Wolverine World Wide, Inc. (WWW) Given New $30.00 Price Target at Telsey Advisory Group
Wolverine World Wide, Inc. (NYSE:WWW) had its price objective increased by Telsey Advisory Group from $29.00 to $30.00 in a report published on Thursday. They currently have a market perform rating on the textile maker’s stock.
A number of other equities analysts have also commented on the company. KeyCorp reissued a hold rating on shares of Wolverine World Wide in a research note on Wednesday, October 11th. BidaskClub lowered Wolverine World Wide from a buy rating to a hold rating in a research note on Thursday, July 13th. Morgan Stanley boosted their price objective on Wolverine World Wide from $22.50 to $24.50 and gave the stock an equal weight rating in a research note on Monday, September 25th. Robert W. Baird reissued a buy rating and issued a $32.00 price objective on shares of Wolverine World Wide in a research note on Sunday, September 17th. Finally, ValuEngine lowered Wolverine World Wide from a buy rating to a hold rating in a research note on Thursday, August 24th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $25.65.
Shares of Wolverine World Wide (NYSE WWW) traded up $0.76 during mid-day trading on Thursday, reaching $27.75. The company had a trading volume of 1,229,957 shares, compared to its average volume of 784,731. The company has a current ratio of 3.09, a quick ratio of 1.95 and a debt-to-equity ratio of 0.74. The firm has a market cap of $2,670.00, a price-to-earnings ratio of 17.96, a price-to-earnings-growth ratio of 1.38 and a beta of 0.94. Wolverine World Wide has a twelve month low of $20.94 and a twelve month high of $29.62.
Wolverine World Wide (NYSE:WWW) last announced its quarterly earnings results on Wednesday, November 8th. The textile maker reported $0.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.06. The business had revenue of $581.30 million for the quarter, compared to analyst estimates of $552.36 million. Wolverine World Wide had a return on equity of 15.25% and a net margin of 2.35%. Wolverine World Wide’s quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.49 EPS. research analysts anticipate that Wolverine World Wide will post 1.62 EPS for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Tuesday, January 2nd will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Friday, December 29th. Wolverine World Wide’s dividend payout ratio (DPR) is presently 40.00%.
Several institutional investors and hedge funds have recently modified their holdings of the company. Wells Fargo & Company MN lifted its stake in shares of Wolverine World Wide by 32.0% during the third quarter. Wells Fargo & Company MN now owns 142,666 shares of the textile maker’s stock valued at $4,116,000 after acquiring an additional 34,555 shares during the period. Citadel Advisors LLC increased its holdings in Wolverine World Wide by 568.4% in the third quarter. Citadel Advisors LLC now owns 639,185 shares of the textile maker’s stock valued at $18,440,000 after purchasing an additional 543,559 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Wolverine World Wide by 12.8% in the third quarter. JPMorgan Chase & Co. now owns 1,686,193 shares of the textile maker’s stock valued at $48,799,000 after purchasing an additional 191,771 shares during the last quarter. Legal & General Group Plc increased its holdings in Wolverine World Wide by 2.8% in the third quarter. Legal & General Group Plc now owns 233,017 shares of the textile maker’s stock valued at $6,724,000 after purchasing an additional 6,429 shares during the last quarter. Finally, Nordea Investment Management AB increased its holdings in Wolverine World Wide by 1.8% in the third quarter. Nordea Investment Management AB now owns 437,236 shares of the textile maker’s stock valued at $12,614,000 after purchasing an additional 7,734 shares during the last quarter. 91.41% of the stock is currently owned by institutional investors and hedge funds.
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, and Chaco footwear; 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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