Wolverine World Wide, Inc. (NYSE:WWW) Receives $11.67 Average Target Price from Brokerages

Wolverine World Wide, Inc. (NYSE:WWWGet Free Report) has earned an average recommendation of “Hold” from the ten ratings firms that are currently covering the company, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $11.67.

Several research analysts recently weighed in on the company. Williams Trading raised Wolverine World Wide from a “hold” rating to a “buy” rating and increased their target price for the stock from $11.00 to $16.00 in a research report on Thursday, May 9th. UBS Group lifted their price objective on Wolverine World Wide from $11.00 to $13.00 and gave the company a “neutral” rating in a research note on Thursday, May 9th. Telsey Advisory Group reissued a “market perform” rating and set a $10.00 target price on shares of Wolverine World Wide in a research report on Wednesday, May 8th. Seaport Res Ptn upgraded shares of Wolverine World Wide from a “neutral” rating to a “buy” rating in a report on Monday, May 6th. Finally, Robert W. Baird boosted their price objective on shares of Wolverine World Wide from $9.00 to $13.00 and gave the stock a “neutral” rating in a research note on Thursday, May 9th.

Check Out Our Latest Report on Wolverine World Wide

Wolverine World Wide Trading Up 3.1 %

NYSE WWW opened at $13.15 on Friday. The company has a market cap of $1.05 billion, a P/E ratio of -14.14 and a beta of 1.73. Wolverine World Wide has a 12 month low of $7.21 and a 12 month high of $15.09. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.13 and a quick ratio of 0.65. The company has a 50-day moving average of $12.17 and a 200-day moving average of $10.31.

Wolverine World Wide (NYSE:WWWGet Free Report) last issued its quarterly earnings results on Wednesday, May 8th. The textile maker reported $0.05 EPS for the quarter, hitting the consensus estimate of $0.05. The firm had revenue of $394.90 million during the quarter, compared to analyst estimates of $360.31 million. Wolverine World Wide had a negative net margin of 3.59% and a positive return on equity of 0.53%. As a group, equities analysts predict that Wolverine World Wide will post 0.8 earnings per share for the current year.

Wolverine World Wide Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Monday, July 1st will be paid a dividend of $0.10 per share. The ex-dividend date is Monday, July 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.04%. Wolverine World Wide’s dividend payout ratio is currently -43.01%.

Insider Transactions at Wolverine World Wide

In related news, insider Isabel Soriano sold 3,201 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $13.89, for a total transaction of $44,461.89. Following the completion of the sale, the insider now directly owns 26,519 shares of the company’s stock, valued at approximately $368,348.91. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 2.28% of the company’s stock.

Institutional Trading of Wolverine World Wide

Several large investors have recently modified their holdings of the business. Callodine Capital Management LP acquired a new position in shares of Wolverine World Wide in the third quarter worth about $8,060,000. Intrinsic Edge Capital Management LLC purchased a new stake in Wolverine World Wide during the 4th quarter worth approximately $2,563,000. Lumbard & Kellner LLC acquired a new position in shares of Wolverine World Wide in the 1st quarter valued at approximately $3,211,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Wolverine World Wide by 18.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,668,623 shares of the textile maker’s stock valued at $13,449,000 after buying an additional 255,872 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its position in shares of Wolverine World Wide by 13.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,446,579 shares of the textile maker’s stock worth $11,659,000 after buying an additional 175,039 shares in the last quarter. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Wolverine World Wide Company Profile

(Get Free Report

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.

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Analyst Recommendations for Wolverine World Wide (NYSE:WWW)

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