Wolverine World Wide, Inc. (NYSE:WWW) Given Average Rating of “Hold” by Brokerages

Shares of Wolverine World Wide, Inc. (NYSE:WWW) have earned a consensus rating of “Hold” from the eleven research firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating on the company. The average 1 year target price among analysts that have covered the stock in the last year is $21.1111.

A number of equities research analysts have recently weighed in on WWW shares. Argus reaffirmed a “hold” rating on shares of Wolverine World Wide in a research note on Friday, January 23rd. Stifel Nicolaus set a $25.00 price objective on shares of Wolverine World Wide in a research report on Thursday, November 6th. Telsey Advisory Group reissued a “market perform” rating and issued a $18.00 target price (down from $29.00) on shares of Wolverine World Wide in a research report on Wednesday, November 5th. BNP Paribas Exane set a $19.00 price target on shares of Wolverine World Wide and gave the stock a “neutral” rating in a research note on Thursday, January 22nd. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Wolverine World Wide in a research note on Monday, December 29th.

Insiders Place Their Bets

In related news, Director Demonty Price purchased 25,000 shares of the firm’s stock in a transaction dated Friday, November 7th. The stock was bought at an average price of $15.77 per share, for a total transaction of $394,250.00. Following the purchase, the director owned 75,000 shares in the company, valued at $1,182,750. The trade was a 50.00% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jack Boyle acquired 6,250 shares of the stock in a transaction dated Friday, November 7th. The shares were bought at an average cost of $15.77 per share, for a total transaction of $98,562.50. Following the acquisition, the director owned 6,250 shares in the company, valued at $98,562.50. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased 33,250 shares of company stock valued at $524,573 over the last quarter. Insiders own 2.28% of the company’s stock.

Hedge Funds Weigh In On Wolverine World Wide

A number of institutional investors have recently modified their holdings of WWW. SRS Investment Management LLC acquired a new position in Wolverine World Wide during the 2nd quarter worth $3,754,000. Campbell & CO Investment Adviser LLC bought a new position in shares of Wolverine World Wide in the third quarter worth about $4,143,000. Federated Hermes Inc. increased its stake in shares of Wolverine World Wide by 23.6% in the second quarter. Federated Hermes Inc. now owns 942,642 shares of the textile maker’s stock worth $17,043,000 after purchasing an additional 180,184 shares during the period. WCM Investment Management LLC lifted its position in shares of Wolverine World Wide by 78.2% during the 3rd quarter. WCM Investment Management LLC now owns 1,008,395 shares of the textile maker’s stock worth $27,499,000 after purchasing an additional 442,649 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in Wolverine World Wide during the 3rd quarter valued at approximately $1,533,000. Institutional investors own 90.25% of the company’s stock.

Wolverine World Wide Stock Up 3.1%

WWW stock opened at $18.14 on Thursday. The company has a 50 day moving average of $18.06 and a two-hundred day moving average of $22.71. The company has a market cap of $1.49 billion, a price-to-earnings ratio of 17.44 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.

Wolverine World Wide (NYSE:WWW) last posted its quarterly earnings results on Wednesday, November 5th. The textile maker reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03. Wolverine World Wide had a net margin of 4.73% and a return on equity of 31.43%. The business had revenue of $470.30 million for the quarter, compared to the consensus estimate of $461.46 million. During the same period in the prior year, the business posted $0.28 earnings per share. Wolverine World Wide’s revenue for the quarter was up 6.8% compared to the same quarter last year. On average, equities analysts anticipate that Wolverine World Wide will post 1.23 earnings per share for the current fiscal year.

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.