UBS Group Issues Positive Forecast for Wolverine World Wide (NYSE:WWW) Stock Price

Wolverine World Wide (NYSE:WWW) had its price target increased by UBS Group from $17.00 to $18.00 in a research report report published on Tuesday morning,Benzinga reports. UBS Group currently has a buy rating on the textile maker’s stock.

Several other brokerages also recently issued reports on WWW. Stifel Nicolaus lowered their price target on Wolverine World Wide from $27.00 to $19.00 and set a “buy” rating for the company in a report on Thursday, April 10th. StockNews.com cut Wolverine World Wide from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th. Baird R W raised shares of Wolverine World Wide from a “hold” rating to a “strong-buy” rating in a research note on Monday. Telsey Advisory Group reissued a “market perform” rating and set a $23.00 price objective on shares of Wolverine World Wide in a research report on Wednesday, February 19th. Finally, Piper Sandler cut their price objective on shares of Wolverine World Wide from $27.00 to $18.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $18.88.

Wolverine World Wide Trading Up 4.1 %

Shares of NYSE WWW opened at $12.87 on Tuesday. Wolverine World Wide has a fifty-two week low of $9.58 and a fifty-two week high of $24.64. The firm has a market capitalization of $1.04 billion, a P/E ratio of 23.40 and a beta of 1.74. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.29 and a quick ratio of 0.77. The company’s 50 day simple moving average is $13.30 and its 200 day simple moving average is $18.33.

Wolverine World Wide (NYSE:WWW) last posted its quarterly earnings results on Wednesday, February 19th. The textile maker reported $0.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.42. Wolverine World Wide had a return on equity of 26.81% and a net margin of 2.73%. The company had revenue of $494.70 million for the quarter, compared to the consensus estimate of $485.74 million. During the same quarter in the prior year, the business posted ($0.30) EPS. The firm’s quarterly revenue was down 6.1% on a year-over-year basis. On average, analysts predict that Wolverine World Wide will post 1.23 EPS for the current year.

Wolverine World Wide Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 1st will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.40 annualized dividend and a yield of 3.11%. Wolverine World Wide’s payout ratio is presently 72.73%.

Hedge Funds Weigh In On Wolverine World Wide

Several hedge funds and other institutional investors have recently made changes to their positions in WWW. HighTower Advisors LLC acquired a new stake in Wolverine World Wide in the third quarter valued at $192,000. Barclays PLC raised its holdings in shares of Wolverine World Wide by 767.1% in the 3rd quarter. Barclays PLC now owns 250,830 shares of the textile maker’s stock valued at $4,368,000 after purchasing an additional 221,904 shares during the period. Geode Capital Management LLC lifted its stake in Wolverine World Wide by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,791,789 shares of the textile maker’s stock valued at $31,219,000 after purchasing an additional 17,400 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Wolverine World Wide during the third quarter worth about $113,000. Finally, JPMorgan Chase & Co. increased its position in Wolverine World Wide by 1,263.0% during the third quarter. JPMorgan Chase & Co. now owns 1,426,942 shares of the textile maker’s stock worth $24,857,000 after buying an additional 1,322,254 shares during the last quarter. 90.25% of the stock is 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.