Shares of Wolverine World Wide, Inc. (NYSE:WWW) have been given a consensus recommendation of “Hold” by the eight ratings firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $33.05.
A number of equities research analysts have weighed in on WWW shares. Pivotal Research upped their price objective on shares of Wolverine World Wide from $30.00 to $32.00 and gave the stock a “hold” rating in a report on Friday, November 8th. ValuEngine upgraded shares of Wolverine World Wide from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Stifel Nicolaus upped their price objective on shares of Wolverine World Wide from $36.00 to $37.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Telsey Advisory Group restated a “market perform” rating and issued a $34.00 price objective (down previously from $38.00) on shares of Wolverine World Wide in a report on Monday, August 5th. Finally, DA Davidson restated a “buy” rating on shares of Wolverine World Wide in a report on Monday, November 4th.
Shares of NYSE WWW traded up $0.20 during midday trading on Thursday, hitting $33.30. 1,613,173 shares of the company traded hands, compared to its average volume of 801,392. Wolverine World Wide has a 12-month low of $23.05 and a 12-month high of $39.72. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.64 and a current ratio of 1.14. The stock has a 50-day moving average price of $29.35 and a 200 day moving average price of $28.42. The firm has a market cap of $2.68 billion, a P/E ratio of 14.98 and a beta of 1.06.
Wolverine World Wide (NYSE:WWW) last announced its quarterly earnings results on Thursday, November 7th. The textile maker reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.05. Wolverine World Wide had a net margin of 7.51% and a return on equity of 22.50%. The company had revenue of $574.30 million for the quarter, compared to analysts’ expectations of $575.97 million. During the same quarter in the previous year, the company earned $0.62 earnings per share. Wolverine World Wide’s quarterly revenue was up 2.8% on a year-over-year basis. As a group, equities analysts expect that Wolverine World Wide will post 2.25 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 2nd will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date is Tuesday, December 31st. Wolverine World Wide’s dividend payout ratio (DPR) is presently 18.43%.
Wolverine World Wide announced that its Board of Directors has authorized a share buyback program on Wednesday, September 11th that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the textile maker to buy up to 17.1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its shares are undervalued.
Several hedge funds and other institutional investors have recently modified their holdings of WWW. Amundi Pioneer Asset Management Inc. bought a new position in shares of Wolverine World Wide in the first quarter worth approximately $3,282,000. Campbell & CO Investment Adviser LLC bought a new position in shares of Wolverine World Wide in the second quarter worth approximately $1,010,000. Atwater Malick LLC lifted its stake in shares of Wolverine World Wide by 6.3% in the second quarter. Atwater Malick LLC now owns 104,562 shares of the textile maker’s stock worth $2,880,000 after buying an additional 6,176 shares in the last quarter. Diversified Trust Co lifted its stake in shares of Wolverine World Wide by 39.0% in the second quarter. Diversified Trust Co now owns 10,239 shares of the textile maker’s stock worth $282,000 after buying an additional 2,875 shares in the last quarter. Finally, Marathon Asset Management LLP lifted its stake in shares of Wolverine World Wide by 2.0% in the second quarter. Marathon Asset Management LLP now owns 830,127 shares of the textile maker’s stock worth $22,941,000 after buying an additional 16,010 shares in the last quarter. Hedge funds and other institutional investors own 93.25% 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. The company operates through three segments: Wolverine Outdoor & Lifestyle Group, Wolverine Boston Group, and Wolverine Heritage Group. It offers casual footwear and apparel; performance outdoor and athletic footwear and apparel; kids' footwear; industrial work boots and apparel; and uniform shoes and boots.
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