Brokerages Set Wolverine World Wide, Inc. (NYSE:WWW) Price Target at $19.75

Shares of Wolverine World Wide, Inc. (NYSE:WWW) have earned a consensus recommendation of “Buy” from the nine brokerages that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $19.75.

A number of equities research analysts have recently weighed in on WWW shares. Argus raised shares of Wolverine World Wide from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a report on Friday, May 16th. Piper Sandler dropped their price objective on shares of Wolverine World Wide from $27.00 to $18.00 and set an “overweight” rating on the stock in a report on Friday, April 11th. UBS Group boosted their price objective on shares of Wolverine World Wide from $18.00 to $22.00 and gave the company a “buy” rating in a report on Friday, May 9th. Stifel Nicolaus dropped their price objective on shares of Wolverine World Wide from $27.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $17.00 price objective on shares of Wolverine World Wide in a report on Friday, May 9th.

Institutional Investors Weigh In On Wolverine World Wide

Hedge funds have recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new stake in shares of Wolverine World Wide during the 4th quarter worth about $25,000. Signaturefd LLC raised its position in shares of Wolverine World Wide by 88.8% during the 4th quarter. Signaturefd LLC now owns 1,450 shares of the textile maker’s stock worth $32,000 after purchasing an additional 682 shares during the last quarter. Natixis acquired a new position in shares of Wolverine World Wide during the 4th quarter worth about $41,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Wolverine World Wide during the 4th quarter worth about $64,000. Finally, KBC Group NV raised its position in shares of Wolverine World Wide by 43.8% during the 4th quarter. KBC Group NV now owns 4,303 shares of the textile maker’s stock worth $96,000 after purchasing an additional 1,311 shares during the last quarter. 90.25% of the stock is owned by hedge funds and other institutional investors.

Wolverine World Wide Stock Performance

Shares of WWW stock opened at $16.67 on Friday. The business’s fifty day simple moving average is $14.08 and its 200-day simple moving average is $17.97. The company has a market cap of $1.35 billion, a PE ratio of 30.31 and a beta of 1.62. The company has a current ratio of 1.29, a quick ratio of 0.77 and a debt-to-equity ratio of 1.79. Wolverine World Wide has a 12-month low of $9.58 and a 12-month high of $24.64.

Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings results on Thursday, May 8th. The textile maker reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.07. The business had revenue of $412.30 million for the quarter, compared to the consensus estimate of $395.94 million. Wolverine World Wide had a return on equity of 26.81% and a net margin of 2.73%. The business’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.11 earnings per share. Analysts expect that Wolverine World Wide will post 1.23 earnings per share for the current fiscal year.

Wolverine World Wide Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Tuesday, July 1st will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend is Tuesday, July 1st. Wolverine World Wide’s payout ratio is currently 45.98%.

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.