A number of other equities analysts have also recently commented on the company. Buckingham Research increased their target price on Wolverine World Wide from $34.00 to $38.00 and gave the company a neutral rating in a report on Thursday, August 16th. Zacks Investment Research raised Wolverine World Wide from a hold rating to a buy rating and set a $41.00 target price for the company in a report on Friday, August 10th. Robert W. Baird reissued a buy rating and set a $43.00 target price on shares of Wolverine World Wide in a report on Friday, August 10th. DA Davidson set a $44.00 target price on Wolverine World Wide and gave the company a buy rating in a report on Thursday, August 9th. Finally, Telsey Advisory Group increased their target price on Wolverine World Wide from $35.00 to $39.00 and gave the company a market perform rating in a report on Thursday, August 9th. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $38.04.
NYSE WWW opened at $38.28 on Friday. The stock has a market capitalization of $3.57 billion, a P/E ratio of 23.29, a price-to-earnings-growth ratio of 1.76 and a beta of 0.98. Wolverine World Wide has a twelve month low of $25.25 and a twelve month high of $38.52. The company has a quick ratio of 1.86, a current ratio of 2.65 and a debt-to-equity ratio of 0.61.
Wolverine World Wide (NYSE:WWW) last announced its earnings results on Wednesday, August 8th. The textile maker reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.08. Wolverine World Wide had a return on equity of 18.58% and a net margin of 2.83%. The business had revenue of $566.90 million during the quarter, compared to analysts’ expectations of $569.24 million. During the same quarter in the prior year, the firm earned $0.43 earnings per share. The business’s revenue was down 5.3% compared to the same quarter last year. equities research analysts expect that Wolverine World Wide will post 2.13 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 1st. Stockholders of record on Monday, October 1st will be given a $0.08 dividend. The ex-dividend date of this dividend is Friday, September 28th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.84%. Wolverine World Wide’s dividend payout ratio (DPR) is presently 19.51%.
In other news, insider Michael Jeppesen sold 49,151 shares of the company’s stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $37.77, for a total value of $1,856,433.27. Following the completion of the sale, the insider now directly owns 156,470 shares in the company, valued at $5,909,871.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William K. Gerber sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $37.17, for a total value of $37,170.00. The disclosure for this sale can be found here. 5.81% of the stock is owned by corporate insiders.
Several hedge funds have recently bought and sold shares of WWW. Earnest Partners LLC grew its position in Wolverine World Wide by 71.6% in the first quarter. Earnest Partners LLC now owns 2,605,580 shares of the textile maker’s stock worth $75,301,000 after acquiring an additional 1,086,854 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new position in Wolverine World Wide in the second quarter worth approximately $24,604,000. BlackRock Inc. grew its position in Wolverine World Wide by 5.3% in the second quarter. BlackRock Inc. now owns 13,103,559 shares of the textile maker’s stock worth $455,613,000 after acquiring an additional 664,587 shares during the period. Eagle Asset Management Inc. purchased a new position in Wolverine World Wide in the first quarter worth approximately $14,951,000. Finally, Monarch Partners Asset Management LLC purchased a new position in Wolverine World Wide in the second quarter worth approximately $17,715,000. Institutional investors and hedge funds own 94.99% of the company’s stock.
Wolverine World Wide Company Profile
Wolverine World Wide, Inc designs, manufactures, sources, markets, licenses, and distributes footwear, apparel, and accessories. The company operates through four segments: Wolverine Outdoor & Lifestyle Group, Wolverine Boston Group, Wolverine Heritage Group, and Wolverine Multi-Brand Group. It offers casual footwear and apparel; performance outdoor and athletic footwear and apparel; children's footwear; industrial work boots and apparel; and uniform shoes and boots.
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