Wolverine World Wide, Inc. (NYSE:WWW) Receives $17.86 Consensus Price Target from Analysts

Wolverine World Wide, Inc. (NYSE:WWW) has been assigned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $17.86.

Several research firms have issued reports on WWW. Robert W. Baird lifted their target price on Wolverine World Wide from $13.00 to $15.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Telsey Advisory Group reiterated a “market perform” rating and issued a $14.00 target price on shares of Wolverine World Wide in a research note on Wednesday, August 7th. KeyCorp upgraded Wolverine World Wide from a “sector weight” rating to an “overweight” rating and set a $20.00 target price on the stock in a research note on Thursday, August 8th. Piper Sandler reiterated an “overweight” rating and issued a $18.00 target price on shares of Wolverine World Wide in a research note on Friday, August 23rd. Finally, BNP Paribas upgraded Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 target price on the stock in a research note on Thursday, October 3rd.

Insider Transactions at Wolverine World Wide

In other news, insider David A. Latchana sold 7,706 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $17.02, for a total transaction of $131,156.12. Following the sale, the insider now owns 13,889 shares in the company, valued at approximately $236,390.78. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.28% of the company’s stock.

Institutional Investors Weigh In On Wolverine World Wide

A number of institutional investors and hedge funds have recently modified their holdings of the company. Earnest Partners LLC lifted its holdings in shares of Wolverine World Wide by 1.7% during the second quarter. Earnest Partners LLC now owns 5,321,797 shares of the textile maker’s stock worth $71,951,000 after purchasing an additional 90,407 shares during the period. Pacer Advisors Inc. acquired a new stake in shares of Wolverine World Wide during the second quarter worth about $64,295,000. Bank of New York Mellon Corp lifted its holdings in shares of Wolverine World Wide by 6.5% during the second quarter. Bank of New York Mellon Corp now owns 994,443 shares of the textile maker’s stock worth $13,445,000 after purchasing an additional 60,481 shares during the period. Sei Investments Co. lifted its holdings in shares of Wolverine World Wide by 1.8% during the first quarter. Sei Investments Co. now owns 688,530 shares of the textile maker’s stock worth $7,718,000 after purchasing an additional 12,266 shares during the period. Finally, Federated Hermes Inc. lifted its holdings in shares of Wolverine World Wide by 10,607.4% during the second quarter. Federated Hermes Inc. now owns 540,402 shares of the textile maker’s stock worth $7,306,000 after purchasing an additional 535,355 shares during the period. Institutional investors and hedge funds own 90.25% of the company’s stock.

Wolverine World Wide Stock Performance

Shares of Wolverine World Wide stock opened at $17.15 on Friday. The firm has a market cap of $1.37 billion, a P/E ratio of -16.18 and a beta of 1.77. The company has a current ratio of 1.19, a quick ratio of 0.74 and a debt-to-equity ratio of 2.14. Wolverine World Wide has a 12 month low of $7.52 and a 12 month high of $18.51. The stock’s fifty day moving average price is $14.93 and its 200-day moving average price is $13.39.

Wolverine World Wide (NYSE:WWW) last announced its quarterly earnings results on Wednesday, August 7th. The textile maker reported $0.15 EPS for the quarter, beating the consensus estimate of $0.10 by $0.05. The firm had revenue of $425.40 million for the quarter, compared to analyst estimates of $411.20 million. Wolverine World Wide had a negative return on equity of 0.34% and a negative net margin of 4.42%. The business’s revenue for the quarter was down 27.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.19 earnings per share. On average, equities research analysts expect that Wolverine World Wide will post 0.85 earnings per share for the current fiscal year.

Wolverine World Wide Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 1st will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.33%. Wolverine World Wide’s payout ratio is -37.74%.

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.