Wolverine World Wide (NYSE:WWW) Raised to Outperform at Robert W. Baird

Robert W. Baird upgraded shares of Wolverine World Wide (NYSE:WWW - Free Report) from a neutral rating to an outperform rating in a research report released on Monday, MarketBeat reports. They currently have $15.00 price target on the textile maker's stock.

Other equities analysts have also issued research reports about the company. UBS Group decreased their price target on Wolverine World Wide from $29.00 to $26.00 and set a "buy" rating on the stock in a research note on Thursday, February 20th. Telsey Advisory Group reaffirmed a "market perform" rating and set a $23.00 target price on shares of Wolverine World Wide in a research note on Wednesday, February 19th. Stifel Nicolaus reduced 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 note on Thursday, April 10th. StockNews.com cut shares of Wolverine World Wide from a "buy" rating to a "hold" rating in a research report on Tuesday, February 11th. Finally, Piper Sandler cut their target price on 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. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $18.88.

Wolverine World Wide Price Performance

Shares of NYSE:WWW traded down $0.15 during trading on Monday, reaching $12.73. The stock had a trading volume of 1,160,973 shares, compared to its average volume of 1,311,364. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.77 and a current ratio of 1.29. Wolverine World Wide has a 1-year low of $9.58 and a 1-year high of $24.64. The stock has a market cap of $1.03 billion, a PE ratio of 23.15 and a beta of 1.74. The business has a fifty day moving average price of $13.18 and a 200-day moving average price of $18.30.

Wolverine World Wide (NYSE:WWW - Get Free Report) last announced its earnings results on Wednesday, February 19th. The textile maker reported $0.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.42. The company had revenue of $494.70 million for the quarter, compared to analysts' expectations of $485.74 million. Wolverine World Wide had a net margin of 2.73% and a return on equity of 26.81%. The firm's quarterly revenue was down 6.1% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.30) EPS. On average, equities analysts forecast that Wolverine World Wide will post 1.23 earnings per share for the current fiscal year.

Wolverine World Wide Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 1st will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 3.14%. The ex-dividend date of this dividend is Tuesday, April 1st. Wolverine World Wide's payout ratio is currently 72.73%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. SBI Securities Co. Ltd. acquired a new position in shares of Wolverine World Wide during the fourth quarter worth about $25,000. Signaturefd LLC increased its position in shares of Wolverine World Wide by 88.8% in 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 last quarter. Natixis acquired a new stake in shares of Wolverine World Wide in the 4th quarter valued at $41,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Wolverine World Wide during the 4th quarter worth $64,000. Finally, KBC Group NV raised its stake in Wolverine World Wide by 43.8% in the fourth quarter. KBC Group NV now owns 4,303 shares of the textile maker's stock valued at $96,000 after buying an additional 1,311 shares in the last quarter. 90.25% of the stock is owned by institutional investors and hedge funds.

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.