Wolverine World Wide, Inc. (NYSE:WWW) Receives Consensus Recommendation of “Hold” from Analysts
Wolverine World Wide, Inc. (NYSE:WWW) has received a consensus recommendation of “Hold” from the eleven research firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, six have given a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $22.83.
Several brokerages recently weighed in on WWW. B. Riley reaffirmed a “neutral” rating and set a $26.00 target price on shares of Wolverine World Wide in a research note on Monday, May 8th. BidaskClub lowered Wolverine World Wide from a “buy” rating to a “hold” rating in a research report on Thursday. Piper Jaffray Companies reiterated a “hold” rating and issued a $24.00 price target on shares of Wolverine World Wide in a research report on Thursday, May 11th. TheStreet upgraded Wolverine World Wide from a “c+” rating to a “b” rating in a research report on Wednesday, May 10th. Finally, Zacks Investment Research lowered Wolverine World Wide from a “buy” rating to a “hold” rating in a research report on Tuesday, May 16th.
Wolverine World Wide (NYSE WWW) traded up 0.18% on Monday, hitting $27.37. The stock had a trading volume of 113,726 shares. Wolverine World Wide has a one year low of $20.58 and a one year high of $28.23. The company has a market cap of $2.65 billion, a PE ratio of 31.07 and a beta of 0.94. The stock has a 50-day moving average of $26.00 and a 200-day moving average of $24.40.
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, beating 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 business had revenue of $591.30 million during the quarter, compared to analysts’ expectations of $557.53 million. During the same quarter last year, the business posted $0.29 earnings per share. The company’s quarterly revenue was up 2.4% on a year-over-year basis. Equities analysts expect that Wolverine World Wide will post $1.55 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 1st. Stockholders of record on Monday, July 3rd will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date is Thursday, June 29th. Wolverine World Wide’s dividend payout ratio is 27.27%.
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A number of hedge funds have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue raised its stake in Wolverine World Wide by 78.5% in the second quarter. State of Alaska Department of Revenue now owns 19,132 shares of the textile maker’s stock worth $535,000 after buying an additional 8,412 shares during the period. Bank of Montreal Can raised its stake in shares of Wolverine World Wide by 1.3% in the second quarter. Bank of Montreal Can now owns 4,904 shares of the textile maker’s stock valued at $138,000 after buying an additional 64 shares during the last quarter. Capital One National Association raised its stake in shares of Wolverine World Wide by 49.7% in the second quarter. Capital One National Association now owns 23,043 shares of the textile maker’s stock valued at $645,000 after buying an additional 7,650 shares during the last quarter. Fox Run Management L.L.C. purchased a new stake in shares of Wolverine World Wide during the second quarter valued at $501,000. Finally, Teachers Retirement System of The State of Kentucky raised its stake in shares of Wolverine World Wide by 158.9% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 91,666 shares of the textile maker’s stock valued at $2,289,000 after buying an additional 56,266 shares during the last quarter. 92.79% of the stock is currently 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. 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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