Seaport Res Ptn Issues Positive Forecast for WWW Earnings

Wolverine World Wide, Inc. (NYSE:WWW) – Equities research analysts at Seaport Res Ptn lifted their FY2024 earnings estimates for shares of Wolverine World Wide in a research report issued to clients and investors on Thursday, November 7th. Seaport Res Ptn analyst M. Kummetz now forecasts that the textile maker will earn $0.90 per share for the year, up from their previous forecast of $0.85. The consensus estimate for Wolverine World Wide’s current full-year earnings is $0.89 per share. Seaport Res Ptn also issued estimates for Wolverine World Wide’s Q4 2024 earnings at $0.41 EPS, FY2025 earnings at $1.48 EPS and FY2026 earnings at $1.93 EPS.

Other research analysts also recently issued research reports about the stock. Telsey Advisory Group restated a “market perform” rating and set a $15.00 price target on shares of Wolverine World Wide in a research report on Thursday, November 7th. Piper Sandler restated an “overweight” rating and set a $18.00 price target on shares of Wolverine World Wide in a research report on Friday, August 23rd. BNP Paribas upgraded shares of Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 price objective for the company in a report on Thursday, October 3rd. UBS Group upgraded shares of Wolverine World Wide from a “neutral” rating to a “buy” rating and increased their price objective for the company from $13.00 to $20.00 in a report on Friday, July 19th. Finally, Argus upgraded shares of Wolverine World Wide to a “hold” rating in a report on Friday, August 16th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

Wolverine World Wide Stock Up 1.5 %

WWW opened at $22.31 on Monday. Wolverine World Wide has a twelve month low of $7.58 and a twelve month high of $22.60. The company has a quick ratio of 0.74, a current ratio of 1.23 and a debt-to-equity ratio of 1.91. The company has a 50-day moving average price of $15.98 and a 200 day moving average price of $14.12. The company has a market cap of $1.79 billion, a PE ratio of -24.76 and a beta of 1.78.

Institutional Investors Weigh In On Wolverine World Wide

A number of hedge funds have recently added to or reduced their stakes in WWW. Pacer Advisors Inc. acquired a new stake in shares of Wolverine World Wide in the 2nd quarter valued at $64,295,000. Jennison Associates LLC acquired a new stake in Wolverine World Wide during the 3rd quarter worth $10,974,000. Federated Hermes Inc. grew its position in Wolverine World Wide by 10,607.4% during the 2nd quarter. Federated Hermes Inc. now owns 540,402 shares of the textile maker’s stock worth $7,306,000 after purchasing an additional 535,355 shares during the last quarter. Manning & Napier Advisors LLC purchased a new position in Wolverine World Wide during the 2nd quarter worth $7,098,000. Finally, Panagora Asset Management Inc. purchased a new position in Wolverine World Wide during the 2nd quarter worth $3,979,000. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Wolverine World Wide news, insider David A. Latchana sold 7,706 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $17.02, for a total transaction of $131,156.12. Following the sale, the insider now directly owns 13,889 shares in the company, valued at $236,390.78. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.28% of the stock is currently owned by corporate insiders.

Wolverine World Wide Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 2nd will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.79%. Wolverine World Wide’s payout ratio is currently -44.94%.

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.