Wolverine World Wide (NYSE:WWW) Price Target Cut to $18.00 by Analysts at Piper Sandler

Wolverine World Wide (NYSE:WWW) had its price objective cut by Piper Sandler from $27.00 to $18.00 in a report published on Friday,Benzinga reports. They currently have an overweight rating on the textile maker’s stock.

WWW has been the topic of a number of other research reports. Telsey Advisory Group reissued a “market perform” rating and set a $23.00 price target on shares of Wolverine World Wide in a research report on Wednesday, February 19th. UBS Group decreased their price target on Wolverine World Wide from $29.00 to $26.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. StockNews.com cut shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th. Robert W. Baird decreased their target price on shares of Wolverine World Wide from $21.00 to $18.00 and set a “neutral” rating on the stock in a report on Thursday, February 20th. Finally, Stifel Nicolaus cut their price target on shares of Wolverine World Wide from $27.00 to $19.00 and set a “buy” rating for the company in a report on Thursday. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $20.25.

Wolverine World Wide Stock Down 0.6 %

WWW opened at $11.08 on Friday. The stock has a fifty day moving average of $14.84 and a 200-day moving average of $18.71. The company has a market capitalization of $897.46 million, a P/E ratio of 20.14 and a beta of 1.74. Wolverine World Wide has a fifty-two week low of $9.07 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.

Wolverine World Wide (NYSE:WWW) last issued 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 previous year, the company earned ($0.30) EPS. The business’s revenue was down 6.1% on a year-over-year basis. On average, equities analysts expect that Wolverine World Wide will post 1.23 EPS for the current year.

Wolverine World Wide Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 1st will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 3.61%. The ex-dividend date is Tuesday, April 1st. Wolverine World Wide’s dividend payout ratio is currently 72.73%.

Institutional Investors Weigh In On Wolverine World Wide

Several hedge funds have recently added to or reduced their stakes in WWW. The Manufacturers Life Insurance Company raised its stake in shares of Wolverine World Wide by 26.2% during the third quarter. The Manufacturers Life Insurance Company now owns 38,507 shares of the textile maker’s stock valued at $671,000 after acquiring an additional 7,995 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in Wolverine World Wide by 31.4% in the third quarter. BNP Paribas Financial Markets now owns 41,586 shares of the textile maker’s stock valued at $724,000 after purchasing an additional 9,927 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Wolverine World Wide by 4.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 184,108 shares of the textile maker’s stock worth $3,207,000 after purchasing an additional 8,187 shares during the last quarter. Captrust Financial Advisors lifted its holdings in Wolverine World Wide by 21.3% during the 3rd quarter. Captrust Financial Advisors now owns 25,167 shares of the textile maker’s stock worth $438,000 after buying an additional 4,413 shares during the period. Finally, HighTower Advisors LLC bought a new stake in shares of Wolverine World Wide in the 3rd quarter valued at about $192,000. 90.25% of the stock is currently owned by institutional investors and hedge funds.

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.