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. “
A number of other equities analysts have also recently issued reports on WWW. B. Riley restated a neutral rating and issued a $24.00 target price on shares of Wolverine World Wide in a report on Saturday, July 30th. Argus restated a buy rating on shares of Wolverine World Wide in a report on Wednesday, August 3rd. Telsey Advisory Group lifted their target price 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. Susquehanna upgraded Wolverine World Wide from a neutral rating to a positive rating and lifted their target price for the stock from $18.00 to $25.00 in a report on Thursday, July 7th. 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 four have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $21.30.
Wolverine World Wide (NYSE:WWW) opened at 22.56 on Friday. Wolverine World Wide has a 12-month low of $14.74 and a 12-month high of $25.54. The stock has a market capitalization of $2.24 billion, a P/E ratio of 22.86 and a beta of 0.76. The stock has a 50 day moving average price of $22.98 and a 200-day moving average price of $21.03.
Wolverine World Wide (NYSE:WWW) last issued its earnings results on Tuesday, July 26th. The company reported $0.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.02. The business had revenue of $583.70 million for the quarter, compared to analysts’ expectations of $578.99 million. Wolverine World Wide had a return on equity of 13.60% and a net margin of 3.81%. The company’s quarterly revenue was down 7.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.27 EPS. Equities research analysts expect that Wolverine World Wide will post $1.37 EPS for the current year.
Hedge funds have recently made changes to their positions in the company. BlackRock Group LTD boosted its stake in shares of Wolverine World Wide by 9.9% in the first quarter. BlackRock Group LTD now owns 125,662 shares of the company’s stock worth $2,315,000 after buying an additional 11,370 shares in the last quarter. Silvercrest Asset Management Group LLC boosted its stake in shares of Wolverine World Wide by 10.6% in the first quarter. Silvercrest Asset Management Group LLC now owns 1,849,236 shares of the company’s stock worth $34,062,000 after buying an additional 177,798 shares in the last quarter. Deprince Race & Zollo Inc. bought a new stake in shares of Wolverine World Wide during the second quarter worth $30,362,000. BNP Paribas Arbitrage SA boosted its stake in shares of Wolverine World Wide by 18.0% in the second quarter. BNP Paribas Arbitrage SA now owns 32,409 shares of the company’s stock worth $659,000 after buying an additional 4,933 shares in the last quarter. Finally, Jensen Investment Management Inc. boosted its stake in shares of Wolverine World Wide by 15.6% in the second quarter. Jensen Investment Management Inc. now owns 23,760 shares of the company’s stock worth $483,000 after buying an additional 3,210 shares in the last quarter. 89.69% of the stock is owned by institutional investors.
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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