Wolverine World Wide, Inc. (NYSE:WWW) Stock Has Consensus Price Target of $23.11 According to Analysts

Shares of Wolverine World Wide, Inc. (NYSE:WWW) have been given an average recommendation of “Hold” by the eleven brokerages that are covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $23.11.

Several research firms have issued reports on WWW. Zacks Research cut shares of Wolverine World Wide from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 30th. Weiss Ratings restated a “hold (c+)” rating on shares of Wolverine World Wide in a research report on Tuesday, September 8th. Seaport Research Partners restated a “buy” rating and set a $30.00 price target on shares of Wolverine World Wide in a research report on Friday, August 14th. Wall Street Zen raised shares of Wolverine World Wide from a “hold” rating to a “buy” rating in a report on Sunday, October 4th. Finally, Williams Trading set a $20.00 price objective on Wolverine World Wide in a research report on Wednesday, August 19th.

Hedge Funds Weigh In On Wolverine World Wide

A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in shares of Wolverine World Wide during the 2nd quarter valued at about $204,878,000. Wellington Management Group LLP increased its position in shares of Wolverine World Wide by 3.4% in the second quarter. Wellington Management Group LLP now owns 4,528,278 shares of the textile maker’s stock worth $74,852,000 after purchasing an additional 146,791 shares during the last quarter. Callodine Capital Management LP raised its stake in Wolverine World Wide by 27.8% in the first quarter. Callodine Capital Management LP now owns 4,505,165 shares of the textile maker’s stock valued at $73,524,000 after purchasing an additional 980,839 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Wolverine World Wide by 21.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,797,577 shares of the textile maker’s stock valued at $29,333,000 after purchasing an additional 313,883 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in Wolverine World Wide in the second quarter valued at approximately $13,557,000. 90.25% of the stock is currently owned by institutional investors.

Wolverine World Wide Trading Up 1.4%

Shares of WWW opened at $21.99 on Friday. The business’s 50-day moving average price is $19.93 and its 200-day moving average price is $18.22. Wolverine World Wide has a twelve month low of $14.00 and a twelve month high of $23.84. The stock has a market cap of $1.80 billion, a PE ratio of 14.86, a P/E/G ratio of 1.47 and a beta of 1.67. The company has a quick ratio of 0.98, a current ratio of 1.55 and a debt-to-equity ratio of 1.17.

Wolverine World Wide (NYSE:WWW) last released its quarterly earnings data on Thursday, August 13th. The textile maker reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. The company had revenue of $506.40 million during the quarter, compared to analyst estimates of $500.74 million. Wolverine World Wide had a net margin of 5.55% and a return on equity of 28.50%. Wolverine World Wide’s revenue was up 6.8% compared to the same quarter last year. During the same period last year, the business earned $0.32 earnings per share. On average, equities analysts forecast that Wolverine World Wide will post 1.64 EPS for the current fiscal year.

Wolverine World Wide Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 1st. Investors of record on Monday, January 4th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.8%. The ex-dividend date is Monday, January 4th. Wolverine World Wide’s payout ratio is presently 31.01%.

Wolverine World Wide Company Profile

Wolverine World Wide, Inc. is a footwear and apparel company that designs, markets and distributes products through a portfolio of consumer and workwear brands. Its brands include Merrell, Saucony, Sweaty Betty, Wolverine, Chaco and Bates, with offerings that span outdoor, athletic, casual and occupational footwear, as well as apparel and accessories. Founded in 1883 in Rockford, Michigan, the company has expanded from its early roots in leather and footwear manufacturing into an international brand business.