Wolverine World Wide Inc. (NYSE:WWW) Given Consensus Recommendation of “Hold” by Brokerages
Wolverine World Wide Inc. (NYSE:WWW) has been assigned a consensus recommendation of “Hold” from the fifteen research firms that are presently covering the company. Two research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $21.64.
Several equities research analysts recently commented on the stock. B. Riley reiterated a “neutral” rating and issued a $24.00 price objective on shares of Wolverine World Wide in a research report on Saturday, July 30th. Zacks Investment Research upgraded shares of Wolverine World Wide from a “sell” rating to a “hold” rating and set a $27.00 price objective on the stock in a research report on Thursday, July 28th. Argus reiterated a “buy” rating on shares of Wolverine World Wide in a research report on Wednesday, August 3rd. Susquehanna assumed coverage on shares of Wolverine World Wide in a research report on Friday, August 12th. They issued a “negative” rating and a $20.00 price objective on the stock. Finally, TheStreet upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating in a research report on Tuesday, June 21st.
Shares of Wolverine World Wide (NYSE:WWW) remained flat at $22.82 during midday trading on Wednesday. 325,202 shares of the stock traded hands. Wolverine World Wide has a 52 week low of $14.74 and a 52 week high of $25.54. The stock has a 50 day moving average price of $23.62 and a 200-day moving average price of $20.52. The firm has a market capitalization of $2.27 billion, a price-to-earnings ratio of 23.12 and a beta of 0.79.
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Wolverine World Wide (NYSE:WWW) last released its quarterly earnings data on Tuesday, July 26th. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.23 by $0.02. Wolverine World Wide had a net margin of 3.81% and a return on equity of 13.60%. The business had revenue of $583.70 million for the quarter, compared to analyst estimates of $578.99 million. During the same period in the previous year, the firm earned $0.27 EPS. The business’s revenue for the quarter was down 7.4% compared to the same quarter last year. On average, equities analysts expect that Wolverine World Wide will post $1.37 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Monday, October 3rd will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend is Thursday, September 29th. Wolverine World Wide’s dividend payout ratio (DPR) is presently 24.49%.
A number of hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC increased its stake in Wolverine World Wide by 449.4% in the second quarter. Tower Research Capital LLC TRC now owns 5,373 shares of the company’s stock worth $109,000 after buying an additional 4,395 shares during the period. BlackRock Inc. increased its stake in Wolverine World Wide by 126.1% in the first quarter. BlackRock Inc. now owns 6,967 shares of the company’s stock worth $128,000 after buying an additional 3,885 shares during the period. Quantitative Systematic Strategies LLC acquired a new stake in Wolverine World Wide during the second quarter worth about $209,000. Denver Investment Advisors LLC acquired a new stake in Wolverine World Wide during the second quarter worth about $217,000. Finally, Amalgamated Bank increased its stake in Wolverine World Wide by 5.9% in the second quarter. Amalgamated Bank now owns 11,509 shares of the company’s stock worth $276,000 after buying an additional 639 shares during the period. 89.69% of the stock is owned by hedge funds and other institutional investors.
Wolverine World Wide Company Profile
Wolverine World Wide, Inc is a designer, manufacturer and marketer of a range of casual footwear and apparel, outdoor and athletic footwear and apparel, children’s footwear, industrial work boots and apparel, and uniform shoes and boots. The Company’s products are marketed around the world in approximately 200 countries and territories through Company-owned wholesale and consumer-direct operations, and third-party licensees and distributors.
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