Brokerages Set Wolverine World Wide, Inc. (NYSE:WWW) PT at $17.17

Wolverine World Wide, Inc. (NYSE:WWW) has been given an average recommendation of “Moderate Buy” by the eight ratings firms that are presently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $17.17.

A number of equities analysts recently weighed in on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $18.00 price objective on shares of Wolverine World Wide in a research report on Friday, August 23rd. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $14.00 price objective on shares of Wolverine World Wide in a research note on Wednesday, August 7th. KeyCorp raised Wolverine World Wide from a “sector weight” rating to an “overweight” rating and set a $20.00 target price on the stock in a research note on Thursday, August 8th. UBS Group upgraded Wolverine World Wide from a “neutral” rating to a “buy” rating and raised their target price for the company from $13.00 to $20.00 in a report on Friday, July 19th. Finally, Robert W. Baird boosted their price target on shares of Wolverine World Wide from $13.00 to $15.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th.

Wolverine World Wide Price Performance

WWW stock opened at $17.51 on Monday. Wolverine World Wide has a 52-week low of $7.21 and a 52-week high of $17.57. The company has a quick ratio of 0.74, a current ratio of 1.19 and a debt-to-equity ratio of 2.14. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of -18.83 and a beta of 1.76. The business has a fifty day moving average of $13.95 and a two-hundred day moving average of $12.63.

Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings data on Wednesday, August 7th. The textile maker reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.05. The firm had revenue of $425.40 million during the quarter, compared to the consensus estimate of $411.20 million. Wolverine World Wide had a negative return on equity of 0.34% and a negative net margin of 4.42%. The company’s quarterly revenue was down 27.8% on a year-over-year basis. During the same period last year, the company earned $0.19 EPS. As a group, research analysts anticipate that Wolverine World Wide will post 0.85 earnings per share for the current year.

Wolverine World Wide Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 1st will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.28%. The ex-dividend date of this dividend is Tuesday, October 1st. Wolverine World Wide’s payout ratio is presently -43.01%.

Institutional Trading of Wolverine World Wide

A number of large investors have recently made changes to their positions in WWW. Victory Capital Management Inc. grew its holdings in Wolverine World Wide by 40.1% during the 4th quarter. Victory Capital Management Inc. now owns 21,623 shares of the textile maker’s stock worth $192,000 after acquiring an additional 6,189 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Wolverine World Wide by 6.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,771,991 shares of the textile maker’s stock worth $15,753,000 after purchasing an additional 103,368 shares during the last quarter. Connable Office Inc. acquired a new position in shares of Wolverine World Wide during the fourth quarter worth $137,000. Pacific Ridge Capital Partners LLC purchased a new position in Wolverine World Wide in the fourth quarter valued at $465,000. Finally, Intrinsic Edge Capital Management LLC acquired a new stake in Wolverine World Wide in the fourth quarter valued at $2,563,000. 90.25% of the stock is currently owned by hedge funds and other 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.