Robert W. Baird Forecasts Strong Price Appreciation for Wolverine World Wide (NYSE:WWW) Stock

Wolverine World Wide (NYSE:WWW) had its target price raised by Robert W. Baird from $15.00 to $20.00 in a research note released on Tuesday,Benzinga reports. The brokerage currently has an outperform rating on the textile maker’s stock.

Several other research analysts have also commented on WWW. UBS Group lifted their price target on Wolverine World Wide from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, April 22nd. StockNews.com cut shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th. Baird R W upgraded shares of Wolverine World Wide from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 21st. Stifel Nicolaus decreased their target price on shares of Wolverine World Wide from $27.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $17.00 price target on shares of Wolverine World Wide in a research report on Thursday, May 1st. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $18.75.

Wolverine World Wide Stock Up 10.4 %

Shares of NYSE:WWW opened at $16.34 on Tuesday. 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 firm has a 50 day simple moving average of $12.99 and a 200-day simple moving average of $18.14. The company has a market capitalization of $1.32 billion, a PE ratio of 29.70 and a beta of 1.62. Wolverine World Wide has a twelve month low of $9.58 and a twelve month high of $24.64.

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

Wolverine World Wide Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Tuesday, July 1st will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.45%. The ex-dividend date is Tuesday, July 1st. Wolverine World Wide’s payout ratio is 72.73%.

Institutional Trading of Wolverine World Wide

Hedge funds have recently modified their holdings of the business. Barclays PLC increased its holdings in shares of Wolverine World Wide by 767.1% in the 3rd quarter. Barclays PLC now owns 250,830 shares of the textile maker’s stock valued at $4,368,000 after purchasing an additional 221,904 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Wolverine World Wide during the 3rd quarter valued at approximately $113,000. JPMorgan Chase & Co. boosted its stake in shares of Wolverine World Wide by 1,263.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,426,942 shares of the textile maker’s stock worth $24,857,000 after acquiring an additional 1,322,254 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Wolverine World Wide by 12.5% in the 4th quarter. GAMMA Investing LLC now owns 5,057 shares of the textile maker’s stock worth $112,000 after acquiring an additional 563 shares during the period. Finally, Range Financial Group LLC purchased a new position in Wolverine World Wide in the 4th quarter valued at approximately $1,072,000. 90.25% of the stock is owned by institutional investors and hedge funds.

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.