Wolverine World Wide’s (WWW) Market Perform Rating Reaffirmed at Telsey Advisory Group

Telsey Advisory Group reaffirmed their market perform rating on shares of Wolverine World Wide (NYSE:WWW) in a report published on Friday,Benzinga reports. Telsey Advisory Group currently has a $18.00 price target on the textile maker’s stock.

Several other research analysts also recently commented on the stock. UBS Group cut their target price on Wolverine World Wide from $28.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday, January 8th. Robert W. Baird dropped their price target on Wolverine World Wide from $35.00 to $23.00 and set an “outperform” rating for the company in a research note on Thursday, November 6th. Zacks Research downgraded Wolverine World Wide from a “hold” rating to a “strong sell” rating in a report on Friday, January 2nd. BNP Paribas Exane lowered Wolverine World Wide from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $38.00 to $19.00 in a research report on Thursday, January 22nd. Finally, Piper Sandler cut Wolverine World Wide from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $22.00 to $16.00 in a report on Wednesday, January 7th. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $21.38.

Wolverine World Wide Price Performance

WWW stock opened at $18.15 on Friday. The company’s 50-day moving average price is $18.23 and its two-hundred day moving average price is $22.32. The firm has a market cap of $1.49 billion, a P/E ratio of 17.45 and a beta of 1.91. The company has a quick ratio of 0.79, a current ratio of 1.34 and a debt-to-equity ratio of 1.40. Wolverine World Wide has a 12 month low of $9.58 and a 12 month high of $32.80.

Wolverine World Wide Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 1st. Investors of record on Wednesday, April 1st will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, April 1st. Wolverine World Wide’s payout ratio is currently 38.46%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Wolverine World Wide by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 8,988,758 shares of the textile maker’s stock worth $163,146,000 after purchasing an additional 353,808 shares during the period. Callodine Capital Management LP lifted its holdings in Wolverine World Wide by 41.0% in the second quarter. Callodine Capital Management LP now owns 4,297,586 shares of the textile maker’s stock valued at $77,700,000 after buying an additional 1,250,515 shares during the period. State Street Corp boosted its position in Wolverine World Wide by 2.1% during the fourth quarter. State Street Corp now owns 3,100,339 shares of the textile maker’s stock valued at $56,271,000 after acquiring an additional 63,041 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Wolverine World Wide by 3.0% in the 4th quarter. JPMorgan Chase & Co. now owns 2,006,578 shares of the textile maker’s stock worth $36,419,000 after acquiring an additional 59,304 shares in the last quarter. Finally, Oxbow Capital Management HK Ltd acquired a new position in shares of Wolverine World Wide in the 3rd quarter valued at about $54,431,000. Institutional investors own 90.25% of the company’s stock.

Wolverine World Wide Company Profile

Wolverine World Wide, Inc (NYSE: WWW) is a global footwear and apparel company headquartered in Rockford, Michigan. The company designs, manufactures and markets a diversified portfolio of casual, active and performance lifestyle brands. Wolverine World Wide’s offerings span multiple price points and consumer segments, with products that include outdoor and trail footwear, running shoes, casual sneakers, boat shoes, work boots and related apparel and accessories.

Key brands in Wolverine World Wide’s portfolio include Merrell, an outdoor performance footwear brand; Saucony, known for running shoes and athletic gear; Sperry, which popularized boat shoes; Hush Puppies, a casual and comfort‐oriented line; and Keds, a heritage sneaker label.