Wolverine World Wide, Inc. (NYSE:WWW) Given Average Recommendation of “Reduce” by Analysts

Wolverine World Wide, Inc. (NYSE:WWW) has been assigned an average recommendation of “Reduce” from the seven research firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $10.63.

Separately, Telsey Advisory Group reissued a “market perform” rating and issued a $10.00 target price on shares of Wolverine World Wide in a report on Wednesday, February 21st.

Wolverine World Wide Price Performance

Shares of WWW opened at $10.48 on Friday. The firm has a market capitalization of $837.46 million, a PE ratio of -20.55 and a beta of 1.75. The company’s 50-day moving average is $9.99 and its 200-day moving average is $9.06. Wolverine World Wide has a fifty-two week low of $7.21 and a fifty-two week high of $17.85. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.18 and a quick ratio of 0.75.

Wolverine World Wide (NYSE:WWW) last released its quarterly earnings results on Wednesday, February 21st. The textile maker reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.03). Wolverine World Wide had a positive return on equity of 1.45% and a negative net margin of 1.77%. The business had revenue of $526.70 million for the quarter, compared to the consensus estimate of $520.12 million. During the same period in the prior year, the business posted ($0.15) earnings per share. Wolverine World Wide’s revenue was down 20.8% compared to the same quarter last year. Equities analysts forecast that Wolverine World Wide will post 0.77 EPS for the current year.

Wolverine World Wide Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 1st will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $0.40 dividend on an annualized basis and a yield of 3.82%. Wolverine World Wide’s dividend payout ratio (DPR) is presently -78.43%.

Hedge Funds Weigh In On Wolverine World Wide

A number of hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in shares of Wolverine World Wide by 42.5% in the 1st quarter. GAMMA Investing LLC now owns 4,504 shares of the textile maker’s stock worth $50,000 after buying an additional 1,343 shares during the last quarter. Swiss National Bank boosted its holdings in shares of Wolverine World Wide by 1.0% in the 3rd quarter. Swiss National Bank now owns 174,600 shares of the textile maker’s stock worth $1,407,000 after buying an additional 1,700 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Wolverine World Wide by 15.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,873 shares of the textile maker’s stock worth $159,000 after buying an additional 2,390 shares during the last quarter. J.W. Cole Advisors Inc. boosted its holdings in shares of Wolverine World Wide by 17.4% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 20,651 shares of the textile maker’s stock worth $166,000 after buying an additional 3,060 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of Wolverine World Wide by 11.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 48,730 shares of the textile maker’s stock worth $393,000 after buying an additional 4,880 shares during the last quarter. 90.25% of the stock is owned by hedge funds and other institutional investors.

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.