Wolverine World Wide, Inc. (NYSE:WWW) has received an average recommendation of “Hold” from the thirteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, six have given a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $37.91.
Several brokerages recently commented on WWW. ValuEngine cut Wolverine World Wide from a “hold” rating to a “sell” rating in a research report on Monday, May 20th. Zacks Investment Research cut HANNOVER RUECK/S from a “hold” rating to a “sell” rating in a report on Monday, April 22nd. Argus cut Wolverine World Wide from a “buy” rating to a “hold” rating and set a $29.19 price objective for the company. in a report on Friday, May 17th. Finally, DA Davidson set a $40.00 price objective on Wolverine World Wide and gave the company a “buy” rating in a report on Friday, May 10th.
WWW stock traded down $0.11 during midday trading on Friday, hitting $27.32. The stock had a trading volume of 22,804 shares, compared to its average volume of 669,621. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of 12.59, a price-to-earnings-growth ratio of 1.18 and a beta of 1.10. Wolverine World Wide has a 52 week low of $26.54 and a 52 week high of $39.77. The stock’s 50-day simple moving average is $27.68. The company has a quick ratio of 0.85, a current ratio of 1.48 and a debt-to-equity ratio of 0.64.
Wolverine World Wide (NYSE:WWW) last issued its earnings results on Thursday, May 9th. The textile maker reported $0.49 EPS for the quarter, topping the consensus estimate of $0.47 by $0.02. The firm had revenue of $523.40 million during the quarter, compared to analysts’ expectations of $535.82 million. Wolverine World Wide had a return on equity of 20.97% and a net margin of 8.70%. Wolverine World Wide’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period last year, the business earned $0.50 earnings per share. Equities analysts forecast that Wolverine World Wide will post 2.3 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Monday, July 1st will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.46%. Wolverine World Wide’s dividend payout ratio (DPR) is presently 18.43%.
In other news, Director Jeffrey M. Boromisa acquired 10,000 shares of the stock in a transaction that occurred on Friday, May 31st. The stock was purchased at an average cost of $27.92 per share, for a total transaction of $279,200.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.93% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in WWW. Quadrant Capital Group LLC increased its position in Wolverine World Wide by 216.5% in the first quarter. Quadrant Capital Group LLC now owns 2,453 shares of the textile maker’s stock worth $85,000 after purchasing an additional 1,678 shares during the period. Pinnacle Financial Partners Inc. acquired a new position in shares of Wolverine World Wide during the 1st quarter worth about $158,000. Investors Research Corp acquired a new position in shares of Wolverine World Wide during the 1st quarter worth about $197,000. Papp L Roy & Associates acquired a new position in shares of Wolverine World Wide during the 1st quarter worth about $218,000. Finally, Financial Counselors Inc. acquired a new position in shares of Wolverine World Wide during the 1st quarter worth about $239,000. Hedge funds and other institutional investors own 91.48% of the company’s stock.
Wolverine World Wide Company Profile
Wolverine World Wide, Inc designs, manufactures, sources, markets, licenses, and distributes footwear, apparel, and accessories. The company operates through three segments: Wolverine Outdoor & Lifestyle Group, Wolverine Boston Group, and Wolverine Heritage Group. It offers casual footwear and apparel; performance outdoor and athletic footwear and apparel; kids' footwear; industrial work boots and apparel; and uniform shoes and boots.
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