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

Wolverine World Wide, Inc. (NYSE:WWW) has been given a consensus recommendation of “Buy” by the nine brokerages that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $25.3750.

Several research firms have issued reports on WWW. Argus raised 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 research note on Friday, May 16th. Piper Sandler reaffirmed an “overweight” rating and issued a $25.00 target price (up from $20.00) on shares of Wolverine World Wide in a research note on Tuesday, August 5th. Telsey Advisory Group reiterated a “market perform” rating and issued a $29.00 price target (up from $17.00) on shares of Wolverine World Wide in a report on Wednesday, August 6th. Robert W. Baird increased their price target on Wolverine World Wide from $15.00 to $20.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 6th. Finally, KeyCorp restated an “overweight” rating and set a $32.00 price objective (up previously from $25.00) on shares of Wolverine World Wide in a report on Thursday, August 7th.

Wolverine World Wide Stock Performance

NYSE WWW opened at $28.6060 on Thursday. The company has a quick ratio of 0.75, a current ratio of 1.24 and a debt-to-equity ratio of 1.58. Wolverine World Wide has a fifty-two week low of $9.58 and a fifty-two week high of $28.97. The business has a fifty day moving average of $21.74 and a 200-day moving average of $17.40. The stock has a market cap of $2.32 billion, a price-to-earnings ratio of 28.05 and a beta of 1.74.

Wolverine World Wide (NYSE:WWW) last posted its quarterly earnings data on Wednesday, August 6th. The textile maker reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.12. The business had revenue of $474.20 million for the quarter, compared to analyst estimates of $447.82 million. Wolverine World Wide had a return on equity of 31.99% and a net margin of 4.73%.The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.15 earnings per share. As a group, analysts predict that Wolverine World Wide will post 1.23 earnings per share for the current fiscal year.

Wolverine World Wide Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Wednesday, October 1st will be issued a $0.10 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $0.40 annualized dividend and a yield of 1.4%. Wolverine World Wide’s payout ratio is 39.22%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Wolverine World Wide by 0.5% in the first quarter. Vanguard Group Inc. now owns 9,005,788 shares of the textile maker’s stock valued at $125,271,000 after purchasing an additional 45,779 shares during the period. Earnest Partners LLC boosted its holdings in shares of Wolverine World Wide by 0.8% in the 1st quarter. Earnest Partners LLC now owns 5,270,775 shares of the textile maker’s stock valued at $73,316,000 after purchasing an additional 41,857 shares during the last quarter. Callodine Capital Management LP grew its stake in shares of Wolverine World Wide by 41.0% during the 2nd quarter. Callodine Capital Management LP now owns 4,297,586 shares of the textile maker’s stock valued at $77,700,000 after buying an additional 1,250,515 shares during the period. Geode Capital Management LLC increased its holdings in shares of Wolverine World Wide by 1.8% during the 2nd quarter. Geode Capital Management LLC now owns 1,869,339 shares of the textile maker’s stock worth $33,802,000 after buying an additional 32,493 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of Wolverine World Wide by 8.6% during the 2nd quarter. Bank of America Corp DE now owns 1,772,076 shares of the textile maker’s stock worth $32,039,000 after buying an additional 139,913 shares during the last quarter. 90.25% of the stock is currently owned by hedge funds and other 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. 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.