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

Shares of Wolverine World Wide, Inc. (NYSE:WWW) have earned an average recommendation of “Moderate Buy” from the nine analysts that are presently covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $17.86.

Several research firms have recently issued reports on WWW. UBS Group upgraded Wolverine World Wide from a “neutral” rating to a “buy” rating and raised their price target for the stock from $13.00 to $20.00 in a research report on Friday, July 19th. Piper Sandler reaffirmed an “overweight” rating and issued a $18.00 target price on shares of Wolverine World Wide in a research report on Friday, August 23rd. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $14.00 target price on shares of Wolverine World Wide in a report on Wednesday, August 7th. Argus upgraded Wolverine World Wide to a “hold” rating in a research note on Friday, August 16th. Finally, Robert W. Baird raised their target price on Wolverine World Wide from $13.00 to $15.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th.

Insiders Place Their Bets

In other Wolverine World Wide news, insider David A. Latchana sold 7,706 shares of Wolverine World Wide stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $17.02, for a total value of $131,156.12. Following the sale, the insider now directly owns 13,889 shares in the company, valued at approximately $236,390.78. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.28% of the company’s stock.

Institutional Investors Weigh In On Wolverine World Wide

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Future Financial Wealth Managment LLC bought a new stake in shares of Wolverine World Wide in the 3rd quarter valued at about $35,000. Cedar Mountain Advisors LLC purchased a new stake in Wolverine World Wide during the 3rd quarter worth approximately $70,000. GAMMA Investing LLC boosted its holdings in shares of Wolverine World Wide by 15.9% in the 3rd quarter. GAMMA Investing LLC now owns 4,494 shares of the textile maker’s stock valued at $78,000 after acquiring an additional 616 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Wolverine World Wide in the 2nd quarter valued at $68,000. Finally, Central Pacific Bank Trust Division purchased a new stake in Wolverine World Wide during the first quarter worth $81,000. Institutional investors own 90.25% of the company’s stock.

Wolverine World Wide Trading Up 4.3 %

Shares of NYSE WWW opened at $16.96 on Friday. The business has a fifty day simple moving average of $14.83 and a 200-day simple moving average of $13.31. The company has a market cap of $1.36 billion, a price-to-earnings ratio of -18.23 and a beta of 1.77. The company has a quick ratio of 0.74, a current ratio of 1.19 and a debt-to-equity ratio of 2.14. Wolverine World Wide has a 12 month low of $7.52 and a 12 month high of $18.51.

Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings results 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 company had revenue of $425.40 million for the quarter, compared to the consensus estimate 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 firm’s revenue was down 27.8% compared to the same quarter last year. During the same period last year, the business posted $0.19 earnings per share. Sell-side analysts predict that Wolverine World Wide will post 0.85 EPS for the current year.

Wolverine World Wide Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 1st will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.36%. The ex-dividend date is Tuesday, October 1st. Wolverine World Wide’s dividend payout ratio is currently -43.01%.

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.