Wolverine World Wide, Inc. (WWW) Given Consensus Recommendation of “Hold” by Brokerages

Wolverine World Wide, Inc. (NYSE:WWW) has been given a consensus recommendation of “Hold” by the eleven analysts that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $22.83.

A number of equities research analysts have weighed in on WWW shares. B. Riley restated a “neutral” rating and set a $26.00 price target on shares of Wolverine World Wide in a research report on Monday, May 8th. BidaskClub upgraded Wolverine World Wide from a “hold” rating to a “buy” rating in a report on Tuesday, June 13th. Zacks Investment Research downgraded Wolverine World Wide from a “buy” rating to a “hold” rating in a report on Tuesday, May 16th. TheStreet downgraded Wolverine World Wide from a “b-” rating to a “c+” rating in a report on Wednesday, February 22nd. Finally, Robert W. Baird upgraded Wolverine World Wide from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $29.00 to $30.00 in a report on Wednesday, May 17th.

Hedge funds have recently bought and sold shares of the stock. Glen Harbor Capital Management LLC boosted 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 boosted 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 boosted 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 boosted 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 boosted 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. 93.18% of the stock is currently owned by institutional investors and hedge funds.

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Shares of Wolverine World Wide (NYSE:WWW) traded down 3.39% during midday trading on Tuesday, reaching $25.66. The company had a trading volume of 202,058 shares. The company has a market capitalization of $2.49 billion, a PE ratio of 29.13 and a beta of 0.88. Wolverine World Wide has a one year low of $18.51 and a one year high of $27.38. The company has a 50 day moving average of $25.51 and a 200 day moving average of $24.26.

Wolverine World Wide (NYSE:WWW) last released its quarterly earnings results on Wednesday, May 10th. The textile maker reported $0.37 earnings per share for the quarter, beating the Zacks’ 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 for the quarter, compared to the consensus estimate of $557.53 million. During the same quarter last year, the business posted $0.29 earnings per share. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. Analysts predict that Wolverine World Wide will post $1.55 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 1st. Shareholders of record on Monday, July 3rd will be given 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 0.90%. Wolverine World Wide’s payout ratio is 27.27%.

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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