Brokerages Set Wolverine World Wide, Inc. (NYSE:WWW) Price Target at $18.13

Shares of Wolverine World Wide, Inc. (NYSE:WWW) have earned an average rating of “Moderate Buy” from the nine ratings firms that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $19.71.

A number of research analysts have issued reports on the company. Telsey Advisory Group reissued a “market perform” rating and issued a $17.00 target price on shares of Wolverine World Wide in a research note on Friday. Stifel Nicolaus cut their price target on Wolverine World Wide from $27.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Piper Sandler decreased their price objective on Wolverine World Wide from $27.00 to $18.00 and set an “overweight” rating for the company in a report on Friday, April 11th. StockNews.com cut shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th. Finally, UBS Group increased their target price on shares of Wolverine World Wide from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Friday.

Institutional Investors Weigh In On Wolverine World Wide

Several hedge funds have recently added to or reduced their stakes in WWW. FMR LLC increased its holdings in shares of Wolverine World Wide by 2.2% in the fourth quarter. FMR LLC now owns 11,766,527 shares of the textile maker’s stock valued at $261,217,000 after purchasing an additional 249,456 shares during the last quarter. Vanguard Group Inc. lifted its position in Wolverine World Wide by 0.5% during the first quarter. Vanguard Group Inc. now owns 9,005,788 shares of the textile maker’s stock worth $125,271,000 after acquiring an additional 45,779 shares during the last quarter. Earnest Partners LLC boosted its holdings in shares of Wolverine World Wide by 0.4% during the fourth quarter. Earnest Partners LLC now owns 5,228,918 shares of the textile maker’s stock worth $116,082,000 after acquiring an additional 19,295 shares during the period. Pacer Advisors Inc. bought a new position in Wolverine World Wide during the 4th quarter worth $64,943,000. Finally, JPMorgan Chase & Co. grew its stake in shares of 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 valued at $53,854,000 after acquiring an additional 998,916 shares in the last quarter. Institutional investors and hedge funds own 90.25% of the company’s stock.

Wolverine World Wide Price Performance

WWW opened at $15.29 on Tuesday. The company has a fifty day moving average price of $13.01 and a two-hundred day moving average price of $18.15. The firm has a market capitalization of $1.24 billion, a PE ratio of 27.80 and a beta of 1.62. Wolverine World Wide has a 52 week low of $9.58 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 released its earnings results on Thursday, May 8th. The textile maker reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.07. The firm had revenue of $412.30 million for the quarter, compared to analyst estimates of $395.94 million. Wolverine World Wide had a return on equity of 26.81% and a net margin of 2.73%. The company’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.11 earnings per share. As a group, analysts anticipate that Wolverine World Wide will post 1.23 earnings per share for the current year.

Wolverine World Wide Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Tuesday, July 1st will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date is Tuesday, July 1st. Wolverine World Wide’s payout ratio is currently 72.73%.

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.