Wolverine World Wide’s (WWW) “Hold” Rating Reaffirmed at KeyCorp

KeyCorp restated their hold rating on shares of Wolverine World Wide, Inc. (NYSE:WWW) in a report issued on Wednesday.

A number of other research firms have also weighed in on WWW. BidaskClub upgraded shares of Wolverine World Wide from a hold rating to a buy rating in a research report on Tuesday, June 13th. Robert W. Baird reiterated a buy rating and issued a $32.00 price objective on shares of Wolverine World Wide in a research report on Sunday, September 17th. Morgan Stanley lifted their price objective on shares of Wolverine World Wide from $22.50 to $24.50 and gave the company an equal weight rating in a research report on Monday, September 25th. ValuEngine lowered shares of Wolverine World Wide from a buy rating to a hold rating in a research report on Tuesday, August 1st. Finally, Pivotal Research started coverage on shares of Wolverine World Wide in a research report on Thursday, October 5th. They issued a hold rating and a $32.00 price objective on the stock. One 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 presently has an average rating of Hold and a consensus price target of $25.06.

Shares of Wolverine World Wide (NYSE WWW) traded down 0.904% during mid-day trading on Wednesday, reaching $27.945. 469,254 shares of the company were exchanged. The stock has a 50 day moving average price of $27.46 and a 200-day moving average price of $26.33. Wolverine World Wide has a 12 month low of $20.58 and a 12 month high of $29.62. The stock has a market capitalization of $2.70 billion, a P/E ratio of 32.838 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, beating analysts’ consensus estimates of $0.29 by $0.14. The business had revenue of $598.80 million for the quarter, compared to analysts’ expectations of $573.78 million. Wolverine World Wide had a net margin of 3.32% and a return on equity of 15.81%. The company’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.26 EPS. Analysts predict that Wolverine World Wide will post $1.62 earnings per share for the current year.

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The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Monday, October 2nd will be given a dividend of $0.06 per share. The ex-dividend date is Friday, September 29th. This represents a $0.24 annualized dividend and a dividend yield of 0.85%. Wolverine World Wide’s payout ratio is currently 28.24%.

Several hedge funds and other institutional investors have recently modified their holdings of WWW. Wells Fargo & Company MN boosted its position in shares of Wolverine World Wide by 25.3% during the 1st quarter. Wells Fargo & Company MN now owns 114,690 shares of the textile maker’s stock worth $2,864,000 after purchasing an additional 23,149 shares in the last quarter. UBS Asset Management Americas Inc. boosted its position in shares of Wolverine World Wide by 52.0% during the 1st quarter. UBS Asset Management Americas Inc. now owns 63,520 shares of the textile maker’s stock worth $1,586,000 after purchasing an additional 21,722 shares in the last quarter. Karp Capital Management Corp purchased a new stake in shares of Wolverine World Wide during the 1st quarter worth $733,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Wolverine World Wide during the 1st quarter worth $209,000. Finally, Mason Street Advisors LLC boosted its position in shares of Wolverine World Wide by 4.9% during the 1st quarter. Mason Street Advisors LLC now owns 22,618 shares of the textile maker’s stock worth $565,000 after purchasing an additional 1,059 shares in the last quarter. Institutional investors own 90.84% 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. 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.

Analyst Recommendations for Wolverine World Wide (NYSE:WWW)

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