Wolverine World Wide (NYSE:WWW) released its earnings results on Wednesday. The textile maker reported $0.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.02, Briefing.com reports. The company had revenue of $568.60 million during the quarter, compared to the consensus estimate of $575.24 million. Wolverine World Wide had a return on equity of 21.21% and a net margin of 8.02%. Wolverine World Wide’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.54 EPS. Wolverine World Wide updated its FY 2019 guidance to $2.28-2.28 EPS and its FY19 guidance to ~$2.28 EPS.
WWW stock traded down $1.27 during midday trading on Friday, hitting $25.74. The stock had a trading volume of 783,259 shares, compared to its average volume of 747,559. The stock has a market cap of $2.28 billion, a price-to-earnings ratio of 11.86, a price-to-earnings-growth ratio of 1.13 and a beta of 1.08. The stock’s 50-day moving average price is $27.19. Wolverine World Wide has a 52-week low of $25.36 and a 52-week high of $39.77. The company has a current ratio of 1.25, a quick ratio of 0.85 and a debt-to-equity ratio of 0.68.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 1st will be paid a $0.10 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.40 annualized dividend and a yield of 1.55%. Wolverine World Wide’s payout ratio is 18.43%.
A number of institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its holdings in Wolverine World Wide by 12.0% in the second quarter. JPMorgan Chase & Co. now owns 2,427,186 shares of the textile maker’s stock worth $66,359,000 after acquiring an additional 259,811 shares in the last quarter. Champlain Investment Partners LLC lifted its holdings in shares of Wolverine World Wide by 3.3% during the first quarter. Champlain Investment Partners LLC now owns 1,924,285 shares of the textile maker’s stock valued at $68,755,000 after purchasing an additional 61,915 shares in the last quarter. Royce & Associates LP lifted its holdings in shares of Wolverine World Wide by 3.4% during the first quarter. Royce & Associates LP now owns 1,386,645 shares of the textile maker’s stock valued at $49,545,000 after purchasing an additional 45,600 shares in the last quarter. Norges Bank bought a new position in shares of Wolverine World Wide during the fourth quarter valued at $40,369,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Wolverine World Wide by 9.8% during the fourth quarter. Geode Capital Management LLC now owns 1,003,698 shares of the textile maker’s stock valued at $32,007,000 after purchasing an additional 89,817 shares in the last quarter. 91.46% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts recently weighed in on the company. Argus downgraded Wolverine World Wide from a “buy” rating to a “hold” rating and set a $29.19 target price for the company. in a research report on Friday, May 17th. DA Davidson set a $40.00 target price on Wolverine World Wide and gave the stock a “buy” rating in a research report on Friday, May 10th. ValuEngine downgraded Wolverine World Wide from a “hold” rating to a “sell” rating in a research report on Monday, May 20th. Pivotal Research restated a “hold” rating and issued a $30.00 target price (down previously from $34.00) on shares of Wolverine World Wide in a research report on Friday, August 2nd. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $34.00 price target (down from $38.00) on shares of Wolverine World Wide in a research note on Monday, August 5th. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $37.32.
Wolverine World Wide Company Profile
Wolverine World Wide, Inc designs, manufactures, sources, markets, licenses, and distributes footwear, apparel, and accessories. The company operates through three segments: Wolverine Outdoor & Lifestyle Group, Wolverine Boston Group, and Wolverine Heritage Group. It offers casual footwear and apparel; performance outdoor and athletic footwear and apparel; kids' footwear; industrial work boots and apparel; and uniform shoes and boots.
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