Wolverine World Wide’s (WWW) “Hold” Rating Reiterated at KeyCorp
WWW has been the subject of several other research reports. ValuEngine cut shares of Wolverine World Wide from a buy rating to a hold rating in a report on Thursday, August 24th. Morgan Stanley increased their target price on shares of Wolverine World Wide from $22.50 to $24.50 and gave the stock an equal weight rating in a report on Monday, September 25th. BidaskClub upgraded shares of Wolverine World Wide from a hold rating to a buy rating in a report on Saturday, July 1st. Robert W. Baird restated a buy rating and set a $32.00 target price on shares of Wolverine World Wide in a report on Sunday, September 17th. Finally, Pivotal Research started coverage on shares of Wolverine World Wide in a report on Thursday, October 5th. They set a hold rating and a $32.00 target price for the company. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. The stock has an average rating of Hold and an average price target of $25.06.
Wolverine World Wide (NYSE WWW) opened at 27.97 on Wednesday. Wolverine World Wide has a 12-month low of $20.58 and a 12-month high of $29.62. The stock’s 50 day moving average is $27.61 and its 200-day moving average is $26.37. The company has a market cap of $2.70 billion, a P/E ratio of 32.87 and a beta of 0.98.
Wolverine World Wide (NYSE:WWW) last announced its earnings results on Wednesday, August 9th. The textile maker reported $0.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.14. Wolverine World Wide had a net margin of 3.32% and a return on equity of 15.81%. The business had revenue of $598.80 million during the quarter, compared to analysts’ expectations of $573.78 million. During the same quarter in the prior year, the company posted $0.26 earnings per share. The firm’s revenue was up 2.6% on a year-over-year basis. Analysts predict that Wolverine World Wide will post $1.62 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Monday, October 2nd will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend is Friday, September 29th. Wolverine World Wide’s dividend payout ratio is 28.24%.
Large investors have recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas bought a new position in Wolverine World Wide during the second quarter worth about $221,000. Chicago Equity Partners LLC increased its position in Wolverine World Wide by 23.8% during the second quarter. Chicago Equity Partners LLC now owns 123,715 shares of the textile maker’s stock worth $3,465,000 after acquiring an additional 23,790 shares during the period. FMR LLC increased its position in Wolverine World Wide by 6.8% during the first quarter. FMR LLC now owns 1,937,005 shares of the textile maker’s stock worth $48,367,000 after acquiring an additional 123,641 shares during the period. Dimensional Fund Advisors LP increased its position in Wolverine World Wide by 5.1% during the first quarter. Dimensional Fund Advisors LP now owns 4,687,149 shares of the textile maker’s stock worth $117,039,000 after acquiring an additional 226,965 shares during the period. Finally, Heartland Advisors Inc. increased its position in Wolverine World Wide by 33.8% during the second quarter. Heartland Advisors Inc. now owns 471,123 shares of the textile maker’s stock worth $13,196,000 after acquiring an additional 118,961 shares during the period. 90.84% of the stock is currently owned by institutional investors and hedge funds.
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, and Chaco footwear; 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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