Wolverine World Wide (NYSE:WWW) Receives Market Perform Rating from Telsey Advisory Group

Telsey Advisory Group reaffirmed their market perform rating on shares of Wolverine World Wide (NYSE:WWW) in a report issued on Wednesday, Benzinga reports. Telsey Advisory Group currently has a $10.00 price target on the textile maker’s stock.

Wolverine World Wide Stock Performance

Shares of Wolverine World Wide stock opened at $10.45 on Wednesday. The stock has a 50 day moving average price of $10.10 and a 200-day moving average price of $9.15. Wolverine World Wide has a one year low of $7.21 and a one year high of $17.85. The company has a current ratio of 1.18, a quick ratio of 0.75 and a debt-to-equity ratio of 2.02.

Wolverine World Wide (NYSE:WWW) last posted its quarterly earnings data on Wednesday, February 21st. The textile maker reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.03). Wolverine World Wide had a positive return on equity of 1.45% and a negative net margin of 1.77%. The firm had revenue of $526.70 million during the quarter, compared to analysts’ expectations of $520.12 million. During the same period last year, the company earned ($0.15) earnings per share. The business’s revenue for the quarter was down 20.8% compared to the same quarter last year. Equities analysts forecast that Wolverine World Wide will post 0.77 EPS for the current year.

Wolverine World Wide Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Monday, April 1st were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date of this dividend was Thursday, March 28th. Wolverine World Wide’s payout ratio is presently -78.43%.

Institutional Investors Weigh In On Wolverine World Wide

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WWW. GAMMA Investing LLC bought a new position in shares of Wolverine World Wide during the 4th quarter worth $26,000. Sherbrooke Park Advisers LLC purchased a new stake in Wolverine World Wide in the third quarter worth about $93,000. Aristeia Capital LLC bought a new position in Wolverine World Wide during the 3rd quarter worth about $103,000. Oxford Asset Management LLP purchased a new position in Wolverine World Wide during the 4th quarter valued at about $124,000. Finally, Connable Office Inc. bought a new stake in shares of Wolverine World Wide in the 4th quarter valued at about $137,000. 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.