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

Wolverine World Wide, Inc. (NYSE:WWW - Get Free Report) has received an average recommendation of "Buy" from the nine brokerages that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $19.75.

A number of equities analysts have commented on WWW shares. Piper Sandler reduced their price target on shares of Wolverine World Wide from $27.00 to $18.00 and set an "overweight" rating on the stock in a research report on Friday, April 11th. Baird R W upgraded shares of Wolverine World Wide from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 21st. Robert W. Baird increased their price target on Wolverine World Wide from $15.00 to $20.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. UBS Group raised their price target on Wolverine World Wide from $18.00 to $22.00 and gave the company a "buy" rating in a report on Friday, May 9th. Finally, Telsey Advisory Group reiterated a "market perform" rating and issued a $17.00 price objective on shares of Wolverine World Wide in a research report on Friday, May 9th.

Wolverine World Wide Price Performance

NYSE WWW traded up $0.26 on Wednesday, reaching $18.54. The company's stock had a trading volume of 1,657,438 shares, compared to its average volume of 1,335,086. Wolverine World Wide has a 52 week low of $9.58 and a 52 week high of $24.64. The company has a current ratio of 1.26, a quick ratio of 0.77 and a debt-to-equity ratio of 1.76. The firm has a market cap of $1.50 billion, a PE ratio of 21.31 and a beta of 1.71. The business has a 50-day moving average price of $16.20 and a 200 day moving average price of $17.32.

Wolverine World Wide (NYSE:WWW - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The textile maker reported $0.18 earnings per share for the quarter, beating analysts' consensus estimates of $0.11 by $0.07. The firm had revenue of $412.30 million for the quarter, compared to analysts' expectations of $395.94 million. Wolverine World Wide had a return on equity of 28.74% and a net margin of 4.15%. The business's revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.11 earnings per share. Sell-side analysts expect that Wolverine World Wide will post 1.23 EPS for the current year.

Wolverine World Wide Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Tuesday, July 1st will be given a $0.10 dividend. The ex-dividend date is Tuesday, July 1st. This represents a $0.40 dividend on an annualized basis and a yield of 2.16%. Wolverine World Wide's payout ratio is 45.98%.

Institutional Investors Weigh In On Wolverine World Wide

A number of institutional investors and hedge funds have recently made changes to their positions in WWW. SBI Securities Co. Ltd. bought a new position in Wolverine World Wide in the fourth quarter valued at about $25,000. Signaturefd LLC lifted its position in 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 purchasing an additional 682 shares during the period. Natixis bought a new position in shares of Wolverine World Wide in the 4th quarter valued at about $41,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Wolverine World Wide in the 4th quarter valued at about $64,000. Finally, Smartleaf Asset Management LLC grew its position in shares of Wolverine World Wide by 375.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 5,552 shares of the textile maker's stock worth $122,000 after buying an additional 4,384 shares during the period. 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.