Wolverine World Wide, Inc. (NYSE:WWW) Receives Consensus Rating of “Reduce” from Analysts

Wolverine World Wide, Inc. (NYSE:WWW) has been assigned a consensus recommendation of “Reduce” from the seven ratings firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation and six have assigned a hold recommendation to the company. The average 1-year price objective among brokerages 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 set a $10.00 target price on shares of Wolverine World Wide in a research note on Wednesday, February 21st.

Hedge Funds Weigh In On Wolverine World Wide

A number of institutional investors have recently modified their holdings of WWW. Callodine Capital Management LP purchased a new stake in Wolverine World Wide in the 3rd quarter valued at $8,060,000. Intrinsic Edge Capital Management LLC purchased a new stake in shares of Wolverine World Wide during the 4th quarter valued at $2,563,000. Charles Schwab Investment Management Inc. increased its position in shares of Wolverine World Wide by 18.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,668,623 shares of the textile maker’s stock valued at $13,449,000 after purchasing an additional 255,872 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its position in shares of Wolverine World Wide by 13.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,446,579 shares of the textile maker’s stock valued at $11,659,000 after purchasing an additional 175,039 shares during the last quarter. Finally, Wolverine Asset Management LLC increased its position in shares of Wolverine World Wide by 493.5% during the 3rd quarter. Wolverine Asset Management LLC now owns 193,757 shares of the textile maker’s stock valued at $1,562,000 after purchasing an additional 161,109 shares during the last quarter. 90.25% of the stock is owned by institutional investors and hedge funds.

Wolverine World Wide Stock Performance

Shares of NYSE:WWW opened at $10.48 on Friday. The company has a market capitalization of $837.46 million, a price-to-earnings ratio of -20.55 and a beta of 1.75. The firm’s 50 day simple moving average is $9.99 and its 200 day simple moving average is $9.06. 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 has a fifty-two week low of $7.21 and a fifty-two week high of $17.85.

Wolverine World Wide (NYSE:WWW) last announced its earnings results on Wednesday, February 21st. The textile maker reported ($0.30) EPS for the quarter, missing the consensus estimate 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 company had revenue of $526.70 million for the quarter, compared to analyst estimates of $520.12 million. During the same quarter last year, the business posted ($0.15) earnings per share. The business’s quarterly revenue was down 20.8% on a year-over-year basis. As a group, sell-side analysts forecast that Wolverine World Wide will post 0.77 earnings per share for the current year.

Wolverine World Wide Dividend Announcement

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 issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date is Thursday, March 28th. Wolverine World Wide’s payout ratio is -78.43%.

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.