Zacks: Analysts Anticipate Wolverine World Wide, Inc. (NYSE:WWW) Will Announce Quarterly Sales of $478.91 Million

Brokerages forecast that Wolverine World Wide, Inc. (NYSE:WWW) will post $478.91 million in sales for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have made estimates for Wolverine World Wide’s earnings, with the lowest sales estimate coming in at $466.50 million and the highest estimate coming in at $493.60 million. Wolverine World Wide posted sales of $607.40 million in the same quarter last year, which suggests a negative year over year growth rate of 21.2%. The business is scheduled to issue its next earnings report on Tuesday, February 23rd.

On average, analysts expect that Wolverine World Wide will report full-year sales of $1.76 billion for the current year, with estimates ranging from $1.75 billion to $1.78 billion. For the next year, analysts forecast that the business will report sales of $2.18 billion, with estimates ranging from $1.95 billion to $2.32 billion. Zacks’ sales calculations are an average based on a survey of analysts that cover Wolverine World Wide.

Several equities analysts have weighed in on the company. B. Riley lifted their target price on Wolverine World Wide from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Friday, January 15th. Pivotal Research raised their target price on shares of Wolverine World Wide from $31.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday, November 3rd. Telsey Advisory Group raised their target price on shares of Wolverine World Wide from $26.00 to $29.00 and gave the company a “market perform” rating in a report on Friday, November 6th. KeyCorp raised their target price on shares of Wolverine World Wide from $34.00 to $37.00 and gave the company an “overweight” rating in a report on Monday, December 7th. Finally, UBS Group started coverage on shares of Wolverine World Wide in a report on Wednesday, October 21st. They issued a “neutral” rating and a $30.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $29.30.

Shares of NYSE:WWW traded up $0.04 during midday trading on Friday, reaching $33.94. 450,791 shares of the company’s stock were exchanged, compared to its average volume of 411,325. The firm’s 50 day simple moving average is $31.27 and its two-hundred day simple moving average is $28.14. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.65 and a quick ratio of 1.08. The stock has a market cap of $2.79 billion, a price-to-earnings ratio of 49.16, a P/E/G ratio of 2.50 and a beta of 1.59. Wolverine World Wide has a fifty-two week low of $12.19 and a fifty-two week high of $34.79.

The business also recently declared a quarterly dividend, which will be paid on Monday, May 3rd. Shareholders of record on Thursday, April 1st will be paid a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, March 31st. This represents a $0.40 annualized dividend and a yield of 1.18%. Wolverine World Wide’s dividend payout ratio is currently 17.78%.

In other news, CEO Blake W. Krueger sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 24th. The shares were sold at an average price of $30.93, for a total transaction of $618,600.00. Following the transaction, the chief executive officer now directly owns 898,230 shares in the company, valued at $27,782,253.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Michael D. Stornant sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, December 11th. The stock was sold at an average price of $30.64, for a total transaction of $30,640.00. Following the transaction, the chief financial officer now owns 43,155 shares in the company, valued at $1,322,269.20. The disclosure for this sale can be found here. Insiders sold 27,192 shares of company stock worth $843,782 over the last quarter. 4.88% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. CX Institutional purchased a new position in shares of Wolverine World Wide during the third quarter worth approximately $26,000. Strs Ohio grew its position in shares of Wolverine World Wide by 75.0% during the third quarter. Strs Ohio now owns 2,100 shares of the textile maker’s stock worth $54,000 after acquiring an additional 900 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Wolverine World Wide during the third quarter worth approximately $83,000. Veriti Management LLC purchased a new position in shares of Wolverine World Wide during the fourth quarter worth approximately $89,000. Finally, Chicago Capital LLC purchased a new position in shares of Wolverine World Wide during the fourth quarter worth approximately $221,000. Institutional investors and hedge funds own 91.49% of the company’s stock.

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. The company operates through two segments, Wolverine Michigan Group and Wolverine Boston Group.

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