Robert W. Baird Raises Wolverine World Wide (NYSE:WWW) Price Target to $15.00

Wolverine World Wide (NYSE:WWW) had its price target raised by Robert W. Baird from $13.00 to $15.00 in a research note published on Thursday, Benzinga reports. Robert W. Baird currently has a neutral rating on the textile maker’s stock.

WWW has been the subject of several other reports. UBS Group upgraded shares of Wolverine World Wide from a neutral rating to a buy rating and raised their target price for the company from $13.00 to $20.00 in a research note on Friday, July 19th. KeyCorp upgraded shares of Wolverine World Wide from a sector weight rating to an overweight rating and set a $20.00 price objective for the company in a research note on Thursday. Seaport Res Ptn upgraded shares of Wolverine World Wide from a neutral rating to a buy rating in a research note on Monday, May 6th. Telsey Advisory Group reiterated a market perform rating and set a $14.00 price objective on shares of Wolverine World Wide in a research note on Wednesday, August 7th. Finally, Williams Trading upgraded shares of Wolverine World Wide from a hold rating to a buy rating and lifted their price objective for the stock from $11.00 to $16.00 in a research note on Thursday, May 9th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $16.00.

Wolverine World Wide Price Performance

Shares of WWW opened at $12.59 on Thursday. The company has a market cap of $1.01 billion, a price-to-earnings ratio of -13.54 and a beta of 1.76. Wolverine World Wide has a twelve month low of $7.21 and a twelve month high of $15.23. The company has a quick ratio of 0.65, a current ratio of 1.13 and a debt-to-equity ratio of 2.24. The company has a 50 day moving average of $13.38 and a two-hundred day moving average of $11.51.

Wolverine World Wide (NYSE:WWW) last announced its earnings results on Wednesday, August 7th. The textile maker reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.05. The company had revenue of $425.40 million during the quarter, compared to the consensus estimate of $411.20 million. Wolverine World Wide had a negative net margin of 3.59% and a positive return on equity of 0.53%. Wolverine World Wide’s revenue was down 27.8% compared to the same quarter last year. During the same period last year, the firm earned $0.19 earnings per share. As a group, analysts predict that Wolverine World Wide will post 0.82 earnings per share for the current fiscal year.

Wolverine World Wide Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 1st will be issued a dividend of $0.10 per share. The ex-dividend date is Tuesday, October 1st. This represents a $0.40 annualized dividend and a dividend yield of 3.18%. Wolverine World Wide’s dividend payout ratio (DPR) is presently -43.01%.

Insider Buying and Selling

In related news, insider Isabel Soriano sold 3,201 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $13.89, for a total transaction of $44,461.89. Following the completion of the transaction, the insider now owns 26,519 shares of the company’s stock, valued at $368,348.91. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.28% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its holdings in shares of Wolverine World Wide by 6.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,771,991 shares of the textile maker’s stock worth $15,753,000 after purchasing an additional 103,368 shares during the last quarter. Capstone Investment Advisors LLC purchased a new position in Wolverine World Wide in the first quarter valued at $1,089,000. Intrinsic Edge Capital Management LLC purchased a new position in Wolverine World Wide in the fourth quarter valued at $2,563,000. SG Americas Securities LLC purchased a new position in Wolverine World Wide in the fourth quarter valued at $172,000. Finally, BNP Paribas Financial Markets increased its holdings in Wolverine World Wide by 52.8% in the first quarter. BNP Paribas Financial Markets now owns 65,242 shares of the textile maker’s stock valued at $731,000 after buying an additional 22,532 shares in the last quarter. Hedge funds and other institutional investors own 90.25% of the company’s stock.

Wolverine World Wide Company Profile

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.