Wolverine World Wide, Inc. (NYSE:WWW) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Wolverine World Wide, Inc. (NYSE:WWW) has received a consensus rating of “Moderate Buy” from the nine ratings firms that are presently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $17.86.

WWW has been the subject of a number of analyst reports. UBS Group raised Wolverine World Wide from a “neutral” rating to a “buy” rating and upped their price target for the stock from $13.00 to $20.00 in a report on Friday, July 19th. KeyCorp raised Wolverine World Wide from a “sector weight” rating to an “overweight” rating and set a $20.00 price target for the company in a report on Thursday, August 8th. Robert W. Baird upped their price target on Wolverine World Wide from $13.00 to $15.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Argus raised Wolverine World Wide to a “hold” rating in a report on Friday, August 16th. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $14.00 target price on shares of Wolverine World Wide in a report on Wednesday, August 7th.

Insider Buying and Selling

In related news, insider David A. Latchana sold 7,706 shares of the stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $17.02, for a total value of $131,156.12. Following the completion of the transaction, the insider now directly owns 13,889 shares in the company, valued at approximately $236,390.78. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 2.28% of the stock is currently owned by company insiders.

Institutional Trading of Wolverine World Wide

Hedge funds have recently modified their holdings of the stock. Future Financial Wealth Managment LLC acquired a new stake in shares of Wolverine World Wide in the third quarter valued at $35,000. GAMMA Investing LLC raised its stake in shares of Wolverine World Wide by 42.5% in the first quarter. GAMMA Investing LLC now owns 4,504 shares of the textile maker’s stock valued at $50,000 after acquiring an additional 1,343 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Wolverine World Wide in the second quarter valued at $68,000. Cedar Mountain Advisors LLC acquired a new stake in Wolverine World Wide in the third quarter valued at $70,000. Finally, Central Pacific Bank Trust Division acquired a new stake in Wolverine World Wide in the first quarter valued at $81,000. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Wolverine World Wide Stock Down 1.1 %

Wolverine World Wide stock opened at $15.61 on Friday. The company has a debt-to-equity ratio of 2.14, a quick ratio of 0.74 and a current ratio of 1.19. The business’s 50-day simple moving average is $15.19 and its two-hundred day simple moving average is $13.52. The company has a market cap of $1.25 billion, a PE ratio of -14.73 and a beta of 1.77. Wolverine World Wide has a fifty-two week low of $7.52 and a fifty-two week high of $18.51.

Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings data on Wednesday, August 7th. The textile maker reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.05. The business had revenue of $425.40 million during the quarter, compared to analysts’ expectations of $411.20 million. Wolverine World Wide had a negative return on equity of 0.34% and a negative net margin of 4.42%. The company’s revenue for the quarter was down 27.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.19 EPS. Equities analysts anticipate that Wolverine World Wide will post 0.85 EPS for the current year.

Wolverine World Wide Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 1st will be given a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $0.40 annualized dividend and a yield of 2.56%. Wolverine World Wide’s payout ratio is -37.74%.

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.