Wolverine World Wide (NYSE:WWW) Upgraded at Seaport Res Ptn

Seaport Res Ptn upgraded shares of Wolverine World Wide (NYSE:WWW) from a neutral rating to a buy rating in a research note issued to investors on Monday, Zacks.com reports. Seaport Res Ptn also issued estimates for Wolverine World Wide’s Q2 2024 earnings at $0.29 EPS, Q3 2024 earnings at $0.36 EPS, Q4 2024 earnings at $0.14 EPS, FY2024 earnings at $0.80 EPS, FY2025 earnings at $1.33 EPS and FY2026 earnings at $1.77 EPS.

Separately, Telsey Advisory Group reissued a market perform rating and issued a $10.00 price objective on shares of Wolverine World Wide in a research note on Wednesday, May 1st. Nine research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Wolverine World Wide presently has a consensus rating of Hold and a consensus price target of $11.67.

Wolverine World Wide Trading Up 5.0 %

WWW stock opened at $13.38 on Monday. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of -26.23 and a beta of 1.73. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.18 and a quick ratio of 0.75. Wolverine World Wide has a 1-year low of $7.21 and a 1-year high of $17.85. The business has a 50 day simple moving average of $10.32 and a two-hundred day simple moving average of $9.30.

Wolverine World Wide (NYSE:WWW) last released its quarterly earnings data on Wednesday, February 21st. The textile maker reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.03). The company had revenue of $526.70 million for the quarter, compared to the consensus estimate of $520.12 million. Wolverine World Wide had a negative net margin of 1.77% and a positive return on equity of 1.45%. The firm’s revenue for the quarter was down 20.8% on a year-over-year basis. During the same period last year, the company earned ($0.15) EPS. Research analysts anticipate that Wolverine World Wide will post 0.77 EPS for the current fiscal year.

Wolverine World Wide Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Monday, July 1st will be given a dividend of $0.10 per share. The ex-dividend date is Monday, July 1st. This represents a $0.40 annualized dividend and a dividend yield of 2.99%. Wolverine World Wide’s dividend payout ratio (DPR) is presently -78.43%.

Institutional Trading of Wolverine World Wide

Institutional investors and hedge funds have recently made changes to their positions in the business. Texas Permanent School Fund Corp grew its position in shares of Wolverine World Wide by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 69,168 shares of the textile maker’s stock worth $775,000 after buying an additional 946 shares in the last quarter. ProShare Advisors LLC raised its holdings in shares of Wolverine World Wide by 7.5% in the 1st quarter. ProShare Advisors LLC now owns 15,708 shares of the textile maker’s stock valued at $176,000 after purchasing an additional 1,090 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Wolverine World Wide by 42.5% in the 1st quarter. GAMMA Investing LLC now owns 4,504 shares of the textile maker’s stock worth $50,000 after purchasing an additional 1,343 shares during the period. Swiss National Bank lifted its position in shares of Wolverine World Wide by 1.0% in the 3rd quarter. Swiss National Bank now owns 174,600 shares of the textile maker’s stock worth $1,407,000 after purchasing an additional 1,700 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Wolverine World Wide by 15.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,873 shares of the textile maker’s stock valued at $159,000 after purchasing an additional 2,390 shares in the last quarter. 90.25% of the stock is currently owned by 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.