Wolverine World Wide, Inc. (NYSE:WWW) Given Consensus Rating of “Moderate Buy” by Analysts

Wolverine World Wide, Inc. (NYSE:WWW) has received an average rating of “Moderate Buy” from the eight analysts that are currently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $17.17.

Several brokerages recently commented on WWW. UBS Group raised shares of Wolverine World Wide from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $13.00 to $20.00 in a report on Friday, July 19th. KeyCorp raised shares of Wolverine World Wide from a “sector weight” rating to an “overweight” rating and set a $20.00 price objective for the company in a report on Thursday, August 8th. Argus raised shares of Wolverine World Wide to a “hold” rating in a report on Friday, August 16th. Telsey Advisory Group reissued a “market perform” rating and issued a $14.00 price objective on shares of Wolverine World Wide in a report on Wednesday, August 7th. Finally, Williams Trading raised shares of Wolverine World Wide from a “hold” rating to a “buy” rating and boosted their price objective for the company from $11.00 to $16.00 in a report on Thursday, May 9th.

Hedge Funds Weigh In On Wolverine World Wide

Institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC acquired a new position in Wolverine World Wide during the 4th quarter worth approximately $26,000. Canada Pension Plan Investment Board acquired a new position in Wolverine World Wide in the 2nd quarter valued at approximately $68,000. Central Pacific Bank Trust Division acquired a new position in Wolverine World Wide in the 1st quarter valued at approximately $81,000. Natixis acquired a new position in Wolverine World Wide in the 1st quarter valued at approximately $112,000. Finally, XTX Topco Ltd acquired a new position in Wolverine World Wide in the 2nd quarter valued at approximately $146,000. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Wolverine World Wide Stock Performance

Shares of WWW opened at $13.60 on Thursday. The firm has a 50-day moving average of $13.34 and a 200-day moving average of $11.91. Wolverine World Wide has a one year low of $7.21 and a one year high of $15.23. The company has a market cap of $1.09 billion, a PE ratio of -14.62 and a beta of 1.76. The company has a debt-to-equity ratio of 2.14, a current ratio of 1.19 and a quick ratio of 0.74.

Wolverine World Wide (NYSE:WWW) last announced its earnings results on Wednesday, August 7th. The textile maker reported $0.15 EPS for the quarter, topping the consensus estimate of $0.10 by $0.05. The business had revenue of $425.40 million during the quarter, compared to the consensus estimate of $411.20 million. Wolverine World Wide had a negative net margin of 4.42% and a negative return on equity of 0.34%. Wolverine World Wide’s revenue was down 27.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.19 EPS. As a group, equities analysts forecast that Wolverine World Wide will post 0.85 earnings per share for the current year.

Wolverine World Wide Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 1st will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date of this dividend is Tuesday, October 1st. Wolverine World Wide’s dividend payout ratio is -43.01%.

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.