Telsey Advisory Group Estimates WWW FY2024 Earnings

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 report released 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 forecast of $0.85. Telsey Advisory Group has a “Market Perform” rating and a $15.00 price objective 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 research firms have also recently issued reports on WWW. Robert W. Baird lifted their target price on shares of Wolverine World Wide from $13.00 to $15.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Argus upgraded shares of Wolverine World Wide to a “hold” rating in a report on Friday, August 16th. BNP Paribas raised 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 report on Thursday, October 3rd. Piper Sandler reaffirmed an “overweight” rating and issued a $18.00 price target on shares of Wolverine World Wide in a research report on Friday, August 23rd. Finally, KeyCorp raised Wolverine World Wide from a “sector weight” rating to an “overweight” rating and set a $20.00 price objective on the stock in a report on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Wolverine World Wide presently has an average rating of “Moderate Buy” and a consensus price target of $18.00.

Wolverine World Wide Trading Down 0.9 %

Shares of NYSE WWW opened at $22.11 on Monday. The business has a 50 day simple moving average of $16.15 and a 200 day simple moving average of $14.20. Wolverine World Wide has a 52 week low of $7.58 and a 52 week high of $22.60. The stock has a market cap of $1.77 billion, a price-to-earnings ratio of -24.35 and a beta of 1.78. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.74 and a current ratio of 1.23.

Hedge Funds Weigh In On Wolverine World Wide

Several large investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets increased 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 purchasing an additional 22,532 shares during the period. Texas Permanent School Fund Corp increased its holdings in Wolverine World Wide by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 69,168 shares of the textile maker’s stock valued at $775,000 after buying an additional 946 shares during the period. Sei Investments Co. raised its stake in shares of Wolverine World Wide by 1.8% in 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 in the last quarter. ProShare Advisors LLC lifted its holdings in shares of Wolverine World Wide by 7.5% during the 1st quarter. ProShare Advisors LLC now owns 15,708 shares of the textile maker’s stock worth $176,000 after acquiring an additional 1,090 shares during the period. Finally, State Board of Administration of Florida Retirement System boosted its position in shares of Wolverine World Wide by 66.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 36,861 shares of the textile maker’s stock valued at $413,000 after acquiring an additional 14,670 shares in the last quarter. Institutional investors and hedge funds own 90.25% of the company’s stock.

Insider Buying and Selling

In other Wolverine World Wide news, insider Amy M. Klimek sold 10,214 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $20.11, for a total value of $205,403.54. Following the sale, the insider now owns 19,093 shares of the company’s stock, valued at $383,960.23. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, insider Amy M. Klimek sold 10,214 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $20.11, for a total transaction of $205,403.54. Following the completion of the transaction, the insider now directly owns 19,093 shares in the company, valued at $383,960.23. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider David A. Latchana sold 7,706 shares of the firm’s 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 completion of the sale, the insider now owns 13,889 shares in the company, valued at $236,390.78. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 41,920 shares of company stock valued at $866,240. Insiders own 2.28% of the company’s stock.

Wolverine World Wide Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 2nd will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.81%. Wolverine World Wide’s payout ratio is presently -44.94%.

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.