Analysts Set Wolverine World Wide, Inc. (NYSE:WWW) Price Target at $28.29

Shares of Wolverine World Wide, Inc. (NYSE:WWW) have received a consensus rating of “Moderate Buy” from the nine ratings firms that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $28.2857.

A number of analysts have recently commented on WWW shares. UBS Group lifted their price target on Wolverine World Wide from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. Telsey Advisory Group restated a “market perform” rating and set a $29.00 price objective (up from $17.00) on shares of Wolverine World Wide in a research report on Wednesday, August 6th. Piper Sandler restated an “overweight” rating and set a $25.00 price objective (up from $20.00) on shares of Wolverine World Wide in a research report on Tuesday, August 5th. Wall Street Zen upgraded Wolverine World Wide from a “buy” rating to a “strong-buy” rating in a research report on Friday. Finally, KeyCorp restated an “overweight” rating and set a $32.00 price objective (up from $25.00) on shares of Wolverine World Wide in a research report on Thursday, August 7th.

Wolverine World Wide Stock Performance

Shares of WWW stock opened at $25.34 on Friday. The business’s 50-day moving average price is $28.54 and its 200-day moving average price is $20.45. Wolverine World Wide has a 12 month low of $9.58 and a 12 month high of $32.80. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of 24.85 and a beta of 1.81. The company has a current ratio of 1.24, a quick ratio of 0.75 and a debt-to-equity ratio of 1.58.

Wolverine World Wide (NYSE:WWW) last announced its quarterly earnings results on Wednesday, August 6th. The textile maker reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.12. Wolverine World Wide had a return on equity of 31.99% and a net margin of 4.73%.The firm had revenue of $474.20 million for the quarter, compared to analyst estimates of $447.82 million. During the same period last year, the firm posted $0.15 earnings per share. The business’s revenue for the quarter was up 11.5% on a year-over-year basis. Equities research analysts forecast that Wolverine World Wide will post 1.23 EPS for the current year.

Wolverine World Wide Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Wednesday, October 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 1.6%. The ex-dividend date is Wednesday, October 1st. Wolverine World Wide’s dividend payout ratio (DPR) is 39.22%.

Insider Transactions at Wolverine World Wide

In other Wolverine World Wide news, Director Nicholas T. Long sold 12,854 shares of Wolverine World Wide stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $31.84, for a total value of $409,271.36. Following the completion of the sale, the director directly owned 76,268 shares in the company, valued at approximately $2,428,373.12. The trade was a 14.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Brenda J. Lauderback sold 12,854 shares of Wolverine World Wide stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $32.14, for a total value of $413,127.56. Following the completion of the sale, the director owned 48,675 shares of the company’s stock, valued at approximately $1,564,414.50. The trade was a 20.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.28% of the stock is owned by company insiders.

Institutional Investors Weigh In On Wolverine World Wide

A number of hedge funds have recently added to or reduced their stakes in the business. Praxis Investment Management Inc. bought a new stake in Wolverine World Wide in the third quarter worth approximately $271,000. Corient Private Wealth LLC bought a new stake in shares of Wolverine World Wide during the second quarter valued at approximately $272,000. Squarepoint Ops LLC increased its holdings in shares of Wolverine World Wide by 67.6% during the second quarter. Squarepoint Ops LLC now owns 332,870 shares of the textile maker’s stock valued at $6,018,000 after acquiring an additional 134,219 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of Wolverine World Wide by 1.3% during the second quarter. Thrivent Financial for Lutherans now owns 59,742 shares of the textile maker’s stock valued at $1,074,000 after acquiring an additional 782 shares in the last quarter. Finally, Nomura Holdings Inc. bought a new stake in shares of Wolverine World Wide during the second quarter valued at approximately $1,090,000. 90.25% of the stock is currently owned by institutional investors.

About Wolverine World Wide

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.