Wolverine World Wide, Inc. (WWW) Upgraded to Outperform by Robert W. Baird
Wolverine World Wide, Inc. (NYSE:WWW) was upgraded by equities researchers at Robert W. Baird from a “neutral” rating to an “outperform” rating in a research note issued on Wednesday. The brokerage currently has a $30.00 price objective on the textile maker’s stock, up from their prior price objective of $29.00. Robert W. Baird’s price objective would indicate a potential upside of 21.75% from the company’s current price.
Other equities research analysts also recently issued reports about the company. B. Riley reaffirmed a “neutral” rating and set a $26.00 price target on shares of Wolverine World Wide in a research report on Monday, February 20th. Pacific Crest downgraded Wolverine World Wide to a “hold” rating in a research report on Saturday, February 4th. Zacks Investment Research downgraded Wolverine World Wide from a “buy” rating to a “hold” rating in a research report on Tuesday. Piper Jaffray Companies reaffirmed a “hold” rating and set a $24.00 price target on shares of Wolverine World Wide in a research report on Thursday, May 11th. Finally, TheStreet raised Wolverine World Wide from a “c+” rating to a “b” rating in a research report on Wednesday, May 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. Wolverine World Wide has an average rating of “Hold” and an average price target of $23.57.
Shares of Wolverine World Wide (NYSE:WWW) opened at 24.64 on Wednesday. The firm’s 50-day moving average price is $24.44 and its 200 day moving average price is $23.75. The company has a market cap of $2.37 billion, a price-to-earnings ratio of 27.97 and a beta of 0.65. Wolverine World Wide has a 12-month low of $16.64 and a 12-month high of $26.85.
Wolverine World Wide (NYSE:WWW) last announced its quarterly earnings results on Wednesday, May 10th. The textile maker reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.06. The company had revenue of $591.30 million for the quarter, compared to the consensus estimate of $557.53 million. Wolverine World Wide had a return on equity of 13.38% and a net margin of 4.02%. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period last year, the firm earned $0.29 EPS. On average, analysts predict that Wolverine World Wide will post $1.55 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 1st. Stockholders of record on Monday, July 3rd will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date of this dividend is Thursday, June 29th. Wolverine World Wide’s dividend payout ratio (DPR) is presently 23.30%.
Several large investors have recently bought and sold shares of WWW. Ronna Sue Cohen acquired a new stake in Wolverine World Wide during the first quarter worth approximately $208,000. Macquarie Group Ltd. boosted its stake in Wolverine World Wide by 4.9% in the first quarter. Macquarie Group Ltd. now owns 1,634,365 shares of the textile maker’s stock worth $40,810,000 after buying an additional 75,772 shares during the period. Jane Street Group LLC acquired a new stake in Wolverine World Wide during the first quarter worth approximately $200,000. Paloma Partners Management Co boosted its stake in Wolverine World Wide by 7.8% in the first quarter. Paloma Partners Management Co now owns 48,720 shares of the textile maker’s stock worth $1,216,000 after buying an additional 3,545 shares during the period. Finally, Gotham Asset Management LLC boosted its stake in Wolverine World Wide by 7.6% in the first quarter. Gotham Asset Management LLC now owns 267,104 shares of the textile maker’s stock worth $6,670,000 after buying an additional 18,801 shares during the period. Hedge funds and other institutional investors own 91.68% of the company’s stock.
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. It operates in four segments: Wolverine Outdoor & Lifestyle Group, which offers Merrell footwear and apparel, Cat footwear, Hush Puppies footwear and apparel, Chaco footwear, and Sebago footwear and apparel; Wolverine Boston Group, which offers Sperry footwear and apparel, Saucony footwear and apparel, and Keds footwear and apparel; Wolverine Heritage Group, which offers Wolverine footwear and apparel, Bates uniform footwear, Harley-Davidson footwear and HyTest safety footwear, and Wolverine Multi-Brand Group, which offers Stride Rite footwear and apparel, and its multi-brand consumer-direct businesses.
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