Wolverine World Wide’s (WWW) “Hold” Rating Reiterated at Piper Jaffray Companies

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Piper Jaffray Companies reaffirmed their hold rating on shares of Wolverine World Wide (NYSE:WWW) in a report released on Thursday. The firm currently has a $35.00 target price on the textile maker’s stock. Piper Jaffray Companies also issued estimates for Wolverine World Wide’s Q3 2018 earnings at $0.53 EPS, FY2018 earnings at $2.15 EPS, Q3 2019 earnings at $0.59 EPS and FY2019 earnings at $2.35 EPS.

WWW has been the topic of several other research reports. Zacks Investment Research upgraded shares of Wolverine World Wide from a sell rating to a hold rating in a research note on Saturday, May 12th. TheStreet upgraded shares of Wolverine World Wide from a c rating to a b- rating in a research note on Thursday, May 10th. DA Davidson reiterated a buy rating on shares of Wolverine World Wide in a research note on Wednesday, May 9th. ValuEngine upgraded shares of Wolverine World Wide from a hold rating to a buy rating in a research note on Thursday, July 19th. Finally, Pivotal Research set a $33.00 price target on shares of Wolverine World Wide and gave the company a hold rating in a research note on Wednesday, May 2nd. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $37.27.

WWW opened at $37.54 on Thursday. The stock has a market cap of $3.58 billion, a P/E ratio of 22.89, a price-to-earnings-growth ratio of 1.77 and a beta of 0.98. Wolverine World Wide has a fifty-two week low of $25.25 and a fifty-two week high of $37.92. The company has a current ratio of 2.65, a quick ratio of 2.13 and a debt-to-equity ratio of 0.61.

Wolverine World Wide (NYSE:WWW) last released its quarterly earnings data on Wednesday, August 8th. The textile maker reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.08. The firm had revenue of $566.90 million for the quarter, compared to analyst estimates of $569.24 million. Wolverine World Wide had a net margin of 2.83% and a return on equity of 18.58%. Wolverine World Wide’s quarterly revenue was down 5.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.43 earnings per share. sell-side analysts predict that Wolverine World Wide will post 2.13 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 1st. Shareholders of record on Monday, October 1st will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, September 28th. This represents a $0.32 annualized dividend and a dividend yield of 0.85%. Wolverine World Wide’s payout ratio is currently 19.51%.

In other Wolverine World Wide news, CFO Michael D. Stornant sold 38,010 shares of the firm’s stock in a transaction that occurred on Friday, May 18th. The shares were sold at an average price of $32.38, for a total value of $1,230,763.80. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 5.81% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in the business. BlackRock Inc. increased its stake in shares of Wolverine World Wide by 5.3% in the second quarter. BlackRock Inc. now owns 13,103,559 shares of the textile maker’s stock valued at $455,613,000 after purchasing an additional 664,587 shares during the period. Victory Capital Management Inc. increased its stake in shares of Wolverine World Wide by 1.4% during the first quarter. Victory Capital Management Inc. now owns 3,235,801 shares of the textile maker’s stock valued at $93,515,000 after acquiring an additional 45,150 shares during the period. Earnest Partners LLC increased its stake in shares of Wolverine World Wide by 71.6% during the first quarter. Earnest Partners LLC now owns 2,605,580 shares of the textile maker’s stock valued at $75,301,000 after acquiring an additional 1,086,854 shares during the period. Royce & Associates LP increased its stake in shares of Wolverine World Wide by 5.0% during the second quarter. Royce & Associates LP now owns 1,245,486 shares of the textile maker’s stock valued at $43,306,000 after acquiring an additional 58,790 shares during the period. Finally, Marathon Asset Management LLP increased its stake in shares of Wolverine World Wide by 0.3% during the second quarter. Marathon Asset Management LLP now owns 822,230 shares of the textile maker’s stock valued at $28,641,000 after acquiring an additional 2,435 shares during the period. Institutional investors own 96.10% 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. The company operates through four segments: Wolverine Outdoor & Lifestyle Group, Wolverine Boston Group, Wolverine Heritage Group, and Wolverine Multi-Brand Group. It offers casual footwear and apparel; performance outdoor and athletic footwear and apparel; children's footwear; industrial work boots and apparel; and uniform shoes and boots.

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Analyst Recommendations for Wolverine World Wide (NYSE:WWW)

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