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

Telsey Advisory Group reissued their market perform rating on shares of Wolverine World Wide (NYSE:WWW) in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a $23.00 target price on the textile maker’s stock.

Other analysts have also issued research reports about the company. StockNews.com lowered Wolverine World Wide from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th. Stifel Nicolaus upgraded Wolverine World Wide from a “hold” rating to a “buy” rating and increased their target price for the stock from $21.00 to $29.00 in a research note on Wednesday, December 11th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $21.50.

Wolverine World Wide Stock Performance

NYSE:WWW opened at $15.16 on Wednesday. The stock’s fifty day moving average is $21.88 and its 200 day moving average is $18.78. Wolverine World Wide has a fifty-two week low of $9.06 and a fifty-two week high of $24.64. The firm has a market capitalization of $1.21 billion, a PE ratio of 27.55 and a beta of 1.88. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.77 and a current ratio of 1.29.

Wolverine World Wide (NYSE:WWW) last released its earnings results on Wednesday, February 19th. The textile maker reported $0.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.42. Wolverine World Wide had a return on equity of 26.81% and a net margin of 2.73%. The business had revenue of $494.70 million for the quarter, compared to analyst estimates of $485.74 million. During the same quarter last year, the firm posted ($0.30) earnings per share. The business’s revenue was down 6.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Wolverine World Wide will post 1.13 earnings per share for the current year.

Wolverine World Wide Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 1st will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date of this dividend is Tuesday, April 1st. Wolverine World Wide’s payout ratio is currently 72.73%.

Insider Activity at Wolverine World Wide

In related news, insider Isabel Soriano sold 7,687 shares of Wolverine World Wide stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $23.57, for a total transaction of $181,182.59. Following the completion of the sale, the insider now owns 34,206 shares of the company’s stock, valued at $806,235.42. The trade was a 18.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.28% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Wolverine World Wide

Institutional investors and hedge funds have recently modified their holdings of the company. Pacer Advisors Inc. purchased a new position in Wolverine World Wide during the fourth quarter valued at approximately $64,943,000. JPMorgan Chase & Co. boosted its stake in shares of Wolverine World Wide by 1,263.0% in the third quarter. JPMorgan Chase & Co. now owns 1,426,942 shares of the textile maker’s stock worth $24,857,000 after acquiring an additional 1,322,254 shares during the last quarter. Jennison Associates LLC acquired a new position in Wolverine World Wide during the third quarter worth $10,974,000. Capital Research Global Investors purchased a new stake in shares of Wolverine World Wide in the 4th quarter valued at $13,943,000. Finally, Nuveen Asset Management LLC raised its holdings in shares of Wolverine World Wide by 179.1% in the 4th quarter. Nuveen Asset Management LLC now owns 628,338 shares of the textile maker’s stock valued at $13,949,000 after buying an additional 403,176 shares during the period. Institutional investors and hedge funds 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.