Shares of Wolverine World Wide, Inc. (NYSE:WWW) have earned a consensus rating of “Hold” from the eight research firms that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $34.00.
WWW has been the subject of several recent analyst reports. Wedbush reaffirmed an “outperform” rating on shares of Wolverine World Wide in a research report on Tuesday, October 1st. ValuEngine raised Wolverine World Wide from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Stifel Nicolaus set a $36.00 price target on Wolverine World Wide and gave the stock a “buy” rating in a research report on Monday, September 9th. Pivotal Research lifted their price target on Wolverine World Wide from $30.00 to $32.00 and gave the stock a “hold” rating in a research report on Friday, November 8th. Finally, Argus raised Wolverine World Wide from a “hold” rating to a “buy” rating in a research report on Wednesday, November 27th.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Anchor Capital Advisors LLC increased its holdings in Wolverine World Wide by 1.8% in the 3rd quarter. Anchor Capital Advisors LLC now owns 30,405 shares of the textile maker’s stock worth $859,000 after buying an additional 532 shares in the last quarter. Rhumbline Advisers increased its holdings in Wolverine World Wide by 0.4% in the 3rd quarter. Rhumbline Advisers now owns 286,794 shares of the textile maker’s stock worth $8,105,000 after buying an additional 1,021 shares in the last quarter. M&T Bank Corp increased its holdings in Wolverine World Wide by 14.9% in the 2nd quarter. M&T Bank Corp now owns 8,924 shares of the textile maker’s stock worth $245,000 after buying an additional 1,160 shares in the last quarter. Jennison Associates LLC increased its holdings in Wolverine World Wide by 5.8% in the 2nd quarter. Jennison Associates LLC now owns 24,248 shares of the textile maker’s stock worth $668,000 after buying an additional 1,325 shares in the last quarter. Finally, ETRADE Capital Management LLC increased its holdings in Wolverine World Wide by 6.3% in the 2nd quarter. ETRADE Capital Management LLC now owns 23,122 shares of the textile maker’s stock worth $637,000 after buying an additional 1,380 shares in the last quarter. Institutional investors own 97.92% of the company’s stock.
Wolverine World Wide (NYSE:WWW) last posted its quarterly earnings results on Thursday, November 7th. The textile maker reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.05. The firm had revenue of $574.30 million during the quarter, compared to analyst estimates of $575.97 million. Wolverine World Wide had a return on equity of 22.50% and a net margin of 7.51%. Wolverine World Wide’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.62 EPS. Research analysts anticipate that Wolverine World Wide will post 2.25 earnings per share for the current fiscal year.
Wolverine World Wide announced that its board has approved a stock repurchase program on Wednesday, September 11th that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the textile maker to purchase up to 17.1% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 2nd will be issued a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.40 annualized dividend and a yield of 1.21%. Wolverine World Wide’s payout ratio is 18.43%.
Wolverine World Wide Company Profile
Wolverine World Wide, Inc designs, manufactures, sources, markets, licenses, and distributes footwear, apparel, and accessories. The company operates through three segments: Wolverine Outdoor & Lifestyle Group, Wolverine Boston Group, and Wolverine Heritage Group. It offers casual footwear and apparel; performance outdoor and athletic footwear and apparel; kids' footwear; industrial work boots and apparel; and uniform shoes and boots.
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