Wolverine World Wide, Inc. (NYSE:WWW) – Stock analysts at Piper Jaffray Companies cut their Q4 2018 earnings estimates for shares of Wolverine World Wide in a report released on Wednesday, November 7th. Piper Jaffray Companies analyst E. Murphy now forecasts that the textile maker will post earnings of $0.50 per share for the quarter, down from their previous forecast of $0.58. Piper Jaffray Companies currently has a “Hold” rating and a $38.00 target price on the stock. Piper Jaffray Companies also issued estimates for Wolverine World Wide’s Q4 2019 earnings at $0.57 EPS, Q1 2020 earnings at $0.60 EPS, Q2 2020 earnings at $0.63 EPS, Q3 2020 earnings at $0.71 EPS and FY2020 earnings at $2.55 EPS.
Wolverine World Wide (NYSE:WWW) last announced its earnings results on Wednesday, November 7th. The textile maker reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.06. Wolverine World Wide had a net margin of 2.83% and a return on equity of 18.58%. The company had revenue of $558.60 million for the quarter, compared to the consensus estimate of $584.25 million. During the same period in the previous year, the business earned $0.43 EPS. The company’s revenue was down 3.9% on a year-over-year basis.
Shares of NYSE:WWW opened at $33.18 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.86 and a current ratio of 2.65. Wolverine World Wide has a 12-month low of $26.81 and a 12-month high of $39.77. The firm has a market cap of $3.44 billion, a price-to-earnings ratio of 20.23, a PEG ratio of 1.70 and a beta of 1.11.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Acadian Asset Management LLC acquired a new position in shares of Wolverine World Wide in the third quarter worth $110,000. Raymond James & Associates acquired a new position in shares of Wolverine World Wide in the second quarter worth $205,000. Robeco Institutional Asset Management B.V. acquired a new position in shares of Wolverine World Wide in the second quarter worth $224,000. Papp L Roy & Associates acquired a new position in shares of Wolverine World Wide in the second quarter worth $226,000. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Wolverine World Wide in the second quarter worth $233,000. 92.94% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Michael Jeppesen sold 49,151 shares of the company’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $37.77, for a total value of $1,856,433.27. Following the transaction, the insider now directly owns 156,470 shares of the company’s stock, valued at $5,909,871.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Richard Woodworth sold 19,376 shares of the company’s stock in a transaction on Friday, August 31st. The stock was sold at an average price of $38.73, for a total transaction of $750,432.48. Following the completion of the transaction, the insider now directly owns 123,040 shares in the company, valued at $4,765,339.20. The disclosure for this sale can be found here. Corporate insiders own 5.81% of the company’s stock.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 1st. Stockholders of record on Wednesday, January 2nd will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend is Monday, December 31st. Wolverine World Wide’s dividend payout ratio (DPR) is presently 19.51%.
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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