Wolverine World Wide, Inc. (NYSE:WWW) Receives $21.11 Average Target Price from Brokerages

Shares of Wolverine World Wide, Inc. (NYSE:WWW) have earned an average rating of “Hold” from the ten brokerages that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $21.3750.

Several brokerages recently commented on WWW. BNP Paribas Exane downgraded shares of Wolverine World Wide from an “outperform” rating to a “neutral” rating and cut their price target for the company from $38.00 to $19.00 in a report on Thursday, January 22nd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Wolverine World Wide in a research note on Monday, December 29th. KeyCorp reduced their target price on Wolverine World Wide from $32.00 to $24.00 and set an “overweight” rating for the company in a report on Thursday, November 6th. UBS Group dropped their price target on Wolverine World Wide from $28.00 to $26.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $18.00 price objective (down previously from $29.00) on shares of Wolverine World Wide in a report on Wednesday, November 5th.

Wolverine World Wide Trading Down 1.0%

Shares of NYSE:WWW traded down $0.18 during trading on Thursday, hitting $17.65. The company had a trading volume of 146,755 shares, compared to its average volume of 1,562,802. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of 16.98 and a beta of 1.91. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.34 and a quick ratio of 0.79. The company has a fifty day simple moving average of $18.21 and a two-hundred day simple moving average of $22.56. Wolverine World Wide has a one year low of $9.58 and a one year high of $32.80.

Wolverine World Wide Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Wednesday, April 1st will be given a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $0.40 dividend on an annualized basis and a yield of 2.3%. Wolverine World Wide’s dividend payout ratio (DPR) is currently 38.46%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Wolverine World Wide by 4.1% during the fourth quarter. Vanguard Group Inc. now owns 8,988,758 shares of the textile maker’s stock worth $163,146,000 after purchasing an additional 353,808 shares in the last quarter. Callodine Capital Management LP increased its stake in shares of Wolverine World Wide by 41.0% in the second quarter. Callodine Capital Management LP now owns 4,297,586 shares of the textile maker’s stock valued at $77,700,000 after purchasing an additional 1,250,515 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Wolverine World Wide by 3.0% during the fourth quarter. JPMorgan Chase & Co. now owns 2,006,578 shares of the textile maker’s stock valued at $36,419,000 after buying an additional 59,304 shares during the last quarter. Oxbow Capital Management HK Ltd bought a new stake in shares of Wolverine World Wide during the 3rd quarter worth about $54,431,000. Finally, Geode Capital Management LLC raised its position in Wolverine World Wide by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 1,889,235 shares of the textile maker’s stock valued at $34,296,000 after buying an additional 10,423 shares during the period. 90.25% of the stock is currently owned by institutional investors and hedge funds.

About Wolverine World Wide

Wolverine World Wide, Inc (NYSE: WWW) is a global footwear and apparel company headquartered in Rockford, Michigan. The company designs, manufactures and markets a diversified portfolio of casual, active and performance lifestyle brands. Wolverine World Wide’s offerings span multiple price points and consumer segments, with products that include outdoor and trail footwear, running shoes, casual sneakers, boat shoes, work boots and related apparel and accessories.

Key brands in Wolverine World Wide’s portfolio include Merrell, an outdoor performance footwear brand; Saucony, known for running shoes and athletic gear; Sperry, which popularized boat shoes; Hush Puppies, a casual and comfort‐oriented line; and Keds, a heritage sneaker label.