st. Wolverine World Wide's payout ratio is 45.98%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in WWW. SBI Securities Co. Ltd. bought a new stake in Wolverine World Wide during the fourth quarter valued at $25,000. Signaturefd LLC boosted its position in shares of Wolverine World Wide by 88.8% during the 4th quarter. Signaturefd LLC now owns 1,450 shares of the textile maker's stock valued at $32,000 after acquiring an additional 682 shares during the last quarter. Natixis bought a new stake in shares of Wolverine World Wide during the 4th quarter valued at about $41,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Wolverine World Wide during the fourth quarter worth about $64,000. Finally, KBC Group NV increased its position in shares of Wolverine World Wide by 43.8% in the fourth quarter. KBC Group NV now owns 4,303 shares of the textile maker's stock worth $96,000 after purchasing an additional 1,311 shares during the last quarter. 90.25% of the stock is currently owned by hedge funds and other institutional investors.

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.