Robert W. Baird Lowers Wolverine World Wide (NYSE:WWW) Price Target to $18.00

Wolverine World Wide (NYSE:WWW) had its target price trimmed by Robert W. Baird from $21.00 to $18.00 in a research report sent to investors on Thursday morning,Benzinga reports. The brokerage currently has a neutral rating on the textile maker’s stock.

Other analysts also recently issued reports about the stock. StockNews.com downgraded shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th. Stifel Nicolaus raised shares of Wolverine World Wide from a “hold” rating to a “buy” rating and increased their price objective for the company from $21.00 to $29.00 in a research report on Wednesday, December 11th. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $23.00 price objective on shares of Wolverine World Wide in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Wolverine World Wide currently has an average rating of “Moderate Buy” and an average price target of $21.50.

Wolverine World Wide Stock Down 2.8 %

NYSE:WWW opened at $15.18 on Thursday. The firm’s 50-day moving average price is $21.88 and its 200-day moving average price is $18.78. The company has a market capitalization of $1.22 billion, a PE ratio of 27.60 and a beta of 1.88. 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 1-year low of $8.25 and a 1-year high of $24.64.

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 net margin of 2.73% and a return on equity of 26.81%. The firm had revenue of $494.70 million for the quarter, compared to the consensus estimate of $485.74 million. During the same period in the prior year, the firm earned ($0.30) EPS. The company’s revenue was down 6.1% compared to the same quarter last year. On average, equities analysts predict that Wolverine World Wide will post 1.13 EPS for the current fiscal year.

Wolverine World Wide Dividend Announcement

The business also recently announced 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. This represents a $0.40 annualized dividend and a yield of 2.64%. The ex-dividend date is Tuesday, April 1st. Wolverine World Wide’s dividend payout ratio is currently 72.73%.

Insider Buying and Selling at Wolverine World Wide

In related news, insider Isabel Soriano sold 7,687 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were 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 directly owns 34,206 shares in the company, valued at approximately $806,235.42. The trade was a 18.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.28% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in WWW. SBI Securities Co. Ltd. purchased a new stake in shares of Wolverine World Wide in the 4th quarter worth $25,000. Signaturefd LLC grew its holdings in Wolverine World Wide by 88.8% during the fourth quarter. Signaturefd LLC now owns 1,450 shares of the textile maker’s stock valued at $32,000 after purchasing an additional 682 shares during the period. 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 shares of Wolverine World Wide in the fourth quarter worth about $64,000. Finally, KBC Group NV lifted its position in shares of Wolverine World Wide by 43.8% during the 4th quarter. KBC Group NV now owns 4,303 shares of the textile maker’s stock valued at $96,000 after buying an additional 1,311 shares in the last quarter. 90.25% of the stock is currently owned by 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.