Wolverine World Wide, Inc. (NYSE:WWW) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

Other research analysts also recently issued reports about the company. TheStreet upgraded Wolverine World Wide from a “c+” rating to a “b” rating in a research note on Wednesday, May 10th. Zacks Investment Research upgraded Wolverine World Wide from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a research note on Saturday, May 13th. Piper Jaffray Companies restated a “hold” rating and set a $24.00 target price on shares of Wolverine World Wide in a research note on Thursday, May 11th. Telsey Advisory Group boosted their target price on Wolverine World Wide from $25.00 to $26.00 and gave the stock a “market perform” rating in a research note on Thursday, February 23rd. Finally, B. Riley restated a “neutral” rating and set a $26.00 target price on shares of Wolverine World Wide in a research note on Monday, May 8th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. Wolverine World Wide has an average rating of “Hold” and a consensus target price of $23.57.

Analyst Recommendations for Wolverine World Wide (NYSE:WWW)

Shares of Wolverine World Wide (NYSE WWW) traded down 1.13% on Wednesday, hitting $25.36. The stock had a trading volume of 434,466 shares. The company’s 50 day moving average price is $25.56 and its 200-day moving average price is $24.28. Wolverine World Wide has a 12 month low of $18.51 and a 12 month high of $27.38. The company has a market cap of $2.46 billion, a P/E ratio of 28.79 and a beta of 0.88.

Wolverine World Wide (NYSE:WWW) last announced its earnings results on Wednesday, May 10th. The textile maker reported $0.37 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.06. Wolverine World Wide had a return on equity of 14.14% and a net margin of 3.47%. The firm had revenue of $591.30 million for the quarter, compared to the consensus estimate of $557.53 million. During the same period in the previous year, the business earned $0.29 EPS. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, analysts expect that Wolverine World Wide will post $1.55 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 1st. Shareholders of record on Monday, July 3rd will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, June 29th. This represents a $0.24 annualized dividend and a yield of 0.94%. Wolverine World Wide’s payout ratio is presently 27.27%.

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Hedge funds have recently bought and sold shares of the stock. Glen Harbor Capital Management LLC increased its stake in Wolverine World Wide by 16.7% in the first quarter. Glen Harbor Capital Management LLC now owns 4,158 shares of the textile maker’s stock valued at $104,000 after buying an additional 594 shares during the last quarter. Bank of Montreal Can increased its stake in Wolverine World Wide by 15.1% in the first quarter. Bank of Montreal Can now owns 4,840 shares of the textile maker’s stock valued at $121,000 after buying an additional 635 shares during the last quarter. Elkfork Partners LLC increased its stake in Wolverine World Wide by 16.7% in the first quarter. Elkfork Partners LLC now owns 5,292 shares of the textile maker’s stock valued at $132,000 after buying an additional 756 shares during the last quarter. Meadow Creek Investment Management LLC increased its stake in Wolverine World Wide by 16.7% in the first quarter. Meadow Creek Investment Management LLC now owns 6,426 shares of the textile maker’s stock valued at $160,000 after buying an additional 918 shares during the last quarter. Finally, Mason Street Advisors LLC increased its stake in Wolverine World Wide by 4.9% in the first quarter. Mason Street Advisors LLC now owns 22,618 shares of the textile maker’s stock valued at $565,000 after buying an additional 1,059 shares during the last quarter. Institutional investors and hedge funds own 93.18% 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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