Wolverine World Wide (WWW) Cut to Hold at ValuEngine

ValuEngine cut shares of Wolverine World Wide (NYSE:WWW) from a buy rating to a hold rating in a research report report published on Thursday morning.

A number of other research analysts have also weighed in on the company. Citigroup lifted their target price on Wolverine World Wide from $34.00 to $40.00 and gave the company a neutral rating in a report on Thursday, August 30th. Argus lifted their target price on Wolverine World Wide from $40.00 to $44.00 and gave the company a buy rating in a report on Friday, August 17th. Buckingham Research lifted their target price on Wolverine World Wide from $34.00 to $38.00 and gave the company a neutral rating in a report on Thursday, August 16th. Zacks Investment Research raised Wolverine World Wide from a hold rating to a buy rating and set a $41.00 target price for the company in a report on Friday, August 10th. Finally, Robert W. Baird reaffirmed a buy rating and set a $43.00 target price on shares of Wolverine World Wide in a report on Friday, August 10th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $39.75.

WWW stock opened at $35.97 on Thursday. The company has a quick ratio of 1.86, a current ratio of 2.65 and a debt-to-equity ratio of 0.61. The stock has a market cap of $3.71 billion, a price-to-earnings ratio of 21.93, a P/E/G ratio of 1.83 and a beta of 1.02. Wolverine World Wide has a twelve month low of $25.25 and a twelve month high of $39.77.

Wolverine World Wide (NYSE:WWW) last posted its earnings results on Wednesday, August 8th. The textile maker reported $0.54 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.08. The business had revenue of $566.90 million during the quarter, compared to analyst estimates of $569.24 million. Wolverine World Wide had a return on equity of 18.58% and a net margin of 2.83%. The company’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.43 EPS. Sell-side analysts expect that Wolverine World Wide will post 2.14 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 1st. Stockholders of record on Monday, October 1st will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend is Friday, September 28th. Wolverine World Wide’s payout ratio is 19.51%.

In other news, insider Michael Jeppesen sold 49,151 shares of the business’s stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $37.77, for a total transaction of $1,856,433.27. Following the completion of the transaction, the insider now owns 156,470 shares of the company’s stock, valued at $5,909,871.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William K. Gerber sold 1,000 shares of the business’s stock in a transaction dated Friday, August 10th. The stock was sold at an average price of $37.17, for a total value of $37,170.00. The disclosure for this sale can be found here. Insiders have sold 69,527 shares of company stock valued at $2,644,036 in the last three months. 5.81% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of WWW. Point72 Asia Hong Kong Ltd grew its holdings in shares of Wolverine World Wide by 442.2% during the first quarter. Point72 Asia Hong Kong Ltd now owns 5,509 shares of the textile maker’s stock worth $159,000 after purchasing an additional 4,493 shares in the last quarter. Raymond James & Associates purchased a new stake in Wolverine World Wide in the second quarter worth approximately $205,000. A.R.T. Advisors LLC purchased a new stake in Wolverine World Wide in the first quarter worth approximately $219,000. Cape Cod Five Cents Savings Bank purchased a new stake in Wolverine World Wide in the second quarter worth approximately $220,000. Finally, Robeco Institutional Asset Management B.V. purchased a new stake in Wolverine World Wide in the second quarter worth approximately $224,000. 92.75% of the stock is owned by institutional investors.

About Wolverine World Wide

Wolverine World Wide, Inc designs, manufactures, sources, markets, licenses, and distributes footwear, apparel, and accessories. The company operates through four segments: Wolverine Outdoor & Lifestyle Group, Wolverine Boston Group, Wolverine Heritage Group, and Wolverine Multi-Brand Group. It offers casual footwear and apparel; performance outdoor and athletic footwear and apparel; children's footwear; industrial work boots and apparel; and uniform shoes and boots.

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Analyst Recommendations for Wolverine World Wide (NYSE:WWW)

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