Wolverine World Wide, Inc. (NYSE:WWW) Receives $21.50 Average Price Target from Brokerages

Shares of Wolverine World Wide, Inc. (NYSE:WWW - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the ten brokerages that are covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $21.50.

Several brokerages recently weighed in on WWW. Stifel Nicolaus upgraded Wolverine World Wide from a "hold" rating to a "buy" rating and increased their target price for the company from $21.00 to $29.00 in a research note on Wednesday, December 11th. StockNews.com downgraded Wolverine World Wide from a "buy" rating to a "hold" rating in a research note on Tuesday, February 11th. Robert W. Baird decreased their target price on Wolverine World Wide from $21.00 to $18.00 and set a "neutral" rating for the company in a research note on Thursday, February 20th. UBS Group decreased their target price on Wolverine World Wide from $29.00 to $26.00 and set a "buy" rating for the company in a research note on Thursday, February 20th. Finally, Telsey Advisory Group restated a "market perform" rating and set a $23.00 target price on shares of Wolverine World Wide in a research note on Wednesday, February 19th.

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Hedge Funds Weigh In On Wolverine World Wide

A number of hedge funds have recently modified their holdings of the stock. Savant Capital LLC acquired a new stake in Wolverine World Wide during the 4th quarter valued at $205,000. Pacer Advisors Inc. bought a new position in Wolverine World Wide in the 4th quarter valued at $64,943,000. Landscape Capital Management L.L.C. bought a new position in Wolverine World Wide in the 3rd quarter valued at $3,034,000. JPMorgan Chase & Co. boosted its position in Wolverine World Wide by 1,263.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,426,942 shares of the textile maker's stock valued at $24,857,000 after buying an additional 1,322,254 shares during the last quarter. Finally, XTX Topco Ltd boosted its position in shares of Wolverine World Wide by 338.6% in the 3rd quarter. XTX Topco Ltd now owns 47,346 shares of the textile maker's stock worth $825,000 after purchasing an additional 36,551 shares during the last quarter. 90.25% of the stock is owned by institutional investors and hedge funds.

Wolverine World Wide Stock Down 1.3 %

Shares of WWW traded down $0.19 during trading hours on Monday, hitting $13.81. 557,014 shares of the company were exchanged, compared to its average volume of 1,177,697. The company has a market cap of $1.11 billion, a PE ratio of 25.05 and a beta of 1.93. The firm's 50 day moving average is $18.67 and its 200-day moving average is $18.97. Wolverine World Wide has a 52 week low of $9.07 and a 52 week high of $24.64. 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 (NYSE:WWW - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The textile maker reported $0.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.42. The company had revenue of $494.70 million during the quarter, compared to the consensus estimate of $485.74 million. Wolverine World Wide had a return on equity of 26.81% and a net margin of 2.73%. The firm's revenue was down 6.1% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.30) EPS. On average, equities research analysts forecast that Wolverine World Wide will post 1.23 EPS for the current fiscal year.

Wolverine World Wide Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 1st will be issued a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.90%. Wolverine World Wide's payout ratio is presently 72.73%.

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.