Analysts Set Wolverine World Wide, Inc. (NYSE:WWW) Price Target at $21.50

Shares of Wolverine World Wide, Inc. (NYSE:WWW) have earned a consensus rating of “Moderate Buy” from the ten ratings firms that are currently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $21.50.

WWW has been the topic of several recent analyst reports. StockNews.com cut Wolverine World Wide from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th. Stifel Nicolaus upgraded Wolverine World Wide from a “hold” rating to a “buy” rating and raised their price objective for the company from $21.00 to $29.00 in a research note on Wednesday, December 11th. Robert W. Baird lowered their target price on Wolverine World Wide from $21.00 to $18.00 and set a “neutral” rating on the stock in a research note on Thursday, February 20th. Telsey Advisory Group reiterated a “market perform” rating and set a $23.00 target price on shares of Wolverine World Wide in a research note on Wednesday, February 19th. Finally, UBS Group lowered their target price on Wolverine World Wide from $29.00 to $26.00 and set a “buy” rating on the stock in a research note on Thursday, February 20th.

Wolverine World Wide Price Performance

Shares of NYSE:WWW opened at $14.01 on Monday. The company has a current ratio of 1.29, a quick ratio of 0.77 and a debt-to-equity ratio of 1.79. The stock’s fifty day simple moving average is $18.67 and its two-hundred day simple moving average is $18.97. Wolverine World Wide has a 1-year low of $9.07 and a 1-year high of $24.64. The stock has a market cap of $1.13 billion, a PE ratio of 25.48 and a beta of 1.93.

Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings data on Wednesday, February 19th. The textile maker reported $0.42 earnings per share for the quarter, meeting the consensus estimate of $0.42. Wolverine World Wide had a return on equity of 26.81% and a net margin of 2.73%. The business had revenue of $494.70 million for the quarter, compared to analysts’ expectations of $485.74 million. During the same period last year, the business earned ($0.30) EPS. The business’s revenue was down 6.1% on a year-over-year basis. As a group, analysts forecast that Wolverine World Wide will post 1.23 EPS for the current fiscal year.

Wolverine World Wide Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 1st will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date of this dividend is Tuesday, April 1st. Wolverine World Wide’s dividend payout ratio is currently 72.73%.

Institutional Investors Weigh In On Wolverine World Wide

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WWW. SBI Securities Co. Ltd. bought a new stake in Wolverine World Wide in the 4th quarter valued at about $25,000. Signaturefd LLC raised its stake in Wolverine World Wide by 88.8% in the 4th quarter. Signaturefd LLC now owns 1,450 shares of the textile maker’s stock valued at $32,000 after acquiring an additional 682 shares during the period. Natixis bought a new stake in Wolverine World Wide in the 4th quarter valued at about $41,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Wolverine World Wide in the 4th quarter valued at about $64,000. Finally, KBC Group NV grew its holdings in Wolverine World Wide by 43.8% during the 4th quarter. KBC Group NV now owns 4,303 shares of the textile maker’s stock valued at $96,000 after buying an additional 1,311 shares in the last quarter. 90.25% of the stock is currently owned by institutional investors.

Wolverine World Wide Company Profile

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.