Wolverine World Wide (NYSE:WWW) Given “Market Perform” Rating at Telsey Advisory Group

Telsey Advisory Group reissued their market perform rating on shares of Wolverine World Wide (NYSE:WWW) in a research note published on Thursday morning, Benzinga reports. Telsey Advisory Group currently has a $14.00 price objective on the textile maker’s stock.

Other analysts also recently issued reports about the company. UBS Group upgraded Wolverine World Wide from a neutral rating to a buy rating and lifted their target price for the stock from $13.00 to $20.00 in a research report on Friday, July 19th. Williams Trading upgraded Wolverine World Wide from a hold rating to a buy rating and lifted their target price for the stock from $11.00 to $16.00 in a research report on Thursday, May 9th. Robert W. Baird lifted their target price on Wolverine World Wide from $9.00 to $13.00 and gave the stock a neutral rating in a research report on Thursday, May 9th. Finally, Seaport Res Ptn upgraded Wolverine World Wide from a neutral rating to a buy rating in a research report on Monday, May 6th. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $12.89.

Wolverine World Wide Price Performance

WWW traded down $0.65 during trading on Thursday, reaching $13.50. 148,528 shares of the company traded hands, compared to its average volume of 1,006,517. The firm has a fifty day simple moving average of $13.43 and a 200 day simple moving average of $11.29. Wolverine World Wide has a 12-month low of $7.21 and a 12-month high of $15.23. The company has a debt-to-equity ratio of 2.24, a quick ratio of 0.65 and a current ratio of 1.13. The company has a market cap of $1.08 billion, a P/E ratio of -15.23 and a beta of 1.76.

Wolverine World Wide (NYSE:WWW) last posted its earnings results on Wednesday, May 8th. The textile maker reported $0.05 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.05. The firm had revenue of $394.90 million during the quarter, compared to analyst estimates of $360.31 million. Wolverine World Wide had a negative net margin of 3.59% and a positive return on equity of 0.53%. On average, equities analysts forecast that Wolverine World Wide will post 0.82 EPS for the current year.

Wolverine World Wide Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 1st will be issued a $0.10 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $0.40 annualized dividend and a dividend yield of 2.96%. Wolverine World Wide’s payout ratio is currently -43.01%.

Insiders Place Their Bets

In other Wolverine World Wide news, insider Isabel Soriano sold 3,201 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $13.89, for a total value of $44,461.89. Following the completion of the transaction, the insider now directly owns 26,519 shares in the company, valued at $368,348.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.28% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Wolverine World Wide

Large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC purchased a new stake in shares of Wolverine World Wide during the fourth quarter worth about $26,000. Central Pacific Bank Trust Division purchased a new stake in shares of Wolverine World Wide during the first quarter worth about $81,000. Natixis purchased a new stake in shares of Wolverine World Wide during the first quarter worth about $112,000. Oxford Asset Management LLP purchased a new stake in shares of Wolverine World Wide during the fourth quarter worth about $124,000. Finally, Connable Office Inc. purchased a new stake in shares of Wolverine World Wide during the fourth quarter worth about $137,000. 90.25% of the stock is currently owned by institutional investors.

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.