Wolverine World Wide (NYSE:WWW) Upgraded by Seaport Res Ptn to Buy

Seaport Res Ptn upgraded shares of Wolverine World Wide (NYSE:WWW) from a neutral rating to a buy rating in a research report released 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 reiterated a market perform rating and set a $10.00 price target on shares of Wolverine World Wide in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Hold and a consensus target price of $10.63.

Wolverine World Wide Price Performance

Shares of WWW stock opened at $11.42 on Monday. The firm’s 50-day moving average is $10.20 and its two-hundred day moving average is $9.24. Wolverine World Wide has a 12 month low of $7.21 and a 12 month 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 company has a market capitalization of $912.57 million, a PE ratio of -22.39 and a beta of 1.73.

Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings data on Wednesday, February 21st. The textile maker reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.03). The firm had revenue of $526.70 million during the quarter, compared to analyst estimates of $520.12 million. Wolverine World Wide had a negative net margin of 1.77% and a positive return on equity of 1.45%. The company’s quarterly revenue was down 20.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.15) earnings per share. Analysts predict that Wolverine World Wide will post 0.77 earnings per share for the current year.

Wolverine World Wide Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Monday, July 1st will be issued a $0.10 dividend. The ex-dividend date of this dividend is Monday, July 1st. This represents a $0.40 annualized dividend and a yield of 3.50%. Wolverine World Wide’s dividend payout ratio is presently -78.43%.

Hedge Funds Weigh In On Wolverine World Wide

A number of hedge funds have recently bought and sold shares of WWW. GAMMA Investing LLC acquired a new stake in shares of Wolverine World Wide during the 4th quarter valued at approximately $26,000. Central Pacific Bank Trust Division acquired a new stake in shares of Wolverine World Wide during the first quarter worth $81,000. Sherbrooke Park Advisers LLC bought a new position in shares of Wolverine World Wide in the 3rd quarter worth about $93,000. Aristeia Capital LLC acquired a new position 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 shares of Wolverine World Wide during the 4th quarter valued at about $124,000. 90.25% of the stock is currently owned by institutional investors and hedge funds.

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.