Stifel Nicolaus Cuts Wolverine World Wide (NYSE:WWW) Price Target to $19.00

Wolverine World Wide (NYSE:WWW) had its target price decreased by Stifel Nicolaus from $27.00 to $19.00 in a research report sent to investors on Thursday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the textile maker’s stock.

Several other research firms have also weighed in on WWW. StockNews.com lowered Wolverine World Wide from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th. Robert W. Baird cut their price objective on Wolverine World Wide from $21.00 to $18.00 and set a “neutral” rating on the stock in a report on Thursday, February 20th. Telsey Advisory Group reissued a “market perform” rating and set a $23.00 target price on shares of Wolverine World Wide in a research note on Wednesday, February 19th. Finally, UBS Group cut their price target on shares of Wolverine World Wide from $29.00 to $26.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $20.25.

Wolverine World Wide Stock Performance

Shares of WWW stock opened at $11.13 on Thursday. The stock has a market cap of $901.51 million, a PE ratio of 20.23 and a beta of 1.74. The stock has a 50-day moving average of $15.06 and a 200-day moving average of $18.74. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.29 and a quick ratio of 0.77. Wolverine World Wide has a one year low of $9.07 and a one year high of $24.64.

Wolverine World Wide (NYSE:WWW) last issued its earnings results on Wednesday, February 19th. The textile maker reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. The firm had revenue of $494.70 million during the quarter, compared to the consensus estimate of $485.74 million. Wolverine World Wide had a net margin of 2.73% and a return on equity of 26.81%. The business’s quarterly revenue was down 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.30) earnings per share. As a group, sell-side analysts expect that Wolverine World Wide will post 1.23 earnings per share for the current year.

Wolverine World Wide Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 1st will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date is Tuesday, April 1st. Wolverine World Wide’s dividend payout ratio is presently 72.73%.

Institutional Investors Weigh In On Wolverine World Wide

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WWW. SBI Securities Co. Ltd. acquired a new position in shares of Wolverine World Wide during the 4th quarter worth about $25,000. Signaturefd LLC raised its holdings in Wolverine World Wide by 88.8% during the fourth quarter. Signaturefd LLC now owns 1,450 shares of the textile maker’s stock worth $32,000 after acquiring an additional 682 shares in the last quarter. Natixis acquired a new position in Wolverine World Wide during the fourth quarter valued at approximately $41,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Wolverine World Wide in the fourth quarter valued at approximately $64,000. Finally, KBC Group NV increased its position in shares of Wolverine World Wide by 43.8% during the 4th quarter. KBC Group NV now owns 4,303 shares of the textile maker’s stock worth $96,000 after purchasing an additional 1,311 shares during the last quarter. 90.25% of the stock is currently owned by institutional investors and hedge funds.

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.