Williams Capital Reaffirms “Downgrade” Rating for Wolverine World Wide (NYSE:WWW)

Williams Capital reissued their downgrade rating on shares of Wolverine World Wide (NYSE:WWWGet Rating) in a research report report published on Monday morning, Benzinga reports.

Other equities analysts have also issued reports about the company. Piper Sandler reaffirmed an overweight rating and set a $30.00 price target on shares of Wolverine World Wide in a research note on Tuesday. Stifel Nicolaus lowered Wolverine World Wide from a buy rating to a hold rating and reduced their target price for the company from $26.00 to $23.00 in a report on Wednesday, July 20th. CL King cut their price objective on Wolverine World Wide from $42.00 to $29.00 in a report on Thursday, May 12th. StockNews.com began coverage on Wolverine World Wide in a report on Thursday, March 31st. They set a hold rating for the company. Finally, William Blair downgraded shares of Wolverine World Wide to a hold rating and set a $24.00 target price on the stock. in a research report on Monday. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $31.80.

Wolverine World Wide Trading Up 1.7 %

WWW stock traded up $0.38 during trading on Monday, reaching $22.32. 3,583 shares of the stock traded hands, compared to its average volume of 615,407. The business’s 50 day moving average price is $20.86 and its 200-day moving average price is $22.44. Wolverine World Wide has a 52-week low of $16.65 and a 52-week high of $38.07. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.11 and a quick ratio of 0.61. The firm has a market capitalization of $1.80 billion, a PE ratio of 47.15 and a beta of 1.69.

Wolverine World Wide (NYSE:WWWGet Rating) last released its quarterly earnings results on Wednesday, May 11th. The textile maker reported $0.41 EPS for the quarter, topping the consensus estimate of $0.39 by $0.02. Wolverine World Wide had a return on equity of 27.39% and a net margin of 1.57%. The business had revenue of $614.80 million for the quarter, compared to analysts’ expectations of $605.12 million. As a group, sell-side analysts forecast that Wolverine World Wide will post 2.55 earnings per share for the current year.

Wolverine World Wide Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 1st. Shareholders of record on Friday, July 1st will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, June 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.79%. Wolverine World Wide’s payout ratio is presently 85.11%.

Institutional Trading of Wolverine World Wide

Large investors have recently made changes to their positions in the company. Signaturefd LLC lifted its stake in Wolverine World Wide by 3,394.7% in the 1st quarter. Signaturefd LLC now owns 1,328 shares of the textile maker’s stock valued at $30,000 after purchasing an additional 1,290 shares during the last quarter. US Asset Management LLC bought a new position in Wolverine World Wide in the 1st quarter valued at approximately $52,000. Cornerstone Advisory LLC bought a new position in Wolverine World Wide in the 4th quarter valued at approximately $62,000. Alpha Paradigm Partners LLC bought a new position in Wolverine World Wide in the 4th quarter valued at approximately $74,000. Finally, Huntington National Bank lifted its stake in Wolverine World Wide by 37.5% in the 1st quarter. Huntington National Bank now owns 5,297 shares of the textile maker’s stock valued at $120,000 after purchasing an additional 1,445 shares during the last quarter. Institutional investors and hedge funds own 93.90% of the company’s stock.

Wolverine World Wide Company Profile

(Get Rating)

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. The company operates through two segments, Wolverine Michigan Group and Wolverine Boston Group.

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