Wolverine World Wide (NYSE:WWW) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Wolverine World Wide (NYSE:WWW) from a hold rating to a buy rating in a research note issued to investors on Saturday morning.

Several other research firms have also recently weighed in on WWW. BNP Paribas Exane cut Wolverine World Wide from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $38.00 to $19.00 in a report on Thursday, January 22nd. UBS Group cut their price target on shares of Wolverine World Wide from $28.00 to $26.00 and set a “buy” rating on the stock in a research note on Thursday, January 8th. Robert W. Baird reduced their price target on shares of Wolverine World Wide from $35.00 to $23.00 and set an “outperform” rating for the company in a report on Thursday, November 6th. Stifel Nicolaus set a $25.00 price objective on shares of Wolverine World Wide in a report on Thursday, November 6th. Finally, Zacks Research lowered shares of Wolverine World Wide from a “hold” rating to a “strong sell” rating in a research note on Friday, January 2nd. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Wolverine World Wide presently has an average rating of “Hold” and a consensus target price of $21.38.

Wolverine World Wide Price Performance

WWW opened at $17.62 on Friday. The stock has a market cap of $1.44 billion, a P/E ratio of 16.94 and a beta of 1.91. Wolverine World Wide has a 12 month low of $9.58 and a 12 month high of $32.80. The company has a quick ratio of 0.79, a current ratio of 1.34 and a debt-to-equity ratio of 1.40. The company has a fifty day simple moving average of $18.23 and a 200 day simple moving average of $22.44.

Wolverine World Wide Announces Dividend

The firm 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 dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, April 1st. This represents a $0.40 annualized dividend and a yield of 2.3%. Wolverine World Wide’s payout ratio is 38.46%.

Institutional Trading of Wolverine World Wide

Hedge funds and other institutional investors have recently modified their holdings of the stock. Oxbow Capital Management HK Ltd acquired a new position in Wolverine World Wide during the third quarter valued at approximately $54,431,000. Hennessy Advisors Inc. bought a new stake in shares of Wolverine World Wide during the 3rd quarter worth approximately $36,556,000. Callodine Capital Management LP boosted its holdings in shares of Wolverine World Wide by 41.0% in the 2nd quarter. Callodine Capital Management LP now owns 4,297,586 shares of the textile maker’s stock valued at $77,700,000 after buying an additional 1,250,515 shares during the last quarter. Alua Capital Management LP bought a new position in shares of Wolverine World Wide in the third quarter valued at $33,231,000. Finally, Massachusetts Financial Services Co. MA acquired a new position in Wolverine World Wide during the fourth quarter worth $21,687,000. Institutional investors and hedge funds own 90.25% of the company’s stock.

Wolverine World Wide Company Profile

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.