Stifel Nicolaus Cuts Wolverine World Wide (NYSE:WWW) Price Target to $19.00

Wolverine World Wide (NYSE:WWW) had its price objective decreased by Stifel Nicolaus from $27.00 to $19.00 in a research note published on Thursday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the textile maker’s stock.

Several other research analysts have also recently weighed in on the company. UBS Group cut their price objective on Wolverine World Wide from $29.00 to $26.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. StockNews.com downgraded shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th. Robert W. Baird decreased their price objective on shares of Wolverine World Wide from $21.00 to $18.00 and set a “neutral” rating for the company in a report on Thursday, February 20th. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $23.00 target price on shares of Wolverine World Wide in a research note on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Wolverine World Wide presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.25.

Wolverine World Wide Stock Performance

NYSE WWW opened at $11.08 on Thursday. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.29 and a quick ratio of 0.77. The company has a fifty day moving average price of $14.84 and a 200-day moving average price of $18.71. Wolverine World Wide has a 1 year low of $9.07 and a 1 year high of $24.64. The firm has a market cap of $897.46 million, a price-to-earnings ratio of 20.14 and a beta of 1.74.

Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings data on Wednesday, February 19th. The textile maker reported $0.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.42. Wolverine World Wide had a net margin of 2.73% and a return on equity of 26.81%. The business had revenue of $494.70 million during the quarter, compared to the consensus estimate of $485.74 million. During the same period in the prior year, the firm posted ($0.30) EPS. The firm’s quarterly revenue was down 6.1% compared to the same quarter last year. As a group, equities research 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 disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 1st will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 3.61%. The ex-dividend date is Tuesday, April 1st. Wolverine World Wide’s dividend payout ratio (DPR) is presently 72.73%.

Institutional Investors Weigh In On Wolverine World Wide

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. SBI Securities Co. Ltd. bought a new stake in shares of Wolverine World Wide during the 4th quarter valued at $25,000. Signaturefd LLC grew its holdings in Wolverine World Wide by 88.8% during the 4th quarter. Signaturefd LLC now owns 1,450 shares of the textile maker’s stock valued at $32,000 after buying an additional 682 shares in the last quarter. Natixis purchased a new position in Wolverine World Wide during the 4th quarter valued at about $41,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Wolverine World Wide during the fourth quarter valued at about $64,000. Finally, KBC Group NV lifted its holdings in shares of Wolverine World Wide by 43.8% in the fourth quarter. KBC Group NV now owns 4,303 shares of the textile maker’s stock worth $96,000 after buying an additional 1,311 shares in the last quarter. Institutional investors own 90.25% of the company’s stock.

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.