Telsey Advisory Group Reaffirms Market Perform Rating for Wolverine World Wide (NYSE:WWW)

Telsey Advisory Group reiterated their market perform rating on shares of Wolverine World Wide (NYSE:WWW) in a report issued on Wednesday morning, MarketBeat Ratings reports. Telsey Advisory Group currently has a $14.00 target price on the textile maker’s stock. Telsey Advisory Group also issued estimates for Wolverine World Wide’s FY2024 earnings at $0.85 EPS, Q2 2025 earnings at $0.28 EPS and FY2025 earnings at $1.28 EPS.

Other equities analysts have also issued reports about the stock. Seaport Res Ptn raised shares of Wolverine World Wide from a neutral rating to a buy rating in a research report on Monday, May 6th. Williams Trading raised shares of Wolverine World Wide from a hold rating to a buy rating and increased their price target for the company from $11.00 to $16.00 in a report on Thursday, May 9th. UBS Group upgraded Wolverine World Wide from a neutral rating to a buy rating and boosted their price objective for the stock from $13.00 to $20.00 in a report on Friday, July 19th. Finally, Robert W. Baird increased their target price on Wolverine World Wide from $9.00 to $13.00 and gave the stock a neutral rating in a research note on Thursday, May 9th. Eight research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $13.80.

Wolverine World Wide Trading Down 3.2 %

Shares of NYSE:WWW opened at $12.59 on Wednesday. Wolverine World Wide has a 52-week low of $7.21 and a 52-week high of $15.23. The company has a debt-to-equity ratio of 2.24, a quick ratio of 0.65 and a current ratio of 1.13. The company has a market capitalization of $1.01 billion, a P/E ratio of -13.54 and a beta of 1.76. The company has a 50-day simple moving average of $13.38 and a 200 day simple moving average of $11.49.

Wolverine World Wide (NYSE:WWW) last released its quarterly earnings data on Wednesday, August 7th. The textile maker reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.05. Wolverine World Wide had a positive return on equity of 0.53% and a negative net margin of 3.59%. The firm had revenue of $425.40 million for the quarter, compared to analyst estimates of $411.20 million. During the same quarter in the prior year, the company earned $0.19 earnings per share. The business’s revenue for the quarter was down 27.8% compared to the same quarter last year. Sell-side analysts forecast that Wolverine World Wide will post 0.82 earnings per share for the current year.

Wolverine World Wide Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 1st will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date is Tuesday, October 1st. Wolverine World Wide’s payout ratio is currently -43.01%.

Insider Buying and Selling

In other Wolverine World Wide news, insider Isabel Soriano sold 3,201 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $13.89, for a total value of $44,461.89. Following the transaction, the insider now directly owns 26,519 shares of the company’s stock, valued at approximately $368,348.91. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.28% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Wolverine World Wide

Large investors have recently modified their holdings of the business. GAMMA Investing LLC bought a new stake in shares of Wolverine World Wide during the 4th quarter worth $26,000. Central Pacific Bank Trust Division bought a new position in shares of Wolverine World Wide in the first quarter worth about $81,000. Natixis bought a new position in shares of Wolverine World Wide in the first quarter worth about $112,000. EntryPoint Capital LLC acquired a new stake in shares of Wolverine World Wide in the 1st quarter valued at approximately $141,000. Finally, Oxford Asset Management LLP bought a new stake in shares of Wolverine World Wide during the 4th quarter valued at approximately $124,000. Institutional investors and hedge funds own 90.25% 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. 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.