Wolverine World Wide (NYSE:WWW) Rating Increased to Buy at Seaport Res Ptn

Seaport Res Ptn upgraded shares of Wolverine World Wide (NYSE:WWW) from a neutral rating to a buy rating in a research report sent to investors on Monday, Zacks.com reports. Seaport Res Ptn also issued estimates for Wolverine World Wide’s Q2 2024 earnings at $0.29 EPS and Q3 2024 earnings at $0.36 EPS.

Separately, Telsey Advisory Group reissued a market perform rating and set a $10.00 target price on shares of Wolverine World Wide in a research report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Wolverine World Wide has an average rating of Hold and a consensus target price of $10.63.

Wolverine World Wide Price Performance

Shares of WWW opened at $12.73 on Monday. Wolverine World Wide has a 1-year low of $7.21 and a 1-year high of $17.85. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.18 and a quick ratio of 0.75. The stock has a market cap of $1.02 billion, a PE ratio of -24.96 and a beta of 1.73. The firm has a fifty day moving average price of $10.26 and a 200 day moving average price of $9.27.

Wolverine World Wide (NYSE:WWW) last released its earnings results 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 negative net margin of 1.77% and a positive return on equity of 1.45%. The business had revenue of $526.70 million during the quarter, compared to analyst estimates of $520.12 million. During the same period last year, the business posted ($0.15) EPS. Wolverine World Wide’s revenue was down 20.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Wolverine World Wide will post 0.77 EPS for the current year.

Wolverine World Wide Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Monday, July 1st will be paid a $0.10 dividend. The ex-dividend date is Monday, July 1st. This represents a $0.40 annualized dividend and a yield of 3.14%. Wolverine World Wide’s payout ratio is currently -78.43%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC acquired a new stake in shares of Wolverine World Wide in the 4th quarter valued at about $26,000. Central Pacific Bank Trust Division bought a new position in Wolverine World Wide in the first quarter valued at $81,000. Sherbrooke Park Advisers LLC purchased a new position in shares of Wolverine World Wide during the third quarter worth approximately $93,000. Aristeia Capital LLC bought a new stake in shares of Wolverine World Wide in the 3rd quarter valued at about $103,000. Finally, Oxford Asset Management LLP bought a new stake in Wolverine World Wide in the 4th quarter worth $124,000. Institutional investors 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.