Analysts Set Wolverine World Wide, Inc. (NYSE:WWW) PT at $21.50

Shares of Wolverine World Wide, Inc. (NYSE:WWW) have received a consensus rating of “Moderate Buy” from the ten analysts that are currently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $21.50.

Several research analysts have recently commented on WWW shares. Robert W. Baird cut their price objective on Wolverine World Wide from $21.00 to $18.00 and set a “neutral” rating for the company in a report on Thursday, February 20th. UBS Group cut their price objective on Wolverine World Wide from $29.00 to $26.00 and set a “buy” rating for the company in a report on Thursday, February 20th. Telsey Advisory Group reissued a “market perform” rating and set a $23.00 price objective on shares of Wolverine World Wide in a report on Wednesday, February 19th. Stifel Nicolaus raised Wolverine World Wide from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $21.00 to $29.00 in a report on Wednesday, December 11th. Finally, StockNews.com lowered Wolverine World Wide from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th.

Institutional Trading of Wolverine World Wide

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC lifted its position in Wolverine World Wide by 2.2% in the fourth quarter. FMR LLC now owns 11,766,527 shares of the textile maker’s stock valued at $261,217,000 after purchasing an additional 249,456 shares during the last quarter. Earnest Partners LLC lifted its position in Wolverine World Wide by 0.4% in the fourth quarter. Earnest Partners LLC now owns 5,228,918 shares of the textile maker’s stock valued at $116,082,000 after purchasing an additional 19,295 shares during the last quarter. State Street Corp lifted its position in Wolverine World Wide by 0.5% in the third quarter. State Street Corp now owns 3,065,736 shares of the textile maker’s stock valued at $53,405,000 after purchasing an additional 16,228 shares during the last quarter. Pacer Advisors Inc. bought a new stake in Wolverine World Wide in the fourth quarter valued at approximately $64,943,000. Finally, JPMorgan Chase & Co. lifted its position in Wolverine World Wide by 70.0% in the fourth quarter. JPMorgan Chase & Co. now owns 2,425,858 shares of the textile maker’s stock valued at $53,854,000 after purchasing an additional 998,916 shares during the last quarter. Institutional investors own 90.25% of the company’s stock.

Wolverine World Wide Stock Up 4.4 %

WWW stock opened at $14.01 on Monday. The company has a quick ratio of 0.77, a current ratio of 1.29 and a debt-to-equity ratio of 1.79. The firm has a market capitalization of $1.13 billion, a PE ratio of 25.48 and a beta of 1.93. Wolverine World Wide has a twelve month low of $9.07 and a twelve month high of $24.64. The stock has a 50-day simple moving average of $18.67 and a two-hundred day simple moving average of $18.97.

Wolverine World Wide (NYSE:WWW) last posted its earnings results on Wednesday, February 19th. The textile maker reported $0.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.42. The business had revenue of $494.70 million during the quarter, compared to analyst estimates of $485.74 million. Wolverine World Wide had a return on equity of 26.81% and a net margin of 2.73%. The company’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.30) EPS. On average, equities analysts predict that Wolverine World Wide will post 1.23 EPS for the current fiscal year.

Wolverine World Wide Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 1st will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.85%. The ex-dividend date of this dividend is Tuesday, April 1st. Wolverine World Wide’s dividend payout ratio is currently 72.73%.

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.