Wolverine World Wide, Inc. (NYSE:WWW) Given Average Recommendation of “Hold” by Brokerages

Posted by Defense World Staff on Jun 6th, 2023

Shares of Wolverine World Wide, Inc. (NYSE:WWW – Get Rating) have received a consensus rating of “Hold” from the twelve research firms that are covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $16.50.

A number of brokerages recently commented on WWW. Robert W. Baird increased their price target on Wolverine World Wide from $13.00 to $15.00 in a research note on Thursday, May 11th. Stifel Nicolaus increased their price target on Wolverine World Wide from $15.00 to $18.00 in a report on Thursday, May 11th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $14.00 target price on shares of Wolverine World Wide in a research report on Wednesday, February 22nd. Seaport Res Ptn upgraded Wolverine World Wide from a “neutral” rating to a “buy” rating in a research note on Monday, March 13th. Finally, StockNews.com upgraded Wolverine World Wide from a “sell” rating to a “hold” rating in a research note on Thursday, May 11th.

Institutional Trading of Wolverine World Wide

Several hedge funds and other institutional investors have recently bought and sold shares of the company. MQS Management LLC acquired a new position in Wolverine World Wide in the 3rd quarter worth $337,000. Brookstone Capital Management lifted its position in shares of Wolverine World Wide by 14.8% in the 4th quarter. Brookstone Capital Management now owns 11,668 shares of the textile maker’s stock valued at $127,000 after acquiring an additional 1,500 shares in the last quarter. Versor Investments LP purchased a new stake in shares of Wolverine World Wide in the 4th quarter valued at approximately $263,000. Gladius Capital Management LP purchased a new stake in shares of Wolverine World Wide in the 4th quarter valued at approximately $37,000. Finally, Eagle Bay Advisors LLC lifted its position in Wolverine World Wide by 141.3% in the 4th quarter. Eagle Bay Advisors LLC now owns 2,790 shares of the textile maker’s stock worth $30,000 after buying an additional 1,634 shares in the last quarter. 97.08% of the stock is owned by hedge funds and other institutional investors.

Wolverine World Wide Trading Down 3.1 %

Wolverine World Wide stock opened at $13.69 on Tuesday. Wolverine World Wide has a 12 month low of $9.60 and a 12 month high of $24.08. The business’s fifty day simple moving average is $15.70 and its two-hundred day simple moving average is $14.33. The company has a current ratio of 1.16, a quick ratio of 0.46 and a debt-to-equity ratio of 2.09. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of -5.82 and a beta of 1.66.

Wolverine World Wide Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 1st. Stockholders of record on Monday, July 3rd will be given a dividend of $0.10 per share. The ex-dividend date is Friday, June 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.92%. Wolverine World Wide’s payout ratio is -17.02%.

Wolverine World Wide Company Profile

(Get Rating)

Wolverine World Wide, Inc engages in the design, manufacture, and sale of branded casual, active lifestyle, work, outdoor sport, athletic, uniform, footwear, and apparel. It operates through the following segments: Wolverine Michigan Group and Wolverine Boston Group. The Wolverine Michigan Group consists of Merrell, Cat, Chaco, Hush Puppies, Bates uniform, Harley-Davidson and Hytest safety footwear and apparel.