Shares of Wolverine World Wide, Inc. (NYSE:WWW - Get Free Report) have received an average rating of "Buy" from the nine brokerages that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $19.75.
A number of research firms have commented on WWW. Argus upgraded Wolverine World Wide from a "hold" rating to a "buy" rating and set a $20.00 target price on the stock in a research report on Friday, May 16th. Baird R W upgraded shares of Wolverine World Wide from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 21st. Wall Street Zen lowered shares of Wolverine World Wide from a "buy" rating to a "hold" rating in a research report on Tuesday, February 11th. Stifel Nicolaus cut their price objective on Wolverine World Wide from $27.00 to $19.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Finally, Piper Sandler reduced their price objective on shares of 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.
Get Our Latest Research Report on Wolverine World Wide
Hedge Funds Weigh In On Wolverine World Wide
Several hedge funds and other institutional investors have recently modified their holdings of WWW. Callodine Capital Management LP increased its position in Wolverine World Wide by 60.2% during the 1st quarter. Callodine Capital Management LP now owns 3,047,071 shares of the textile maker's stock worth $42,385,000 after purchasing an additional 1,145,455 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Wolverine World Wide by 70.0% during the fourth quarter. JPMorgan Chase & Co. now owns 2,425,858 shares of the textile maker's stock worth $53,854,000 after buying an additional 998,916 shares during the period. Capital Research Global Investors acquired a new stake in shares of Wolverine World Wide in the fourth quarter worth $13,943,000. Goldman Sachs Group Inc. raised 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 acquiring an additional 537,854 shares during the period. Finally, WCM Investment Management LLC acquired a new position in shares of Wolverine World Wide during the 1st quarter valued at $7,164,000. 90.25% of the stock is owned by institutional investors and hedge funds.
Wolverine World Wide Price Performance
Shares of NYSE WWW traded down $0.12 during trading on Friday, hitting $16.67. 906,431 shares of the company were exchanged, compared to its average volume of 1,355,839. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.29 and a quick ratio of 0.77. Wolverine World Wide has a 1 year low of $9.58 and a 1 year high of $24.64. The company has a market cap of $1.35 billion, a price-to-earnings ratio of 30.31 and a beta of 1.62. The firm's fifty day moving average price is $14.02 and its 200 day moving average price is $17.98.
Wolverine World Wide (NYSE:WWW - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The textile maker reported $0.18 EPS for the quarter, topping analysts' consensus estimates of $0.11 by $0.07. The firm had revenue of $412.30 million for the quarter, compared to the consensus estimate of $395.94 million. Wolverine World Wide had a net margin of 2.73% and a return on equity of 26.81%. The firm's revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.11 earnings per share. On average, sell-side analysts expect that Wolverine World Wide will post 1.23 earnings per share for the current fiscal 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 paid a dividend of $0.10 per share. The ex-dividend date is Tuesday, July 1st. This represents a $0.40 annualized dividend and a yield of 2.40%. Wolverine World Wide's dividend payout ratio is presently 45.98%.
About Wolverine World Wide
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Get Free ReportWolverine 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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