Wolverine World Wide (NYSE:WWW) Upgraded to Buy by Seaport Res Ptn

Seaport Res Ptn upgraded shares of Wolverine World Wide (NYSE:WWW) from a neutral rating to a buy rating in a report published 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 reaffirmed a market perform rating and set a $10.00 price objective on shares of Wolverine World Wide in a report on Wednesday, May 1st. Nine research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $11.67.

Wolverine World Wide Trading Up 5.0 %

NYSE:WWW opened at $13.38 on Monday. The company’s 50 day moving average is $10.32 and its 200-day moving average is $9.30. The company has a quick ratio of 0.75, a current ratio of 1.18 and a debt-to-equity ratio of 2.02. Wolverine World Wide has a 12 month low of $7.21 and a 12 month high of $17.85. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of -26.23 and a beta of 1.73.

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

Wolverine World Wide Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Monday, July 1st will be paid a dividend of $0.10 per share. The ex-dividend date is Monday, July 1st. This represents a $0.40 dividend on an annualized basis 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

A number of hedge funds have recently modified their holdings of WWW. Pacific Ridge Capital Partners LLC grew its stake in Wolverine World Wide by 29.0% in the first quarter. Pacific Ridge Capital Partners LLC now owns 67,482 shares of the textile maker’s stock valued at $756,000 after acquiring an additional 15,190 shares during the period. State Board of Administration of Florida Retirement System boosted its holdings in shares of Wolverine World Wide by 66.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 36,861 shares of the textile maker’s stock valued at $413,000 after buying an additional 14,670 shares during the period. ProShare Advisors LLC increased its position in shares of Wolverine World Wide by 7.5% during the first quarter. ProShare Advisors LLC now owns 15,708 shares of the textile maker’s stock worth $176,000 after acquiring an additional 1,090 shares in the last quarter. Sei Investments Co. increased its position in shares of Wolverine World Wide by 1.8% during the first quarter. Sei Investments Co. now owns 688,530 shares of the textile maker’s stock worth $7,718,000 after acquiring an additional 12,266 shares in the last quarter. Finally, Texas Permanent School Fund Corp boosted its stake in Wolverine World Wide by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 69,168 shares of the textile maker’s stock worth $775,000 after purchasing an additional 946 shares during the period. 90.25% of the stock is currently owned by institutional investors and hedge funds.

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.