Wolverine World Wide (NYSE:WWW) had its target price boosted by B. Riley Securities from $29.00 to $32.00 in a report published on Wednesday morning, Briefing.com reports. They currently have a buy rating on the textile maker’s stock.
Several other brokerages also recently commented on WWW. Zacks Investment Research upgraded Wolverine World Wide from a hold rating to a buy rating and set a $24.00 target price for the company in a research note on Saturday, June 20th. Piper Sandler boosted their price target on Wolverine World Wide from $22.00 to $27.00 and gave the company a neutral rating in a research note on Wednesday, September 30th. Finally, Pivotal Research restated a buy rating and issued a $31.00 price target on shares of Wolverine World Wide in a research note on Wednesday, August 5th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $28.73.
NYSE:WWW opened at $28.15 on Wednesday. The firm has a market capitalization of $2.30 billion, a price-to-earnings ratio of 40.21, a price-to-earnings-growth ratio of 2.33 and a beta of 1.69. Wolverine World Wide has a twelve month low of $12.19 and a twelve month high of $34.70. The stock’s 50 day moving average price is $26.37 and its two-hundred day moving average price is $22.52. The company has a quick ratio of 1.08, a current ratio of 1.65 and a debt-to-equity ratio of 0.97.
Wolverine World Wide (NYSE:WWW) last posted its quarterly earnings results on Wednesday, August 5th. The textile maker reported $0.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.12) by $0.20. The firm had revenue of $349.10 million for the quarter, compared to analyst estimates of $317.61 million. Wolverine World Wide had a return on equity of 17.74% and a net margin of 3.00%. The business’s quarterly revenue was down 38.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.52 EPS. As a group, analysts anticipate that Wolverine World Wide will post 1.11 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Thursday, October 1st will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.42%. Wolverine World Wide’s payout ratio is 17.78%.
In other news, VP Kyle Hanson sold 1,900 shares of the company’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $25.11, for a total transaction of $47,709.00. Following the completion of the sale, the vice president now directly owns 14,203 shares in the company, valued at approximately $356,637.33. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Michael D. Stornant sold 11,470 shares of the company’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $24.67, for a total value of $282,964.90. Following the sale, the chief financial officer now owns 47,255 shares of the company’s stock, valued at $1,165,780.85. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,756 shares of company stock valued at $464,947. Corporate insiders own 4.88% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Mutual of America Capital Management LLC boosted its position in shares of Wolverine World Wide by 12.7% during the 2nd quarter. Mutual of America Capital Management LLC now owns 3,944 shares of the textile maker’s stock valued at $94,000 after purchasing an additional 444 shares in the last quarter. Natixis Advisors L.P. boosted its position in shares of Wolverine World Wide by 2.5% during the 2nd quarter. Natixis Advisors L.P. now owns 20,077 shares of the textile maker’s stock valued at $478,000 after purchasing an additional 482 shares in the last quarter. Diversified Trust Co boosted its position in shares of Wolverine World Wide by 3.2% during the 3rd quarter. Diversified Trust Co now owns 18,695 shares of the textile maker’s stock valued at $483,000 after purchasing an additional 583 shares in the last quarter. Versant Capital Management Inc boosted its position in shares of Wolverine World Wide by 70.6% during the 2nd quarter. Versant Capital Management Inc now owns 1,834 shares of the textile maker’s stock valued at $43,000 after purchasing an additional 759 shares in the last quarter. Finally, Fifth Third Bancorp boosted its position in shares of Wolverine World Wide by 30.3% during the 2nd quarter. Fifth Third Bancorp now owns 3,623 shares of the textile maker’s stock valued at $86,000 after purchasing an additional 842 shares in the last quarter. 91.49% of the stock is owned by institutional investors.
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. The company operates through two segments, Wolverine Michigan Group and Wolverine Boston Group.
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