Buckingham Research Raises Wolverine World Wide, Inc. (WWW) Price Target to $28.00
Wolverine World Wide, Inc. (NYSE:WWW) had its price objective raised by Buckingham Research from $24.00 to $28.00 in a research note issued to investors on Thursday. They currently have a neutral rating on the textile maker’s stock.
Several other research analysts have also recently weighed in on the stock. Telsey Advisory Group boosted their price objective on shares of Wolverine World Wide from $29.00 to $30.00 and gave the stock a market perform rating in a research report on Thursday. Piper Jaffray Companies restated a hold rating and issued a $26.00 price objective on shares of Wolverine World Wide in a research report on Wednesday. Pivotal Research upgraded shares of Wolverine World Wide from a hold rating to a buy rating and boosted their price objective for the stock from $32.00 to $33.00 in a research report on Wednesday. KeyCorp restated a hold rating on shares of Wolverine World Wide in a research report on Wednesday, October 11th. Finally, Morgan Stanley boosted their price objective on shares of Wolverine World Wide from $22.50 to $24.50 and gave the stock an equal weight rating in a research report on Monday, September 25th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $25.65.
Shares of Wolverine World Wide (NYSE WWW) traded up $0.76 on Thursday, hitting $27.75. The stock had a trading volume of 1,230,800 shares, compared to its average volume of 843,341. The firm has a market cap of $2,655.15, a P/E ratio of 17.79, a P/E/G ratio of 1.36 and a beta of 0.94. The company has a quick ratio of 1.95, a current ratio of 3.09 and a debt-to-equity ratio of 0.74. Wolverine World Wide has a fifty-two week low of $20.94 and a fifty-two week high of $29.62.
Wolverine World Wide (NYSE:WWW) last posted its quarterly earnings data on Wednesday, November 8th. The textile maker reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.06. Wolverine World Wide had a net margin of 2.35% and a return on equity of 15.25%. The firm had revenue of $581.30 million during the quarter, compared to analysts’ expectations of $552.36 million. During the same quarter in the previous year, the company posted $0.49 EPS. Wolverine World Wide’s revenue was down 3.7% on a year-over-year basis. sell-side analysts anticipate that Wolverine World Wide will post 1.63 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Tuesday, January 2nd will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Friday, December 29th. Wolverine World Wide’s payout ratio is 40.00%.
Institutional investors have recently modified their holdings of the business. Teacher Retirement System of Texas bought a new stake in shares of Wolverine World Wide during the 2nd quarter valued at $221,000. Chicago Equity Partners LLC raised its position in shares of Wolverine World Wide by 23.8% during the 2nd quarter. Chicago Equity Partners LLC now owns 123,715 shares of the textile maker’s stock valued at $3,465,000 after acquiring an additional 23,790 shares during the last quarter. Heartland Advisors Inc. raised its position in shares of Wolverine World Wide by 33.8% during the 2nd quarter. Heartland Advisors Inc. now owns 471,123 shares of the textile maker’s stock valued at $13,196,000 after acquiring an additional 118,961 shares during the last quarter. American Century Companies Inc. bought a new stake in shares of Wolverine World Wide during the 2nd quarter valued at $8,663,000. Finally, Morgan Stanley raised its position in shares of Wolverine World Wide by 26.3% during the 1st quarter. Morgan Stanley now owns 374,565 shares of the textile maker’s stock valued at $9,353,000 after acquiring an additional 77,973 shares during the last quarter. Institutional investors own 91.41% of the company’s stock.
Wolverine World Wide Company Profile
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.
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