Wolverine World Wide (WWW) – Analysts’ Weekly Ratings Updates

Wolverine World Wide (NYSE: WWW) has recently received a number of price target changes and ratings updates:

  • 11/8/2018 – Wolverine World Wide had its price target lowered by analysts at Robert W. Baird from $43.00 to $40.00. They now have an “outperform” rating on the stock.
  • 11/8/2018 – Wolverine World Wide had its price target lowered by analysts at Telsey Advisory Group from $39.00 to $35.00. They now have a “market perform” rating on the stock.
  • 11/8/2018 – Wolverine World Wide was given a new $38.00 price target on by analysts at Piper Jaffray Companies. They now have a “hold” rating on the stock.
  • 11/7/2018 – Wolverine World Wide was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 11/5/2018 – Wolverine World Wide had its “hold” rating reaffirmed by analysts at Pivotal Research. They now have a $37.00 price target on the stock. They wrote, “We calculate that the $0.06 beat was due to a lower-than-expected tax rate.””
  • 10/31/2018 – Wolverine World Wide was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 10/17/2018 – Wolverine World Wide was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Wolverine’s shares have surpassed the industry in the past six months, buoyed by robust earnings trend. Markedly, during second-quarter 2018, the company’s earnings surpassed the consensus mark and surged from the prior-year quarter’s level, owing to improved gross and operating margins. Incidentally, the continued strength in bottom-line performance propelled management to raise earnings view for 2018. Further, the company has also been progressing well with its GLOBAL GROWTH AGENDA, which focuses on empowering brands through innovation, implementing advanced digital tools and expanding into new markets. Despite such efforts, the company’s top line has been dismal since the past four quarters, due to change in quarterly calendars, negative impacts of store closures and portfolio changes. Moreover, the company is exposed to significant currency risks stemming from international markets.”
  • 10/4/2018 – Wolverine World Wide was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.

NYSE:WWW opened at $32.50 on Tuesday. The company has a current ratio of 2.65, a quick ratio of 1.75 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $3.15 billion, a P/E ratio of 19.82, a PEG ratio of 1.54 and a beta of 1.11. Wolverine World Wide, Inc. has a 12 month low of $27.75 and a 12 month high of $39.77.

Wolverine World Wide (NYSE:WWW) last posted its earnings results on Wednesday, November 7th. The textile maker reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.06. The company had revenue of $558.60 million for the quarter, compared to the consensus estimate of $584.25 million. Wolverine World Wide had a return on equity of 20.26% and a net margin of 4.45%. The firm’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.43 earnings per share. On average, equities research analysts anticipate that Wolverine World Wide, Inc. will post 2.15 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, February 1st. Investors of record on Wednesday, January 2nd will be given a $0.08 dividend. The ex-dividend date is Monday, December 31st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.98%. Wolverine World Wide’s dividend payout ratio is currently 19.51%.

In other Wolverine World Wide news, VP Amy M. Klimek sold 11,628 shares of the company’s stock in a transaction that occurred on Friday, November 9th. The stock was sold at an average price of $33.19, for a total transaction of $385,933.32. Following the sale, the vice president now directly owns 47,086 shares in the company, valued at $1,562,784.34. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Richard Woodworth sold 19,376 shares of the company’s stock in a transaction that occurred on Friday, August 31st. The shares were sold at an average price of $38.73, for a total value of $750,432.48. Following the sale, the insider now owns 123,040 shares in the company, valued at $4,765,339.20. The disclosure for this sale can be found here. Corporate insiders own 5.81% of the company’s stock.

A number of hedge funds have recently modified their holdings of WWW. Acadian Asset Management LLC bought a new position in shares of Wolverine World Wide during the third quarter valued at approximately $110,000. Tower Research Capital LLC TRC grew its stake in shares of Wolverine World Wide by 110.7% during the third quarter. Tower Research Capital LLC TRC now owns 5,148 shares of the textile maker’s stock valued at $201,000 after buying an additional 2,705 shares during the last quarter. Raymond James & Associates bought a new position in shares of Wolverine World Wide during the second quarter valued at approximately $205,000. Robeco Institutional Asset Management B.V. bought a new position in shares of Wolverine World Wide during the second quarter valued at approximately $224,000. Finally, Papp L Roy & Associates bought a new position in shares of Wolverine World Wide during the second quarter valued at approximately $226,000. Institutional investors and hedge funds own 92.43% of the company’s stock.

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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