Wolverine World Wide, Inc. (WWW) Receives $24.19 Average Price Target from Analysts
Wolverine World Wide, Inc. (NYSE:WWW) has been assigned an average recommendation of “Hold” from the twelve analysts that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $24.19.
WWW has been the subject of several recent research reports. ValuEngine cut shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a research report on Thursday, August 24th. Morgan Stanley increased their price target on Wolverine World Wide from $22.50 to $24.50 and gave the company an “equal weight” rating in a research note on Monday, September 25th. BidaskClub upgraded Wolverine World Wide from a “hold” rating to a “buy” rating in a research report on Saturday, July 1st. Robert W. Baird restated a “buy” rating and issued a $32.00 price target on shares of Wolverine World Wide in a research report on Sunday, September 17th. Finally, Zacks Investment Research upgraded Wolverine World Wide from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a research report on Saturday, August 12th.
Shares of Wolverine World Wide (WWW) traded down 1.32% during midday trading on Friday, hitting $29.05. The stock had a trading volume of 940,229 shares. The firm has a market capitalization of $2.81 billion, a PE ratio of 34.14 and a beta of 0.98. Wolverine World Wide has a one year low of $20.58 and a one year high of $29.62. The firm’s 50-day moving average price is $26.95 and its 200-day moving average price is $26.15.
Wolverine World Wide (NYSE:WWW) last posted its quarterly earnings results on Wednesday, August 9th. The textile maker reported $0.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.14. Wolverine World Wide had a net margin of 3.32% and a return on equity of 15.81%. The business had revenue of $598.80 million during the quarter, compared to the consensus estimate of $573.78 million. During the same period in the previous year, the firm posted $0.26 earnings per share. Wolverine World Wide’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, equities analysts predict that Wolverine World Wide will post $1.62 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Monday, October 2nd will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend is Friday, September 29th. Wolverine World Wide’s dividend payout ratio is currently 28.24%.
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A number of hedge funds have recently bought and sold shares of WWW. Bank of Montreal Can lifted its holdings in Wolverine World Wide by 15.1% during the first quarter. Bank of Montreal Can now owns 4,840 shares of the textile maker’s stock worth $121,000 after acquiring an additional 635 shares in the last quarter. Wells Fargo & Company MN grew its stake in Wolverine World Wide by 25.3% in the first quarter. Wells Fargo & Company MN now owns 114,690 shares of the textile maker’s stock valued at $2,864,000 after acquiring an additional 23,149 shares during the period. First Trust Advisors LP increased its holdings in shares of Wolverine World Wide by 83.5% in the first quarter. First Trust Advisors LP now owns 86,292 shares of the textile maker’s stock worth $2,155,000 after acquiring an additional 39,274 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Wolverine World Wide by 2.3% in the first quarter. Bank of New York Mellon Corp now owns 1,440,493 shares of the textile maker’s stock worth $35,970,000 after acquiring an additional 32,948 shares in the last quarter. Finally, UBS Asset Management Americas Inc. increased its holdings in shares of Wolverine World Wide by 52.0% in the first quarter. UBS Asset Management Americas Inc. now owns 63,520 shares of the textile maker’s stock worth $1,586,000 after acquiring an additional 21,722 shares in the last quarter. Hedge funds and other institutional investors own 90.84% of the company’s stock.
Wolverine World Wide Company Profile
Wolverine World Wide, Inc is a designer, manufacturer and marketer of a range of casual footwear and apparel, outdoor and athletic footwear and apparel, children’s footwear, industrial work boots and apparel, and uniform shoes and boots. It operates in four segments: Wolverine Outdoor & Lifestyle Group, which offers Merrell footwear and apparel, Cat footwear, Hush Puppies footwear and apparel, and Chaco footwear; Wolverine Boston Group, which offers Sperry footwear and apparel, Saucony footwear and apparel, and Keds footwear and apparel; Wolverine Heritage Group, which offers Wolverine footwear and apparel, Bates uniform footwear, Harley-Davidson footwear and HyTest safety footwear, and Wolverine Multi-Brand Group, which offers Stride Rite footwear and apparel, and its multi-brand consumer-direct businesses.
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