Wolverine World Wide’s (WWW) Market Perform Rating Reaffirmed at Telsey Advisory Group

Telsey Advisory Group reissued their market perform rating on shares of Wolverine World Wide (NYSE:WWW) in a research report report published on Thursday morning, Marketbeat Ratings reports. The brokerage currently has a $15.00 target price on the textile maker’s stock.

Several other brokerages have also recently commented on WWW. Robert W. Baird increased their target price on shares of Wolverine World Wide from $13.00 to $15.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Piper Sandler reaffirmed an “overweight” rating and set a $18.00 price target on shares of Wolverine World Wide in a research report on Friday, August 23rd. KeyCorp upgraded shares of Wolverine World Wide from a “sector weight” rating to an “overweight” rating and set a $20.00 price target on the stock in a research note on Thursday, August 8th. UBS Group upgraded shares of Wolverine World Wide from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $13.00 to $20.00 in a research report on Friday, July 19th. Finally, Argus upgraded shares of Wolverine World Wide to a “hold” rating in a report on Friday, August 16th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $18.00.

Wolverine World Wide Stock Up 0.6 %

Shares of Wolverine World Wide stock traded up $0.12 on Thursday, hitting $21.92. The company had a trading volume of 2,171,560 shares, compared to its average volume of 1,119,501. The firm has a market capitalization of $1.75 billion, a P/E ratio of -20.54 and a beta of 1.78. Wolverine World Wide has a twelve month low of $7.58 and a twelve month high of $22.00. The company has a debt-to-equity ratio of 2.14, a current ratio of 1.19 and a quick ratio of 0.74. The stock has a 50-day moving average of $15.82 and a 200-day moving average of $13.99.

Wolverine World Wide (NYSE:WWW) last released its quarterly earnings results on Wednesday, August 7th. The textile maker reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.05. The company had revenue of $425.40 million during the quarter, compared to analysts’ expectations of $411.20 million. Wolverine World Wide had a negative net margin of 4.42% and a negative return on equity of 0.34%. The business’s quarterly revenue was down 27.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.19 earnings per share. Research analysts predict that Wolverine World Wide will post 0.85 earnings per share for the current year.

Wolverine World Wide Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 2nd will be issued a dividend of $0.10 per share. The ex-dividend date is Thursday, January 2nd. This represents a $0.40 annualized dividend and a yield of 1.82%. Wolverine World Wide’s payout ratio is -37.74%.

Insiders Place Their Bets

In other Wolverine World Wide news, insider David A. Latchana sold 7,706 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $17.02, for a total value of $131,156.12. Following the transaction, the insider now directly owns 13,889 shares in the company, valued at $236,390.78. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.28% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in WWW. Future Financial Wealth Managment LLC acquired a new stake in shares of Wolverine World Wide in the third quarter valued at about $35,000. Canada Pension Plan Investment Board acquired a new position in Wolverine World Wide in the 2nd quarter valued at about $68,000. Cedar Mountain Advisors LLC acquired a new position in Wolverine World Wide in the 3rd quarter valued at about $70,000. GAMMA Investing LLC boosted its holdings in Wolverine World Wide by 15.9% in the 3rd quarter. GAMMA Investing LLC now owns 4,494 shares of the textile maker’s stock valued at $78,000 after purchasing an additional 616 shares during the last quarter. Finally, Central Pacific Bank Trust Division acquired a new position in Wolverine World Wide in the 1st quarter valued at about $81,000. Hedge funds and other institutional investors own 90.25% of the company’s stock.

About Wolverine World Wide

Wolverine World Wide, Inc designs, manufactures, sources, markets, licenses, and distributes footwear, apparel, and accessories in the United States, Europe, the Middle East, Africa, the Asia Pacific, Canada and Latin America. It operates through Active Group and Work Group segments. The company offers casual footwear and apparel; performance outdoor and athletic footwear and apparel; kids' footwear; industrial work boots and apparel; and uniform shoes and boots.