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

Shares of Wolverine World Wide, Inc. (NYSE:WWW) have been assigned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $21.50.

WWW has been the subject of a number of research analyst reports. UBS Group reduced their target price on shares of Wolverine World Wide from $29.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday, February 20th. StockNews.com lowered shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th. Stifel Nicolaus raised shares of Wolverine World Wide from a “hold” rating to a “buy” rating and upped their target price for the stock from $21.00 to $29.00 in a research note on Wednesday, December 11th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $23.00 target price on shares of Wolverine World Wide in a research note on Wednesday, February 19th. Finally, Robert W. Baird reduced their target price on shares of Wolverine World Wide from $21.00 to $18.00 and set a “neutral” rating for the company in a research note on Thursday, February 20th.

Wolverine World Wide Stock Performance

Shares of Wolverine World Wide stock opened at $13.33 on Monday. The firm has a fifty day moving average of $19.20 and a two-hundred day moving average of $19.01. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of 24.23 and a beta of 1.93. Wolverine World Wide has a 52 week low of $9.07 and a 52 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.

Wolverine World Wide (NYSE:WWW) last issued its earnings results on Wednesday, February 19th. The textile maker reported $0.42 EPS for the quarter, meeting 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 company had revenue of $494.70 million during the quarter, compared to analysts’ expectations of $485.74 million. During the same quarter in the previous year, the company posted ($0.30) EPS. The business’s revenue for the quarter was down 6.1% compared to the same quarter last year. As a group, equities research analysts predict that Wolverine World Wide will post 1.23 EPS for the current year.

Wolverine World Wide Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 1st will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 3.00%. The ex-dividend date is Tuesday, April 1st. Wolverine World Wide’s payout ratio is currently 72.73%.

Hedge Funds Weigh In On Wolverine World Wide

Several large investors have recently modified their holdings of the business. FMR LLC grew its holdings in Wolverine World Wide by 2.2% in the fourth quarter. FMR LLC now owns 11,766,527 shares of the textile maker’s stock worth $261,217,000 after purchasing an additional 249,456 shares during the period. Earnest Partners LLC grew its holdings in Wolverine World Wide by 0.4% in the fourth quarter. Earnest Partners LLC now owns 5,228,918 shares of the textile maker’s stock worth $116,082,000 after purchasing an additional 19,295 shares during the period. State Street Corp grew its holdings in Wolverine World Wide by 0.5% in the third quarter. State Street Corp now owns 3,065,736 shares of the textile maker’s stock worth $53,405,000 after purchasing an additional 16,228 shares during the period. Pacer Advisors Inc. acquired a new stake in Wolverine World Wide in the fourth quarter worth $64,943,000. Finally, JPMorgan Chase & Co. grew its holdings in Wolverine World Wide by 70.0% in the fourth quarter. JPMorgan Chase & Co. now owns 2,425,858 shares of the textile maker’s stock worth $53,854,000 after purchasing an additional 998,916 shares during the period. Institutional investors own 90.25% of the company’s stock.

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.