Seaport Res Ptn Has Strong Forecast for WWW FY2024 Earnings

Wolverine World Wide, Inc. (NYSE:WWW) – Analysts at Seaport Res Ptn boosted their FY2024 earnings estimates for Wolverine World Wide in a research report issued to clients and investors on Thursday, November 7th. Seaport Res Ptn analyst M. Kummetz now expects 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.

Several other research firms have also weighed in on WWW. KeyCorp upgraded Wolverine World Wide from a “sector weight” rating to an “overweight” rating and set a $20.00 target price for the company in a report on Thursday, August 8th. Piper Sandler reaffirmed an “overweight” rating and set a $18.00 price objective on shares of Wolverine World Wide in a 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 target price on the stock in a research note on Thursday, October 3rd. Argus raised shares of Wolverine World Wide to a “hold” rating in a research report on Friday, August 16th. Finally, Robert W. Baird raised their price target on Wolverine World Wide from $13.00 to $15.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Three investment 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.com, Wolverine World Wide currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.00.

Wolverine World Wide Stock Performance

WWW opened at $21.97 on Monday. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.74 and a current ratio of 1.23. The company has a market cap of $1.76 billion, a PE ratio of -24.69 and a beta of 1.78. The stock has a 50-day moving average of $15.98 and a 200-day moving average of $14.09. Wolverine World Wide has a 52-week low of $7.58 and a 52-week high of $22.00.

Wolverine World Wide Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 2nd will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date is Thursday, January 2nd. Wolverine World Wide’s dividend payout ratio (DPR) is presently -44.94%.

Insiders Place Their Bets

In other news, insider David A. Latchana sold 7,706 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $17.02, for a total transaction of $131,156.12. Following the completion of the transaction, the insider now owns 13,889 shares of the company’s stock, valued at approximately $236,390.78. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.28% of the company’s stock.

Institutional Trading of Wolverine World Wide

Institutional investors and hedge funds have recently modified their holdings of the company. Landscape Capital Management L.L.C. acquired a new stake in Wolverine World Wide during the third quarter worth $3,034,000. Intech Investment Management LLC lifted its holdings in shares of Wolverine World Wide by 5.0% during the 3rd quarter. Intech Investment Management LLC now owns 39,412 shares of the textile maker’s stock worth $687,000 after acquiring an additional 1,866 shares during the period. Jennison Associates LLC acquired a new stake in shares of Wolverine World Wide during the 3rd quarter valued at about $10,974,000. Natixis Advisors LLC increased its stake in Wolverine World Wide by 20.5% in the third quarter. Natixis Advisors LLC now owns 27,573 shares of the textile maker’s stock valued at $480,000 after acquiring an additional 4,694 shares during the period. Finally, Oppenheimer Asset Management Inc. raised its position in Wolverine World Wide by 5.5% in the third quarter. Oppenheimer Asset Management Inc. now owns 145,860 shares of the textile maker’s stock worth $2,541,000 after purchasing an additional 7,577 shares in the last quarter. 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.