Wolverine World Wide, Inc. (NYSE:WWW) Receives $20.25 Average Target Price from Analysts

Shares of Wolverine World Wide, Inc. (NYSE:WWW) have been assigned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are presently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $20.25.

Several equities analysts recently issued reports on WWW shares. Robert W. Baird dropped their target price on shares of Wolverine World Wide from $21.00 to $18.00 and set a “neutral” rating on the stock in a report on Thursday, February 20th. Telsey Advisory Group reissued a “market perform” rating and issued a $23.00 price objective on shares of Wolverine World Wide in a research note on Wednesday, February 19th. Stifel Nicolaus decreased their target price on Wolverine World Wide from $27.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday. Piper Sandler dropped their price target on Wolverine World Wide from $27.00 to $18.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, StockNews.com cut Wolverine World Wide from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Pacer Advisors Inc. acquired a new stake in shares of Wolverine World Wide in the 4th quarter worth about $64,943,000. JPMorgan Chase & Co. increased its holdings in 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 purchasing an additional 1,322,254 shares in the last quarter. Capital Research Global Investors purchased a new stake in shares of Wolverine World Wide in the fourth quarter worth approximately $13,943,000. Nuveen Asset Management LLC lifted its holdings in shares of Wolverine World Wide by 179.1% in the fourth quarter. Nuveen Asset Management LLC now owns 628,338 shares of the textile maker’s stock valued at $13,949,000 after purchasing an additional 403,176 shares in the last quarter. Finally, First Trust Advisors LP purchased a new position in shares of Wolverine World Wide during the fourth quarter valued at approximately $7,862,000. 90.25% of the stock is owned by institutional investors.

Wolverine World Wide Stock Down 0.6 %

Shares of NYSE:WWW opened at $11.08 on Friday. The firm has a market cap of $897.46 million, a P/E ratio of 20.14 and a beta of 1.74. Wolverine World Wide has a 12-month low of $9.15 and a 12-month high of $24.64. The business has a fifty day simple moving average of $14.84 and a 200 day simple moving average of $18.72. The company has a quick ratio of 0.77, a current ratio of 1.29 and a debt-to-equity ratio of 1.79.

Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings results 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 company had revenue of $494.70 million during the quarter, compared to analysts’ expectations of $485.74 million. During the same quarter in the prior year, the firm posted ($0.30) earnings per share. The business’s quarterly revenue was down 6.1% on a year-over-year basis. Analysts predict that Wolverine World Wide will post 1.23 earnings per share for the current year.

Wolverine World Wide Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 1st will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 3.61%. The ex-dividend date of this dividend is Tuesday, April 1st. Wolverine World Wide’s payout ratio is currently 72.73%.

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.