Wolverine World Wide (NYSE:WWW) Upgraded to “Hold” by Argus

Argus upgraded shares of Wolverine World Wide (NYSE:WWW) to a hold rating in a research report sent to investors on Friday morning, Zacks.com reports.

WWW has been the topic of several other research reports. KeyCorp raised shares of Wolverine World Wide from a sector weight rating to an overweight rating and set a $20.00 price objective on the stock in a research note on Thursday, August 8th. Robert W. Baird upped their price target on Wolverine World Wide from $13.00 to $15.00 and gave the stock a neutral rating in a research note on Thursday, August 8th. Williams Trading upgraded Wolverine World Wide from a hold rating to a buy rating and lifted their price objective for the company from $11.00 to $16.00 in a research note on Thursday, May 9th. UBS Group raised Wolverine World Wide from a neutral rating to a buy rating and boosted their target price for the stock from $13.00 to $20.00 in a report on Friday, July 19th. Finally, Seaport Res Ptn upgraded Wolverine World Wide from a neutral rating to a buy rating in a report on Monday, May 6th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Wolverine World Wide presently has a consensus rating of Hold and an average target price of $16.00.

Wolverine World Wide Trading Down 0.9 %

NYSE WWW opened at $12.99 on Friday. The firm has a market capitalization of $1.04 billion, a PE ratio of -13.97 and a beta of 1.76. The stock’s 50 day moving average is $13.33 and its 200 day moving average is $11.71. 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 0.74, a current ratio of 1.19 and a debt-to-equity ratio of 2.14.

Wolverine World Wide (NYSE:WWW) last announced its quarterly earnings data on Wednesday, August 7th. The textile maker reported $0.15 EPS for the quarter, beating the consensus estimate of $0.10 by $0.05. The business had revenue of $425.40 million during the quarter, compared to analyst estimates of $411.20 million. Wolverine World Wide had a negative return on equity of 0.34% and a negative net margin of 4.42%. The company’s revenue for the quarter was down 27.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.19 earnings per share. Research analysts forecast that Wolverine World Wide will post 0.85 earnings per share for the current fiscal year.

Wolverine World Wide Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 1st will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 3.08%. The ex-dividend date is Tuesday, October 1st. Wolverine World Wide’s dividend payout ratio is currently -43.01%.

Insider Activity at Wolverine World Wide

In other Wolverine World Wide news, insider Isabel Soriano sold 3,201 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $13.89, for a total value of $44,461.89. Following the completion of the transaction, the insider now owns 26,519 shares of the company’s stock, valued at approximately $368,348.91. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.28% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Wolverine World Wide

A number of hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC bought a new stake in Wolverine World Wide during the fourth quarter valued at approximately $26,000. Canada Pension Plan Investment Board bought a new stake in shares of Wolverine World Wide during the 2nd quarter valued at $68,000. Central Pacific Bank Trust Division purchased a new stake in shares of Wolverine World Wide in the 1st quarter worth $81,000. Natixis bought a new position in Wolverine World Wide in the 1st quarter worth $112,000. Finally, Oxford Asset Management LLP purchased a new position in Wolverine World Wide during the fourth quarter valued at $124,000. 90.25% of the stock is currently owned by hedge funds and other institutional investors.

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.