Wolverine World Wide (NYSE:WWW) Raised to Outperform at BNP Paribas

BNP Paribas upgraded shares of Wolverine World Wide (NYSE:WWW) from a neutral rating to an outperform rating in a research report released on Thursday, Marketbeat.com reports. The brokerage currently has $22.00 price objective on the textile maker’s stock.

A number of other analysts have also recently weighed in on the stock. Piper Sandler reissued an overweight rating and issued a $18.00 target price on shares of Wolverine World Wide in a research note on Friday, August 23rd. Argus raised shares of Wolverine World Wide to a hold rating in a research note on Friday, August 16th. UBS Group raised shares of Wolverine World Wide from a neutral rating to a buy rating and upped their target price for the company from $13.00 to $20.00 in a research note on Friday, July 19th. Telsey Advisory Group reissued a market perform rating and issued a $14.00 target price on shares of Wolverine World Wide in a research note on Wednesday, August 7th. Finally, KeyCorp raised shares of Wolverine World Wide from a sector weight rating to an overweight rating and set a $20.00 price objective on the stock in a research note on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $17.86.

Wolverine World Wide Stock Down 1.2 %

Shares of WWW opened at $17.79 on Thursday. The company has a 50-day simple moving average of $14.33 and a 200-day simple moving average of $12.96. The firm has a market capitalization of $1.42 billion, a P/E ratio of -19.13 and a beta of 1.77. The company has a debt-to-equity ratio of 2.14, a quick ratio of 0.74 and a current ratio of 1.19. Wolverine World Wide has a 52 week low of $7.21 and a 52 week high of $18.51.

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

Wolverine World Wide Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 1st will be paid a dividend of $0.10 per share. The ex-dividend date is Tuesday, October 1st. This represents a $0.40 annualized dividend and a dividend yield of 2.25%. Wolverine World Wide’s dividend payout ratio (DPR) is currently -43.01%.

Insider Activity

In other news, insider David A. Latchana sold 7,706 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $17.02, for a total transaction of $131,156.12. Following the sale, the insider now directly owns 13,889 shares of the company’s stock, valued at $236,390.78. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.28% of the stock is owned by insiders.

Hedge Funds Weigh In On Wolverine World Wide

Large investors have recently bought and sold shares of the business. GAMMA Investing LLC lifted its holdings in Wolverine World Wide by 42.5% in the first quarter. GAMMA Investing LLC now owns 4,504 shares of the textile maker’s stock valued at $50,000 after buying an additional 1,343 shares during the period. Canada Pension Plan Investment Board acquired a new position in Wolverine World Wide in the second quarter valued at approximately $68,000. Central Pacific Bank Trust Division acquired a new position in Wolverine World Wide in the first quarter valued at approximately $81,000. Natixis acquired a new position in Wolverine World Wide in the first quarter valued at approximately $112,000. Finally, EntryPoint Capital LLC acquired a new stake in Wolverine World Wide in the first quarter worth $141,000. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Wolverine World Wide Company Profile

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.