Argus Raises Wolverine World Wide (WWW) Price Target to $44.00
Wolverine World Wide (NYSE:WWW) had its target price boosted by Argus from $40.00 to $44.00 in a research report sent to investors on Friday morning. The brokerage currently has a buy rating on the textile maker’s stock.
Several other equities analysts also recently commented on the stock. Buckingham Research increased their target price on shares of Wolverine World Wide from $34.00 to $38.00 and gave the stock a neutral rating in a research report on Thursday. Zacks Investment Research raised shares of Wolverine World Wide from a hold rating to a buy rating and set a $41.00 target price on the stock in a research report on Friday, August 10th. Robert W. Baird reaffirmed a buy rating and issued a $43.00 price target on shares of Wolverine World Wide in a research report on Friday, August 10th. DA Davidson set a $44.00 price target on Wolverine World Wide and gave the company a buy rating in a research report on Thursday, August 9th. Finally, Telsey Advisory Group raised their price target on Wolverine World Wide from $35.00 to $39.00 and gave the company a market perform rating in a research report on Thursday, August 9th. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $38.04.
Wolverine World Wide stock opened at $38.24 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.86 and a current ratio of 2.65. The firm has a market cap of $3.57 billion, a price-to-earnings ratio of 23.32, a price-to-earnings-growth ratio of 1.76 and a beta of 0.98. Wolverine World Wide has a one year low of $25.25 and a one year high of $38.52.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 1st. Stockholders of record on Monday, October 1st will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.84%. The ex-dividend date is Friday, September 28th. Wolverine World Wide’s dividend payout ratio is currently 19.51%.
In related news, Director William K. Gerber sold 1,000 shares of the stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $37.17, for a total value of $37,170.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael Jeppesen sold 49,151 shares of the stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $37.77, for a total transaction of $1,856,433.27. Following the completion of the sale, the insider now owns 156,470 shares of the company’s stock, valued at approximately $5,909,871.90. The disclosure for this sale can be found here. Company insiders own 5.81% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pinnacle Financial Partners Inc. bought a new position in Wolverine World Wide during the first quarter worth about $128,000. Point72 Asia Hong Kong Ltd lifted its stake in Wolverine World Wide by 442.2% during the first quarter. Point72 Asia Hong Kong Ltd now owns 5,509 shares of the textile maker’s stock worth $159,000 after purchasing an additional 4,493 shares during the period. Raymond James & Associates bought a new position in Wolverine World Wide during the second quarter worth about $205,000. A.R.T. Advisors LLC bought a new position in Wolverine World Wide during the first quarter worth about $219,000. Finally, Cape Cod Five Cents Savings Bank bought a new position in Wolverine World Wide during the second quarter worth about $220,000. Institutional investors and hedge funds own 94.99% of the company’s stock.
Wolverine World Wide Company Profile
Wolverine World Wide, Inc designs, manufactures, sources, markets, licenses, and distributes footwear, apparel, and accessories. The company operates through four segments: Wolverine Outdoor & Lifestyle Group, Wolverine Boston Group, Wolverine Heritage Group, and Wolverine Multi-Brand Group. It offers casual footwear and apparel; performance outdoor and athletic footwear and apparel; children's footwear; industrial work boots and apparel; and uniform shoes and boots.
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