FY2024 EPS Estimates for WWW Lifted by Telsey Advisory Group

Wolverine World Wide, Inc. (NYSE:WWW) – Stock analysts at Telsey Advisory Group increased their FY2024 earnings per share estimates for shares of Wolverine World Wide in a research note issued on Friday, November 8th. Telsey Advisory Group analyst D. Telsey now forecasts that the textile maker will earn $0.90 per share for the year, up from their previous estimate of $0.85. Telsey Advisory Group has a “Market Perform” rating and a $15.00 price target on the stock. The consensus estimate for Wolverine World Wide’s current full-year earnings is $0.89 per share. Telsey Advisory Group also issued estimates for Wolverine World Wide’s Q4 2024 earnings at $0.41 EPS, Q1 2025 earnings at $0.30 EPS, Q2 2025 earnings at $0.29 EPS, Q3 2025 earnings at $0.31 EPS, Q4 2025 earnings at $0.41 EPS and FY2025 earnings at $1.31 EPS.

A number of other equities research analysts have also weighed in on the stock. BNP Paribas upgraded shares of Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 target price for the company in a research note on Thursday, October 3rd. UBS Group raised Wolverine World Wide from a “neutral” rating to a “buy” rating and raised their target price for the stock from $13.00 to $20.00 in a research report on Friday, July 19th. Robert W. Baird upped their price target on shares of Wolverine World Wide from $13.00 to $15.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Argus raised shares of Wolverine World Wide to a “hold” rating in a report on Friday, August 16th. Finally, KeyCorp upgraded shares of Wolverine World Wide from a “sector weight” rating to an “overweight” rating and set a $20.00 target price for the company in a research report on Thursday, August 8th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Wolverine World Wide presently has an average rating of “Moderate Buy” and a consensus price target of $18.00.

Wolverine World Wide Stock Up 0.8 %

WWW opened at $21.97 on Monday. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of -24.69 and a beta of 1.78. The firm has a 50 day moving average price of $15.98 and a 200-day moving average price of $14.09. Wolverine World Wide has a twelve month low of $7.58 and a twelve month high of $22.00. The company has a quick ratio of 0.74, a current ratio of 1.23 and a debt-to-equity ratio of 1.91.

Wolverine World Wide Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders 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 annualized dividend and a dividend yield of 1.82%. Wolverine World Wide’s payout ratio is -44.94%.

Insider Activity at Wolverine World Wide

In other Wolverine World Wide news, insider David A. Latchana sold 7,706 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was 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 of the company’s stock, valued at $236,390.78. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.28% of the stock is owned by corporate insiders.

Institutional Trading of Wolverine World Wide

Institutional investors and hedge funds have recently bought and sold shares of the stock. Manning & Napier Advisors LLC purchased a new stake in Wolverine World Wide during the 2nd quarter valued at $7,098,000. Federated Hermes Inc. grew its holdings 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 valued at $7,306,000 after purchasing an additional 535,355 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Wolverine World Wide in the 2nd quarter worth about $548,000. Panagora Asset Management Inc. bought a new stake in Wolverine World Wide in the second quarter worth about $3,979,000. Finally, BNP Paribas Financial Markets boosted its position in shares of Wolverine World Wide by 52.8% during the first quarter. BNP Paribas Financial Markets now owns 65,242 shares of the textile maker’s stock valued at $731,000 after buying an additional 22,532 shares during the period. 90.25% of the stock is currently owned by institutional investors.

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.