Wolverine World Wide, Inc. (NYSE:WWW) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Wolverine World Wide, Inc. (NYSE:WWW) has received a consensus recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $20.25.

WWW has been the subject of a number of analyst reports. Telsey Advisory Group reiterated 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. Stifel Nicolaus dropped their target price on shares of Wolverine World Wide from $27.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. UBS Group reduced their target price on Wolverine World Wide from $29.00 to $26.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Piper Sandler cut their price target on Wolverine World Wide from $27.00 to $18.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. Finally, StockNews.com cut Wolverine World Wide from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th.

Hedge Funds Weigh In On Wolverine World Wide

Several institutional investors and hedge funds have recently added to or reduced their stakes in WWW. The Manufacturers Life Insurance Company increased its stake in Wolverine World Wide by 26.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 38,507 shares of the textile maker’s stock valued at $671,000 after purchasing an additional 7,995 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of Wolverine World Wide by 31.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 41,586 shares of the textile maker’s stock worth $724,000 after purchasing an additional 9,927 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Wolverine World Wide by 4.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 184,108 shares of the textile maker’s stock valued at $3,207,000 after buying an additional 8,187 shares in the last quarter. Captrust Financial Advisors grew its holdings in Wolverine World Wide by 21.3% during the 3rd quarter. Captrust Financial Advisors now owns 25,167 shares of the textile maker’s stock valued at $438,000 after buying an additional 4,413 shares during the last quarter. Finally, HighTower Advisors LLC purchased a new position in Wolverine World Wide during the third quarter worth $192,000. Institutional investors and hedge funds own 90.25% of the company’s stock.

Wolverine World Wide Trading Down 2.9 %

WWW opened at $10.74 on Friday. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.29 and a quick ratio of 0.77. The stock has a market capitalization of $869.91 million, a price-to-earnings ratio of 19.52 and a beta of 1.74. The business has a fifty day moving average price of $14.41 and a 200 day moving average price of $18.62. Wolverine World Wide has a 12 month low of $9.15 and a 12 month high of $24.64.

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

Wolverine World Wide Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 1st will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 3.73%. The ex-dividend date is Tuesday, April 1st. Wolverine World Wide’s dividend payout ratio (DPR) is presently 72.73%.

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.