Wolverine World Wide, Inc. (NYSE:WWW) – Equities research analysts at B. Riley lowered their Q2 2021 earnings estimates for Wolverine World Wide in a report issued on Wednesday, May 12th. B. Riley analyst S. Anderson now expects that the textile maker will post earnings per share of $0.42 for the quarter, down from their previous estimate of $0.44. B. Riley currently has a “Buy” rating and a $45.00 target price on the stock. B. Riley also issued estimates for Wolverine World Wide’s Q4 2021 earnings at $0.59 EPS.
Wolverine World Wide (NYSE:WWW) last released its quarterly earnings results on Wednesday, May 12th. The textile maker reported $0.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.02. The company had revenue of $510.70 million for the quarter, compared to analysts’ expectations of $508.32 million. Wolverine World Wide had a net margin of 3.00% and a return on equity of 17.74%. The firm’s revenue for the quarter was up 16.3% compared to the same quarter last year. During the same period last year, the company earned $0.28 EPS.
Shares of NYSE WWW opened at $38.87 on Monday. The firm has a market cap of $3.21 billion, a P/E ratio of 55.53, a price-to-earnings-growth ratio of 2.50 and a beta of 1.59. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.08 and a current ratio of 1.65. Wolverine World Wide has a 1 year low of $18.55 and a 1 year high of $44.74. The firm’s 50 day moving average price is $40.11 and its 200 day moving average price is $34.19.
A number of institutional investors have recently added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. grew its position in Wolverine World Wide by 1,786.5% in the first quarter. Rockefeller Capital Management L.P. now owns 698 shares of the textile maker’s stock valued at $26,000 after acquiring an additional 661 shares in the last quarter. Vantage Consulting Group Inc acquired a new stake in Wolverine World Wide during the 4th quarter valued at $34,000. Bessemer Group Inc. purchased a new stake in Wolverine World Wide during the 1st quarter worth $44,000. Veriti Management LLC acquired a new position in Wolverine World Wide in the 4th quarter worth $89,000. Finally, First Bank & Trust boosted its position in Wolverine World Wide by 62.2% in the 1st quarter. First Bank & Trust now owns 3,717 shares of the textile maker’s stock valued at $142,000 after buying an additional 1,425 shares during the last quarter. 91.49% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Christopher Hufnagel sold 2,000 shares of the stock in a transaction on Thursday, April 22nd. The stock was sold at an average price of $40.96, for a total value of $81,920.00. Following the completion of the sale, the insider now directly owns 72,563 shares in the company, valued at approximately $2,972,180.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Amy M. Klimek sold 6,000 shares of the firm’s stock in a transaction dated Monday, April 5th. The shares were sold at an average price of $37.82, for a total value of $226,920.00. Following the completion of the transaction, the vice president now directly owns 32,589 shares in the company, valued at $1,232,515.98. The disclosure for this sale can be found here. Insiders sold 20,380 shares of company stock worth $786,539 in the last 90 days. 4.88% of the stock is currently owned by insiders.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 2nd. Investors of record on Thursday, July 1st will be issued a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, June 30th. This represents a $0.40 annualized dividend and a yield of 1.03%. Wolverine World Wide’s payout ratio is 17.78%.
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. The company operates through two segments, Wolverine Michigan Group and Wolverine Boston Group.
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