Wolverine World Wide Inc. (NYSE:WWW) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The firm presently has a $26.00 price objective on the stock. Zacks Investment Research’s target price indicates a potential upside of 15.45% from the company’s previous close.
According to Zacks, “WOLVERINE WORLD WIDE INC. Wolverine World Wide, Inc. designs, manufactures, distributes and markets various brands and styles of footwear. The wide variety of footwear sold by the Company includes casual shoes, slippers, moccasins, dress shoes, boots, uniform shoes and work boots and shoes. The Company is also a domestic tanner of pigskin. “
Other equities analysts have also recently issued research reports about the company. B. Riley reiterated a “neutral” rating and set a $24.00 price target on shares of Wolverine World Wide in a report on Saturday, July 30th. Susquehanna upgraded Wolverine World Wide from a “neutral” rating to a “positive” rating and lifted their price target for the stock from $18.00 to $25.00 in a report on Thursday, July 7th. Argus restated a “buy” rating on shares of Wolverine World Wide in a report on Wednesday, August 3rd. Telsey Advisory Group boosted their price objective on Wolverine World Wide from $20.00 to $23.00 and gave the stock a “market perform” rating in a report on Wednesday, July 27th. Finally, TheStreet upgraded Wolverine World Wide from a “hold” rating to a “buy” rating in a report on Tuesday, June 21st. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. Wolverine World Wide currently has an average rating of “Hold” and a consensus target price of $21.55.
Shares of Wolverine World Wide (NYSE:WWW) opened at 22.52 on Wednesday. The company has a market capitalization of $2.24 billion, a price-to-earnings ratio of 22.82 and a beta of 0.79. The company’s 50-day moving average price is $23.54 and its 200-day moving average price is $20.70. Wolverine World Wide has a 52-week low of $14.74 and a 52-week high of $25.54.
Wolverine World Wide (NYSE:WWW) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.02. Wolverine World Wide had a return on equity of 13.60% and a net margin of 3.81%. The business earned $583.70 million during the quarter, compared to analysts’ expectations of $578.99 million. During the same quarter last year, the company posted $0.27 earnings per share. Wolverine World Wide’s quarterly revenue was down 7.4% on a year-over-year basis. Equities research analysts forecast that Wolverine World Wide will post $1.37 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Monday, October 3rd will be given a $0.06 dividend. The ex-dividend date is Thursday, September 29th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.07%. Wolverine World Wide’s payout ratio is 24.49%.
Several large investors have recently added to or reduced their stakes in the stock. Aperio Group LLC increased its stake in Wolverine World Wide by 33.7% in the first quarter. Aperio Group LLC now owns 17,121 shares of the company’s stock worth $315,000 after buying an additional 4,319 shares during the last quarter. Nisa Investment Advisors L.L.C. increased its position in shares of Wolverine World Wide by 29.2% in the first quarter. Nisa Investment Advisors L.L.C. now owns 60,200 shares of the company’s stock valued at $1,109,000 after buying an additional 13,600 shares in the last quarter. Virginia Retirement System purchased a new position in shares of Wolverine World Wide during the first quarter valued at approximately $777,000. Pacad Investment Ltd. increased its position in shares of Wolverine World Wide by 40.8% in the first quarter. Pacad Investment Ltd. now owns 16,900 shares of the company’s stock valued at $311,000 after buying an additional 4,900 shares in the last quarter. Finally, Aristotle Fund L.P. purchased a new position in shares of Wolverine World Wide during the first quarter valued at approximately $276,000. Institutional investors own 89.69% of the company’s stock.
About Wolverine World Wide
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. The Company’s products are marketed around the world in approximately 200 countries and territories through Company-owned wholesale and consumer-direct operations, and third-party licensees and distributors.
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