Piper Sandler Reaffirms "Overweight" Rating for Wolverine World Wide (NYSE:WWW)

Key Points

• Piper Sandler has raised its price target for Wolverine World Wide from $20.00 to $25.00, indicating a potential upside of 9.19% based on the stock's previous close.
• The stock is currently rated as a "Moderate Buy" by analysts, with the average price target set at $21.63, reflecting a mixed sentiment among analysts.
• Wolverine World Wide reported earnings of $0.18 per share, exceeding estimates, with revenue of $412.30 million for the quarter, marking a 4.4% increase year-over-year.

Piper Sandler reaffirmed their overweight rating on shares of Wolverine World Wide (NYSE:WWW - Free Report) in a research report released on Tuesday, MarketBeat reports. Piper Sandler currently has a $25.00 price target on the textile maker's stock, up from their prior price target of $20.00.

WWW has been the topic of a number of other research reports. UBS Group lifted their price target on shares of Wolverine World Wide from $22.00 to $30.00 and gave the company a "buy" rating in a research note on Monday, July 28th. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $17.00 price objective on shares of Wolverine World Wide in a research report on Wednesday, July 30th. Baird R W upgraded Wolverine World Wide from a "hold" rating to a "strong-buy" rating in a report on Monday, April 21st. Robert W. Baird lifted their price target on Wolverine World Wide from $15.00 to $20.00 and gave the company an "outperform" rating in a research note on Tuesday, May 6th. Finally, Stifel Nicolaus dropped their target price on 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. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $21.63.

Wolverine World Wide Stock Performance

Wolverine World Wide stock opened at $26.92 on Tuesday. The firm has a market capitalization of $2.18 billion, a P/E ratio of 30.94 and a beta of 1.74. The stock has a fifty day moving average price of $19.45 and a two-hundred day moving average price of $16.99. Wolverine World Wide has a 52-week low of $9.58 and a 52-week high of $27.36. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.26 and a quick ratio of 0.77.

Wolverine World Wide (NYSE:WWW - Get Free Report) last announced 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 $0.22 by $0.13. Wolverine World Wide had a net margin of 4.15% and a return on equity of 28.74%. The company had revenue of $474.20 million for the quarter, compared to analyst estimates of $447.82 million. During the same period in the prior year, the business earned $0.15 earnings per share. Wolverine World Wide's quarterly revenue was up 11.5% on a year-over-year basis. As a group, analysts anticipate that Wolverine World Wide will post 1.23 EPS for the current fiscal year.

Wolverine World Wide Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors 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 1.5%. The ex-dividend date of this dividend is Wednesday, October 1st. Wolverine World Wide's dividend payout ratio (DPR) is 45.98%.

Institutional Investors Weigh In On Wolverine World Wide

Several hedge funds have recently modified their holdings of the company. Natixis bought a new stake in shares of Wolverine World Wide in the 4th quarter valued at $41,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Wolverine World Wide in the fourth quarter valued at $64,000. Hilltop National Bank bought a new position in Wolverine World Wide during the second quarter worth about $85,000. GAMMA Investing LLC boosted its holdings in shares of Wolverine World Wide by 48.7% in the second quarter. GAMMA Investing LLC now owns 8,000 shares of the textile maker's stock worth $145,000 after acquiring an additional 2,619 shares during the period. Finally, Summit Investment Advisors Inc. boosted its position in shares of Wolverine World Wide by 7.5% in the fourth quarter. Summit Investment Advisors Inc. now owns 8,305 shares of the textile maker's stock valued at $184,000 after acquiring an additional 581 shares during the period. Institutional investors and hedge funds 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.