Robert W. Baird Cuts Wolverine World Wide (NYSE:WWW) Price Target to $18.00

Wolverine World Wide (NYSE:WWW) had its price objective lowered by Robert W. Baird from $21.00 to $18.00 in a report published on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the textile maker’s stock.

Several other research analysts also recently commented on WWW. Telsey Advisory Group restated a “market perform” rating and set a $23.00 price objective on shares of Wolverine World Wide in a research report on Wednesday. StockNews.com cut Wolverine World Wide from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th. Finally, Stifel Nicolaus raised Wolverine World Wide from a “hold” rating to a “buy” rating and raised their price objective for the company from $21.00 to $29.00 in a research note on Wednesday, December 11th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $21.50.

Wolverine World Wide Stock Performance

NYSE:WWW opened at $15.16 on Thursday. The company has a market cap of $1.21 billion, a price-to-earnings ratio of 27.55 and a beta of 1.88. Wolverine World Wide has a fifty-two week low of $9.06 and a fifty-two week high of $24.64. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.77 and a current ratio of 1.29. The stock has a fifty day moving average price of $21.71 and a 200-day moving average price of $18.79.

Wolverine World Wide (NYSE:WWW) last posted its quarterly earnings data on Wednesday, February 19th. The textile maker reported $0.42 earnings per share for the quarter, hitting the consensus estimate of $0.42. Wolverine World Wide had a net margin of 2.73% and a return on equity of 26.81%. The business had revenue of $494.70 million during the quarter, compared to analysts’ expectations of $485.74 million. During the same quarter in the prior year, the business posted ($0.30) earnings per share. Wolverine World Wide’s revenue was down 6.1% compared to the same quarter last year. As a group, equities analysts anticipate that Wolverine World Wide will post 1.23 EPS for the current fiscal year.

Wolverine World Wide Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 1st will be issued a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.40 dividend on an annualized basis and a yield of 2.64%. Wolverine World Wide’s payout ratio is 72.73%.

Insiders Place Their Bets

In other Wolverine World Wide news, insider Isabel Soriano sold 7,687 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $23.57, for a total transaction of $181,182.59. Following the completion of the transaction, the insider now owns 34,206 shares in the company, valued at approximately $806,235.42. This trade represents a 18.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.28% of the company’s stock.

Institutional Investors Weigh In On Wolverine World Wide

Institutional investors have recently modified their holdings of the company. SBI Securities Co. Ltd. acquired a new position in Wolverine World Wide in the fourth quarter valued at $25,000. Signaturefd LLC lifted its stake in shares of Wolverine World Wide by 88.8% in the 4th quarter. Signaturefd LLC now owns 1,450 shares of the textile maker’s stock valued at $32,000 after purchasing an additional 682 shares during the period. Natixis bought a new stake in shares of Wolverine World Wide during the 4th quarter valued at about $41,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Wolverine World Wide during the fourth quarter worth approximately $64,000. Finally, KBC Group NV increased its holdings in Wolverine World Wide by 43.8% in the fourth quarter. KBC Group NV now owns 4,303 shares of the textile maker’s stock worth $96,000 after purchasing an additional 1,311 shares in the last quarter. 90.25% of the stock is owned by institutional investors.

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.