Wolverine World Wide’s (WWW) “Market Perform” Rating Reaffirmed at Telsey Advisory Group

Telsey Advisory Group reiterated their market perform rating on shares of Wolverine World Wide (NYSE:WWW) in a research report sent to investors on Wednesday morning, Marketbeat.com reports. They currently have a $10.00 target price on the textile maker’s stock.

Separately, Seaport Res Ptn upgraded Wolverine World Wide from a neutral rating to a buy rating in a research note on Monday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Wolverine World Wide has a consensus rating of Hold and a consensus target price of $10.38.

Wolverine World Wide Stock Up 1.2 %

NYSE WWW traded up $0.15 on Wednesday, reaching $12.89. The stock had a trading volume of 349,737 shares, compared to its average volume of 883,353. The business has a 50 day moving average price of $10.26 and a 200 day moving average price of $9.27. The company has a current ratio of 1.18, a quick ratio of 0.75 and a debt-to-equity ratio of 2.02. Wolverine World Wide has a 1 year low of $7.21 and a 1 year high of $17.85. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of -24.96 and a beta of 1.73.

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

Wolverine World Wide Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Monday, July 1st will be given a $0.10 dividend. The ex-dividend date is Monday, July 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.10%. Wolverine World Wide’s dividend payout ratio is currently -78.43%.

Institutional Trading of Wolverine World Wide

A number of hedge funds have recently modified their holdings of WWW. Strs Ohio bought a new stake in shares of Wolverine World Wide in the 3rd quarter worth approximately $585,000. Nisa Investment Advisors LLC lifted its position in shares of Wolverine World Wide by 11.1% during 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 period. Jump Financial LLC lifted its position in shares of Wolverine World Wide by 30.0% during the 3rd quarter. Jump Financial LLC now owns 32,441 shares of the textile maker’s stock worth $261,000 after buying an additional 7,483 shares during the period. Fox Run Management L.L.C. bought a new position in shares of Wolverine World Wide during the 3rd quarter worth approximately $164,000. Finally, Swiss National Bank lifted its position in shares of Wolverine World Wide by 1.0% during 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 period. Institutional investors own 90.25% of the company’s stock.

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.