Wolverine World Wide (NYSE:WWW) Shares Gap Up After Strong Earnings

Wolverine World Wide, Inc. (NYSE:WWW)’s stock price gapped up prior to trading on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $18.04, but opened at $20.80. Wolverine World Wide shares last traded at $20.4610, with a volume of 219,226 shares traded.

The textile maker reported $0.45 EPS for the quarter, beating the consensus estimate of $0.44 by $0.01. The company had revenue of $517.50 million for the quarter, compared to analyst estimates of $510.49 million. Wolverine World Wide had a return on equity of 31.43% and a net margin of 4.73%.The firm’s revenue was up 4.6% compared to the same quarter last year. During the same period last year, the company posted $0.40 earnings per share. Wolverine World Wide has set its FY 2026 guidance at 1.350-1.500 EPS.

Wolverine World Wide Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Wednesday, April 1st will be issued a $0.10 dividend. The ex-dividend date is Wednesday, April 1st. This represents a $0.40 dividend on an annualized basis and a yield of 1.9%. Wolverine World Wide’s payout ratio is currently 38.46%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. BNP Paribas Exane downgraded shares of Wolverine World Wide from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $38.00 to $19.00 in a research note on Thursday, January 22nd. Telsey Advisory Group restated a “market perform” rating and issued a $18.00 target price on shares of Wolverine World Wide in a research note on Friday, February 20th. Argus restated a “hold” rating on shares of Wolverine World Wide in a research report on Friday, January 23rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Wolverine World Wide in a report on Monday, December 29th. Finally, Piper Sandler downgraded shares of Wolverine World Wide from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $22.00 to $16.00 in a report on Wednesday, January 7th. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $21.38.

Hedge Funds Weigh In On Wolverine World Wide

Several institutional investors and hedge funds have recently added to or reduced their stakes in WWW. Oxbow Capital Management HK Ltd acquired a new position in Wolverine World Wide during the third quarter valued at $54,431,000. Hennessy Advisors Inc. acquired a new position in shares of Wolverine World Wide in the 3rd quarter valued at about $36,556,000. Callodine Capital Management LP lifted its position in shares of Wolverine World Wide by 41.0% in the second quarter. Callodine Capital Management LP now owns 4,297,586 shares of the textile maker’s stock worth $77,700,000 after purchasing an additional 1,250,515 shares in the last quarter. Alua Capital Management LP acquired a new stake in shares of Wolverine World Wide during the third quarter worth approximately $33,231,000. Finally, Massachusetts Financial Services Co. MA purchased a new position in Wolverine World Wide during the fourth quarter valued at approximately $21,687,000. 90.25% of the stock is currently owned by hedge funds and other institutional investors.

Wolverine World Wide Trading Up 13.9%

The stock has a market cap of $1.68 billion, a price-to-earnings ratio of 19.76 and a beta of 1.91. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.79 and a current ratio of 1.34. The company’s 50 day simple moving average is $18.17 and its two-hundred day simple moving average is $22.10.

About Wolverine World Wide

Wolverine World Wide, Inc (NYSE: WWW) is a global footwear and apparel company headquartered in Rockford, Michigan. The company designs, manufactures and markets a diversified portfolio of casual, active and performance lifestyle brands. Wolverine World Wide’s offerings span multiple price points and consumer segments, with products that include outdoor and trail footwear, running shoes, casual sneakers, boat shoes, work boots and related apparel and accessories.

Key brands in Wolverine World Wide’s portfolio include Merrell, an outdoor performance footwear brand; Saucony, known for running shoes and athletic gear; Sperry, which popularized boat shoes; Hush Puppies, a casual and comfort‐oriented line; and Keds, a heritage sneaker label.