BidaskClub Lowers Wolverine World Wide, Inc. (WWW) to Hold
BidaskClub lowered shares of Wolverine World Wide, Inc. (NYSE:WWW) from a buy rating to a hold rating in a research report sent to investors on Thursday, July 13th.
A number of other brokerages have also commented on WWW. B. Riley reissued a neutral rating and set a $26.00 price objective on shares of Wolverine World Wide in a report on Monday, May 8th. Zacks Investment Research downgraded Wolverine World Wide from a buy rating to a hold rating in a research note on Tuesday, May 16th. Robert W. Baird upgraded Wolverine World Wide from a neutral rating to an outperform rating and raised their price objective for the stock from $29.00 to $30.00 in a research report on Wednesday, May 17th. Piper Jaffray Companies restated a hold rating and set a $24.00 target price on shares of Wolverine World Wide in a research report on Friday, June 9th. Finally, TheStreet upgraded Wolverine World Wide from a c+ rating to a b rating in a research report on Wednesday, May 10th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $23.57.
Wolverine World Wide (NYSE WWW) opened at 27.78 on Thursday. The firm has a 50-day moving average of $27.26 and a 200-day moving average of $25.30. Wolverine World Wide has a 52-week low of $20.58 and a 52-week high of $28.64. The firm has a market cap of $2.69 billion, a PE ratio of 31.53 and a beta of 0.94.
Wolverine World Wide (NYSE:WWW) last issued its earnings results on Wednesday, May 10th. The textile maker reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.06. Wolverine World Wide had a return on equity of 14.14% and a net margin of 3.47%. The company had revenue of $591.30 million for the quarter, compared to analyst estimates of $557.53 million. During the same period in the prior year, the firm posted $0.29 EPS. The business’s revenue was up 2.4% compared to the same quarter last year. Equities analysts anticipate that Wolverine World Wide will post $1.55 EPS for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Monday, October 2nd will be given a $0.06 dividend. The ex-dividend date is Friday, September 29th. This represents a $0.24 annualized dividend and a dividend yield of 0.86%. Wolverine World Wide’s dividend payout ratio is currently 27.27%.
A number of hedge funds and other institutional investors have recently bought and sold shares of WWW. BlackRock Inc. raised its position in Wolverine World Wide by 55,444.0% in the first quarter. BlackRock Inc. now owns 12,193,018 shares of the textile maker’s stock valued at $304,461,000 after buying an additional 12,171,066 shares in the last quarter. Wellington Management Group LLP raised its position in Wolverine World Wide by 1,032.2% in the first quarter. Wellington Management Group LLP now owns 2,826,644 shares of the textile maker’s stock valued at $70,581,000 after buying an additional 2,576,990 shares in the last quarter. Norges Bank acquired a new position in Wolverine World Wide during the fourth quarter valued at $35,744,000. Goldman Sachs Group Inc. raised its position in Wolverine World Wide by 670.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,854,762 shares of the textile maker’s stock valued at $46,313,000 after buying an additional 1,613,970 shares in the last quarter. Finally, FMR LLC raised its position in Wolverine World Wide by 217.6% in the fourth quarter. FMR LLC now owns 1,813,364 shares of the textile maker’s stock valued at $39,803,000 after buying an additional 1,242,338 shares in the last quarter. Hedge funds and other institutional investors own 91.72% of the company’s stock.
About Wolverine World Wide
Wolverine World Wide, Inc is a designer, manufacturer and marketer of a range of casual footwear and apparel, outdoor and athletic footwear and apparel, children’s footwear, industrial work boots and apparel, and uniform shoes and boots. It operates in four segments: Wolverine Outdoor & Lifestyle Group, which offers Merrell footwear and apparel, Cat footwear, Hush Puppies footwear and apparel, Chaco footwear, and Sebago footwear and apparel; Wolverine Boston Group, which offers Sperry footwear and apparel, Saucony footwear and apparel, and Keds footwear and apparel; Wolverine Heritage Group, which offers Wolverine footwear and apparel, Bates uniform footwear, Harley-Davidson footwear and HyTest safety footwear, and Wolverine Multi-Brand Group, which offers Stride Rite footwear and apparel, and its multi-brand consumer-direct businesses.
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