Wolverine World Wide, Inc. (WWW) Receives Average Recommendation of “Hold” from Analysts
Shares of Wolverine World Wide, Inc. (NYSE:WWW) have been given an average recommendation of “Hold” by the fifteen ratings firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $25.65.
WWW has been the subject of a number of analyst reports. Morgan Stanley upped their price target on Wolverine World Wide from $22.50 to $24.50 and gave the stock an “equal weight” rating in a report on Monday, September 25th. ValuEngine cut Wolverine World Wide from a “buy” rating to a “hold” rating in a report on Thursday, August 24th. Pivotal Research raised Wolverine World Wide from a “hold” rating to a “buy” rating and upped their price target for the stock from $32.00 to $33.00 in a report on Wednesday, November 8th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $25.00 price target on shares of Wolverine World Wide in a report on Wednesday, November 1st. Finally, KeyCorp reaffirmed a “hold” rating on shares of Wolverine World Wide in a report on Wednesday, October 11th.
Shares of Wolverine World Wide (WWW) traded up $0.27 on Friday, hitting $28.26. The stock had a trading volume of 745,282 shares, compared to its average volume of 924,658. Wolverine World Wide has a 1 year low of $20.94 and a 1 year high of $29.62. The company has a quick ratio of 2.06, a current ratio of 3.09 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $2,703.95, a P/E ratio of 18.12, a price-to-earnings-growth ratio of 1.38 and a beta of 0.94.
Wolverine World Wide (NYSE:WWW) last issued its earnings results on Wednesday, November 8th. The textile maker reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06. Wolverine World Wide had a return on equity of 15.25% and a net margin of 2.35%. The firm had revenue of $581.30 million for the quarter, compared to the consensus estimate of $552.36 million. During the same quarter in the prior year, the business earned $0.49 earnings per share. The company’s revenue was down 3.7% compared to the same quarter last year. equities research analysts expect that Wolverine World Wide will post 1.64 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Tuesday, January 2nd will be issued a dividend of $0.06 per share. The ex-dividend date is Friday, December 29th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.85%. Wolverine World Wide’s payout ratio is currently 40.00%.
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In other Wolverine World Wide news, insider Michael Jeppesen sold 11,807 shares of the stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $27.97, for a total transaction of $330,241.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.65% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in WWW. Bank of Montreal Can raised its holdings in shares of Wolverine World Wide by 1.3% during the second quarter. Bank of Montreal Can now owns 4,904 shares of the textile maker’s stock valued at $138,000 after acquiring an additional 64 shares during the last quarter. Everence Capital Management Inc. acquired a new position in shares of Wolverine World Wide during the second quarter valued at approximately $202,000. Papp L Roy & Associates acquired a new position in shares of Wolverine World Wide during the second quarter valued at approximately $204,000. Riverhead Capital Management LLC raised its holdings in shares of Wolverine World Wide by 62.2% during the second quarter. Riverhead Capital Management LLC now owns 7,625 shares of the textile maker’s stock valued at $214,000 after acquiring an additional 2,925 shares during the last quarter. Finally, Teacher Retirement System of Texas acquired a new position in shares of Wolverine World Wide during the second quarter valued at approximately $221,000. 91.51% of the stock is owned by institutional investors and hedge funds.
About Wolverine World Wide
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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