Wolverine World Wide, Inc. (NYSE:WWW) Receives $19.75 Consensus Target Price from Brokerages

Shares of Wolverine World Wide, Inc. (NYSE:WWW) have earned a consensus recommendation of “Buy” from the nine ratings firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $19.75.

Several research analysts have recently issued reports on WWW shares. Robert W. Baird raised their target price on shares of Wolverine World Wide from $15.00 to $20.00 and gave the stock an “outperform” rating in a report on Tuesday, May 6th. Stifel Nicolaus cut their price target on shares of Wolverine World Wide from $27.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Wall Street Zen cut shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th. Argus upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a report on Friday, May 16th. Finally, Baird R W upgraded shares of Wolverine World Wide from a “hold” rating to a “strong-buy” rating in a report on Monday, April 21st.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. HighTower Advisors LLC lifted its position in Wolverine World Wide by 5.2% during the 4th quarter. HighTower Advisors LLC now owns 11,526 shares of the textile maker’s stock valued at $256,000 after acquiring an additional 574 shares during the period. Summit Investment Advisors Inc. lifted its position in Wolverine World Wide by 7.5% during the 4th quarter. Summit Investment Advisors Inc. now owns 8,305 shares of the textile maker’s stock valued at $184,000 after acquiring an additional 581 shares during the period. Signaturefd LLC lifted its position 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 acquiring an additional 682 shares during the period. PNC Financial Services Group Inc. lifted its position in Wolverine World Wide by 10.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,132 shares of the textile maker’s stock valued at $127,000 after acquiring an additional 863 shares during the period. Finally, Natixis Advisors LLC lifted its position in Wolverine World Wide by 3.8% during the 4th quarter. Natixis Advisors LLC now owns 28,608 shares of the textile maker’s stock valued at $635,000 after acquiring an additional 1,035 shares during the period. 90.25% of the stock is owned by hedge funds and other institutional investors.

Wolverine World Wide Stock Up 3.4%

Shares of Wolverine World Wide stock opened at $17.81 on Friday. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.77 and a current ratio of 1.29. Wolverine World Wide has a 52-week low of $9.58 and a 52-week high of $24.64. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of 32.37 and a beta of 1.71. The company’s 50 day moving average price is $14.22 and its 200-day moving average price is $17.91.

Wolverine World Wide (NYSE:WWW) last issued its earnings results on Thursday, May 8th. The textile maker reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.07. Wolverine World Wide had a net margin of 2.73% and a return on equity of 26.81%. The firm had revenue of $412.30 million for the quarter, compared to analysts’ expectations of $395.94 million. During the same quarter last year, the business earned $0.11 earnings per share. The business’s revenue was up 4.4% on a year-over-year basis. Equities research analysts forecast that Wolverine World Wide will post 1.23 EPS for the current year.

Wolverine World Wide Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Tuesday, July 1st will be given a dividend of $0.10 per share. The ex-dividend date is Tuesday, July 1st. This represents a $0.40 dividend on an annualized basis and a yield of 2.25%. Wolverine World Wide’s dividend payout ratio (DPR) is currently 45.98%.

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.