Wolverine World Wide (WWW) Stock Rating Lowered by Zacks Investment Research
Zacks Investment Research downgraded shares of Wolverine World Wide (NYSE:WWW) from a buy rating to a hold rating in a report issued on Saturday morning.
According to Zacks, “Wolverine Worldwide, Inc. is one of the world’s leading marketers of branded casual, active lifestyle, work, outdoor sport, athletic, children’s and uniform footwear and apparel. The Company’s portfolio of highly recognized brands includes Merrell, Sperry, Hush Puppies, Saucony, Wolverine, Keds, Stride Rite, Sebago, Chaco, Bates, HYTEST, and Soft Style. The Company also is the global footwear licensee of popular brands including Cat, Harley-Davidson. The Company’s products are carried by leading retailers in the U.S. and globally in approximately 200 countries and territories. “
Several other research analysts also recently commented on the stock. Stifel Nicolaus set a $34.00 price target on shares of Wolverine World Wide and gave the stock a buy rating in a research note on Saturday, December 16th. TheStreet downgraded shares of Wolverine World Wide from a b rating to a c+ rating in a research note on Wednesday, November 8th. Buckingham Research lifted their target price on shares of Wolverine World Wide from $24.00 to $28.00 and gave the stock a neutral rating in a research note on Thursday, November 9th. Telsey Advisory Group lifted their target price on shares of Wolverine World Wide from $29.00 to $30.00 and gave the stock a market perform rating in a research note on Thursday, November 9th. Finally, Piper Jaffray Companies reaffirmed a hold rating and issued a $26.00 target price on shares of Wolverine World Wide in a research note on Wednesday, November 8th. Ten research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Wolverine World Wide has a consensus rating of Hold and an average price target of $27.25.
Wolverine World Wide (NYSE:WWW) opened at $32.08 on Friday. The company has a market cap of $3,080.00, a P/E ratio of 54.37, a price-to-earnings-growth ratio of 1.35 and a beta of 0.95. Wolverine World Wide has a one year low of $20.94 and a one year high of $32.70. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.06 and a current ratio of 3.09.
Wolverine World Wide (NYSE:WWW) last posted its quarterly earnings results on Wednesday, November 8th. The textile maker reported $0.43 EPS for the quarter, topping the consensus estimate of $0.37 by $0.06. The firm had revenue of $581.30 million for the quarter, compared to the consensus estimate of $552.36 million. Wolverine World Wide had a net margin of 2.35% and a return on equity of 15.25%. The business’s revenue was down 3.7% compared to the same quarter last year. During the same period last year, the firm posted $0.49 earnings per share. sell-side analysts predict 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. Investors of record on Tuesday, January 2nd will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.75%. The ex-dividend date is Friday, December 29th. Wolverine World Wide’s payout ratio is 40.68%.
In related news, insider Michael Jeppesen sold 11,807 shares of Wolverine World Wide stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $27.97, for a total value of $330,241.79. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Joseph R. Gromek sold 18,928 shares of Wolverine World Wide stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $29.14, for a total transaction of $551,561.92. The disclosure for this sale can be found here. 5.65% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can boosted its holdings in Wolverine World Wide by 1.3% in 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 in the last quarter. Riverhead Capital Management LLC boosted its holdings in Wolverine World Wide by 62.2% in 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 in the last quarter. Miles Capital Inc. bought a new stake in Wolverine World Wide in the second quarter valued at $222,000. Advisory Services Network LLC boosted its holdings in Wolverine World Wide by 5.3% in the second quarter. Advisory Services Network LLC now owns 8,336 shares of the textile maker’s stock valued at $234,000 after acquiring an additional 421 shares in the last quarter. Finally, Bayesian Capital Management LP bought a new stake in Wolverine World Wide in the second quarter valued at $246,000. Institutional investors and hedge funds own 92.48% of the company’s stock.
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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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