Wolverine World Wide (NYSE:WWW) Upgraded by BNP Paribas to “Outperform”

BNP Paribas upgraded shares of Wolverine World Wide (NYSE:WWW) from a neutral rating to an outperform rating in a research report sent to investors on Thursday, Marketbeat reports. BNP Paribas currently has $22.00 price target on the textile maker’s stock.

A number of other analysts have also weighed in on WWW. Argus upgraded shares of Wolverine World Wide to a hold rating in a research note on Friday, August 16th. Piper Sandler reissued an overweight rating and issued a $18.00 price objective on shares of Wolverine World Wide in a research report on Friday, August 23rd. KeyCorp raised shares of Wolverine World Wide from a sector weight rating to an overweight rating and set a $20.00 price objective for the company in a research report on Thursday, August 8th. UBS Group raised Wolverine World Wide from a neutral rating to a buy rating and increased their target price for the company from $13.00 to $20.00 in a report on Friday, July 19th. Finally, Telsey Advisory Group reaffirmed a market perform rating and set a $14.00 price target on shares of Wolverine World Wide in a report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Wolverine World Wide has an average rating of Moderate Buy and an average price target of $17.86.

Wolverine World Wide Stock Down 1.2 %

Shares of WWW opened at $17.79 on Thursday. The company’s 50-day simple moving average is $14.33 and its 200-day simple moving average is $12.98. The company has a debt-to-equity ratio of 2.14, a quick ratio of 0.74 and a current ratio of 1.19. Wolverine World Wide has a 1 year low of $7.21 and a 1 year high of $18.51. The stock has a market capitalization of $1.42 billion, a PE ratio of -19.13 and a beta of 1.77.

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

Wolverine World Wide Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Tuesday, October 1st will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.25%. The ex-dividend date is Tuesday, October 1st. Wolverine World Wide’s payout ratio is -43.01%.

Insider Transactions at Wolverine World Wide

In other news, insider David A. Latchana sold 7,706 shares of the stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $17.02, for a total value of $131,156.12. Following the completion of the sale, the insider now directly owns 13,889 shares of the company’s stock, valued at approximately $236,390.78. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.28% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Intrinsic Edge Capital Management LLC purchased a new position in Wolverine World Wide in the 4th quarter valued at $2,563,000. GAMMA Investing LLC boosted its holdings in shares of Wolverine World Wide by 42.5% in the first quarter. GAMMA Investing LLC now owns 4,504 shares of the textile maker’s stock valued at $50,000 after acquiring an additional 1,343 shares in the last quarter. J.W. Cole Advisors Inc. increased its stake in shares of Wolverine World Wide by 22.6% during the first quarter. J.W. Cole Advisors Inc. now owns 31,536 shares of the textile maker’s stock worth $350,000 after acquiring an additional 5,806 shares during the period. BNP Paribas Financial Markets raised its holdings in Wolverine World Wide by 52.8% during the first quarter. BNP Paribas Financial Markets now owns 65,242 shares of the textile maker’s stock worth $731,000 after purchasing an additional 22,532 shares in the last quarter. Finally, Capstone Investment Advisors LLC acquired a new stake in Wolverine World Wide in the first quarter valued at about $1,089,000. 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.