FY2024 EPS Estimates for WWW Raised by Telsey Advisory Group

Wolverine World Wide, Inc. (NYSE:WWW) – Analysts at Telsey Advisory Group raised 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 anticipates that the textile maker will earn $0.90 per share for the year, up from their previous estimate of $0.85. Telsey Advisory Group currently has a “Market Perform” rating and a $15.00 target price 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.

Other analysts also recently issued research reports about the company. KeyCorp upgraded Wolverine World Wide from a “sector weight” rating to an “overweight” rating and set a $20.00 price target on the stock in a research note on Thursday, August 8th. Robert W. Baird upped their price target on Wolverine World Wide from $13.00 to $15.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Piper Sandler restated an “overweight” rating and issued a $18.00 price target on shares of Wolverine World Wide in a research note on Friday, August 23rd. BNP Paribas upgraded Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 price target on the stock in a research note on Thursday, October 3rd. Finally, Argus upgraded Wolverine World Wide to a “hold” rating in a research note on Friday, August 16th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $18.00.

Wolverine World Wide Stock Up 1.5 %

Shares of NYSE:WWW opened at $22.31 on Monday. Wolverine World Wide has a 52-week low of $7.58 and a 52-week high of $22.60. The firm has a market capitalization of $1.79 billion, a P/E ratio of -24.76 and a beta of 1.78. The stock has a 50 day moving average price of $15.98 and a 200-day moving average price of $14.12. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.74 and a current ratio of 1.23.

Wolverine World Wide Dividend Announcement

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

Insider Buying and Selling at Wolverine World Wide

In other Wolverine World Wide news, insider David A. Latchana sold 7,706 shares of the stock in a transaction on 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 in the company, valued at approximately $236,390.78. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.28% of the company’s stock.

Hedge Funds Weigh In On Wolverine World Wide

Several hedge funds and other institutional investors have recently modified their holdings of the company. Earnest Partners LLC lifted its holdings in shares of Wolverine World Wide by 1.7% during the 2nd quarter. Earnest Partners LLC now owns 5,321,797 shares of the textile maker’s stock valued at $71,951,000 after buying an additional 90,407 shares during the period. Pacer Advisors Inc. bought a new position in shares of Wolverine World Wide during the 2nd quarter valued at $64,295,000. Bank of New York Mellon Corp lifted its holdings in shares of Wolverine World Wide by 6.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 994,443 shares of the textile maker’s stock valued at $13,445,000 after buying an additional 60,481 shares during the period. Sei Investments Co. lifted its holdings in shares of Wolverine World Wide by 1.8% during the 1st quarter. Sei Investments Co. now owns 688,530 shares of the textile maker’s stock valued at $7,718,000 after buying an additional 12,266 shares during the period. Finally, Jennison Associates LLC bought a new position in shares of Wolverine World Wide during the 3rd quarter valued at $10,974,000. 90.25% of the stock is owned by institutional investors.

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.