Wolverine World Wide, Inc. (NYSE:WWW) Receives $28.71 Average Price Target from Brokerages

Shares of Wolverine World Wide, Inc. (NYSE:WWW) have earned an average recommendation of “Moderate Buy” from the ten ratings firms that are presently covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $28.7143.

A number of equities analysts recently issued reports on WWW shares. Telsey Advisory Group restated a “market perform” rating and set a $29.00 price objective on shares of Wolverine World Wide in a report on Wednesday. KeyCorp restated an “overweight” rating and set a $32.00 price objective (up previously from $25.00) on shares of Wolverine World Wide in a report on Thursday, August 7th. UBS Group boosted their price objective on Wolverine World Wide from $36.00 to $39.00 and gave the company a “buy” rating in a report on Monday, October 27th. Wall Street Zen upgraded Wolverine World Wide from a “buy” rating to a “strong-buy” rating in a report on Friday, October 3rd. Finally, Piper Sandler restated an “overweight” rating and set a $25.00 price objective (up previously from $20.00) on shares of Wolverine World Wide in a report on Tuesday, August 5th.

Wolverine World Wide Stock Performance

NYSE WWW opened at $22.71 on Tuesday. The company has a market cap of $1.84 billion, a P/E ratio of 22.26 and a beta of 1.81. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.75 and a current ratio of 1.24. The business’s 50 day moving average price is $28.17 and its 200-day moving average price is $22.27. Wolverine World Wide has a fifty-two week low of $9.58 and a fifty-two week high of $32.80.

Wolverine World Wide (NYSE:WWW) last released its earnings results on Wednesday, August 6th. The textile maker reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.12. The firm had revenue of $474.20 million for the quarter, compared to the consensus estimate of $447.82 million. Wolverine World Wide had a return on equity of 31.99% and a net margin of 4.73%.The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.15 EPS. Sell-side analysts predict that Wolverine World Wide will post 1.23 earnings per share for the current year.

Wolverine World Wide Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Friday, January 2nd will be issued a dividend of $0.10 per share. The ex-dividend date is Friday, January 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 1.8%. Wolverine World Wide’s payout ratio is presently 39.22%.

Insiders Place Their Bets

In other Wolverine World Wide news, Director Nicholas T. Long sold 12,854 shares of Wolverine World Wide stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $31.84, for a total transaction of $409,271.36. Following the completion of the sale, the director directly owned 76,268 shares of the company’s stock, valued at $2,428,373.12. The trade was a 14.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Brenda J. Lauderback sold 12,854 shares of Wolverine World Wide stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $32.14, for a total value of $413,127.56. Following the sale, the director directly owned 48,675 shares of the company’s stock, valued at approximately $1,564,414.50. This trade represents a 20.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 2.28% of the company’s stock.

Institutional Investors Weigh In On Wolverine World Wide

A number of institutional investors and hedge funds have recently bought and sold shares of WWW. Cambridge Investment Research Advisors Inc. bought a new stake in Wolverine World Wide during the 1st quarter valued at $608,000. Illinois Municipal Retirement Fund raised its position in Wolverine World Wide by 8.4% during the 1st quarter. Illinois Municipal Retirement Fund now owns 44,317 shares of the textile maker’s stock valued at $616,000 after purchasing an additional 3,441 shares in the last quarter. WCM Investment Management LLC bought a new stake in Wolverine World Wide during the 1st quarter valued at $7,164,000. Teacher Retirement System of Texas bought a new stake in Wolverine World Wide during the 1st quarter valued at $163,000. Finally, Principal Financial Group Inc. raised its position in Wolverine World Wide by 2.3% during the 1st quarter. Principal Financial Group Inc. now owns 399,738 shares of the textile maker’s stock valued at $5,560,000 after purchasing an additional 9,029 shares in the last quarter. 90.25% of the stock is owned by institutional investors.

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.