Wolverine World Wide, Inc. (NYSE: WWW) Receives Consensus “Buy” Recommendation From Analysts
Wolverine World Wide, Inc. (NYSE: WWW – Get a rating) received a consensus “Buy” rating from the twelve rating agencies that currently cover the company, reports Marketbeat Ratings. Five equity research analysts rated the stock with a hold recommendation and five gave the company a buy recommendation. The 1-year average target price among brokers who have reported on the stock in the past year is $36.30.
A number of research analysts have recently released WWW stock reports. Telsey Advisory Group lowered its price target on Wolverine World Wide shares from $32.00 to $30.00 and set a “market performance” rating on the stock in a Thursday, February 24 research note . Robert W. Baird downgraded Wolverine World Wide shares from an “outperforming” rating to a “neutral” rating and lowered their price target for the stock from $45.00 to $33.00 in a report from the Tuesday, January 4. Seaport Res Ptn reaffirmed a “neutral” rating on Wolverine World Wide shares in a Tuesday, January 18 report. Piper Sandler cut her price target on Wolverine World Wide shares from $34.00 to $28.00 and set a “neutral” rating on the stock in a Wednesday, February 23 report. Finally, B. Riley cut his price target on Wolverine World Wide shares from $37.00 to $35.00 in a Thursday, February 24 report.
Separately, director Brenda J. Lauderback sold 4,975 shares of the company in a transaction that took place on Monday, February 28. The shares were sold at an average price of $23.34, for a total transaction of $116,116.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, available at the SEC website. Additionally, CEO Brendan Hoffman purchased 5,000 shares of the company in a transaction that took place on Tuesday, March 8. The shares were purchased at an average cost of $21.65 per share, with a total value of $108,250.00. Disclosure of this purchase can be found here. Company insiders hold 4.73% of the company’s shares.
Several institutional investors have recently increased or reduced their stake in WWW. Moors & Cabot Inc. bought a new stock position in Wolverine World Wide in Q3 for a value of approximately $145,000. Wellington Management Group LLP increased its position in Wolverine World Wide by 150.8% during the third quarter. Wellington Management Group LLP now owns 2,269,198 shares of the textile maker worth $67,713,000 after acquiring an additional 1,364,335 shares during the period. Diamond Hill Capital Management Inc. increased its stake in Wolverine World Wide by 66.9% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 2,396,894 shares of the textile maker worth $69,055,000 after buying an additional 960,954 shares last quarter. Norges Bank acquired a new stake in Wolverine World Wide during the fourth quarter valued at $21,948,000. Finally, Invesco Ltd. increased its stake in Wolverine World Wide by 21.7% during the second quarter. Invesco Ltd. now owns 2,608,420 shares of the textile maker worth $87,747,000 after buying an additional 465,207 shares last quarter. 92.45% of the shares are held by institutional investors.
NYSE WWW opened at $22.39 on Friday. Wolverine World Wide has a 1-year low of $20.68 and a 1-year high of $44.74. The company has a debt ratio of 1.14, a current ratio of 1.19 and a quick ratio of 0.71. The stock’s fifty-day moving average price is $25.43 and its 200-day moving average price is $30.05. The company has a market capitalization of $1.83 billion, a price/earnings ratio of 27.99, a PEG ratio of 0.86 and a beta of 1.82.
Wolverine World Wide (NYSE: WWW- Get a rating) last released its quarterly results on Wednesday, February 23. The textile maker reported earnings per share (EPS) of $0.41 for the quarter, hitting analysts’ consensus estimate of $0.41. Wolverine World Wide had a net margin of 2.83% and a return on equity of 27.42%. The company posted revenue of $635.60 million for the quarter, versus analyst estimates of $630.07 million. In the same period a year earlier, the company posted earnings per share of $0.21. The company’s revenues increased by 24.7% compared to the same quarter last year. Research analysts expect Wolverine World Wide to post earnings per share of 2.57 for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, May 5. Investors of record on Friday, April 1 will receive a dividend of $0.10 per share. This represents an annualized dividend of $0.40 and a dividend yield of 1.79%. The ex-date of this dividend is Thursday, March 31. The payout rate for Wolverine World Wide is 50.00%.
Wolverine Global Company Profile (Get a rating)
Wolverine World Wide, Inc. is engaged in the design, manufacture and sale of casual, active lifestyle, work, outdoor sports, athletic, children’s and uniform footwear and apparel. It operates through the following segments: Wolverine Michigan Group and Wolverine Boston Group. The Wolverine Michigan Group includes Merrell Footwear and Apparel, Cat Footwear, Wolverine Footwear and Apparel, Chaco Footwear, Hush Puppies Footwear and Apparel, Bates Uniform Footwear, Harley-Davidson Footwear and Hytest Safety Footwear.
This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]
Should you invest $1,000 in Wolverine World Wide right now?
Before you consider Wolverine World Wide, you’ll want to hear this.
MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and Wolverine World Wide didn’t make the list.
While Wolverine World Wide currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the 5 actions here