Wolverine World Wide (NYSE:WWW) Price Target Lowered to $26.00 at UBS Group

Wolverine World Wide (NYSE:WWW) had its price target cut by UBS Group from $29.00 to $26.00 in a research note published on Thursday morning,Benzinga reports. They currently have a buy rating on the textile maker’s stock.

Several other equities analysts also recently issued reports on the stock. StockNews.com downgraded shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th. Stifel Nicolaus raised Wolverine World Wide from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $21.00 to $29.00 in a research note on Wednesday, December 11th. Robert W. Baird reduced their price target on shares of Wolverine World Wide from $21.00 to $18.00 and set a “neutral” rating on the stock in a research report on Thursday. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $23.00 price target on shares of Wolverine World Wide in a research note on Wednesday. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $21.50.

Wolverine World Wide Stock Performance

Shares of WWW opened at $15.18 on Thursday. The company has a 50-day moving average of $21.88 and a two-hundred day moving average of $18.78. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.29 and a quick ratio of 0.77. Wolverine World Wide has a one year low of $8.25 and a one year high of $24.64. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of 27.60 and a beta of 1.88.

Wolverine World Wide (NYSE:WWW) last announced its quarterly 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. The company had revenue of $494.70 million during the quarter, compared to analysts’ expectations of $485.74 million. Wolverine World Wide had a return on equity of 26.81% and a net margin of 2.73%. The business’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.30) earnings per share. On average, equities research analysts expect that Wolverine World Wide will post 1.13 earnings per share for the current year.

Wolverine World Wide Announces Dividend

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

Insider Buying and Selling

In other news, insider Isabel Soriano sold 7,687 shares of Wolverine World Wide stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $23.57, for a total value of $181,182.59. Following the completion of the transaction, the insider now owns 34,206 shares in the company, valued at $806,235.42. This trade represents a 18.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.28% of the stock is currently owned by corporate insiders.

Institutional Trading of Wolverine World Wide

Institutional investors and hedge funds have recently bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new position in Wolverine World Wide in the 4th quarter worth $25,000. Signaturefd LLC boosted its holdings in shares of Wolverine World Wide by 88.8% during the 4th quarter. Signaturefd LLC now owns 1,450 shares of the textile maker’s stock valued at $32,000 after buying an additional 682 shares in the last quarter. Natixis purchased a new stake in Wolverine World Wide in the fourth quarter worth about $41,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Wolverine World Wide during the 4th quarter valued at approximately $64,000. Finally, KBC Group NV raised its position in shares of Wolverine World Wide by 43.8% in the 4th quarter. KBC Group NV now owns 4,303 shares of the textile maker’s stock worth $96,000 after purchasing an additional 1,311 shares during the last quarter. 90.25% of the stock is currently owned by hedge funds and other 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.