Wolverine World Wide (NYSE:WWW) Price Target Raised to $20.00

Wolverine World Wide (NYSE:WWW) had its price target boosted by Robert W. Baird from $15.00 to $20.00 in a research note published on Tuesday,Benzinga reports. The firm currently has an outperform rating on the textile maker’s stock.

WWW has been the subject of a number of other reports. Piper Sandler reduced their target price on shares of Wolverine World Wide from $27.00 to $18.00 and set an “overweight” rating for the company in a research report on Friday, April 11th. Stifel Nicolaus dropped their price target on Wolverine World Wide from $27.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. StockNews.com cut Wolverine World Wide from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th. Baird R W raised Wolverine World Wide from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 21st. Finally, UBS Group upped their price objective on shares of Wolverine World Wide from $17.00 to $18.00 and gave the company a “buy” rating in a report on Tuesday, April 22nd. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Wolverine World Wide presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.75.

Wolverine World Wide Stock Up 10.4 %

WWW stock opened at $16.34 on Tuesday. Wolverine World Wide has a 52 week low of $9.58 and a 52 week high of $24.64. The company has a quick ratio of 0.77, a current ratio of 1.29 and a debt-to-equity ratio of 1.79. The firm has a 50-day simple moving average of $12.99 and a 200-day simple moving average of $18.14. The stock has a market capitalization of $1.32 billion, a P/E ratio of 29.70 and a beta of 1.62.

Wolverine World Wide (NYSE:WWW) last released its earnings results on Thursday, May 8th. The textile maker reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.07. Wolverine World Wide had a return on equity of 26.81% and a net margin of 2.73%. The business had revenue of $412.30 million for the quarter, compared to the consensus estimate of $395.94 million. During the same quarter last year, the business posted $0.11 earnings per share. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. Equities analysts forecast that Wolverine World Wide will post 1.23 earnings per share for the current fiscal year.

Wolverine World Wide Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Tuesday, July 1st will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date is Tuesday, July 1st. Wolverine World Wide’s dividend payout ratio is presently 72.73%.

Hedge Funds Weigh In On Wolverine World Wide

A number of hedge funds have recently made changes to their positions in the stock. SBI Securities Co. Ltd. acquired a new position in Wolverine World Wide during the fourth quarter worth $25,000. Signaturefd LLC grew its position in Wolverine World Wide by 88.8% in the 4th quarter. Signaturefd LLC now owns 1,450 shares of the textile maker’s stock valued at $32,000 after acquiring an additional 682 shares in the last quarter. Natixis acquired a new stake in shares of Wolverine World Wide during the fourth quarter worth about $41,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Wolverine World Wide in the fourth quarter valued at approximately $64,000. Finally, KBC Group NV grew its holdings in shares of Wolverine World Wide by 43.8% in the fourth quarter. KBC Group NV now owns 4,303 shares of the textile maker’s stock valued at $96,000 after purchasing an additional 1,311 shares in the last quarter. Hedge funds and other institutional investors own 90.25% of the company’s stock.

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.