Wolverine World Wide, Inc. (NYSE:WWW) – Equities research analysts at DA Davidson cut their Q1 2018 EPS estimates for shares of Wolverine World Wide in a research note issued to investors on Thursday. DA Davidson analyst A. Burns now forecasts that the textile maker will earn $0.37 per share for the quarter, down from their prior estimate of $0.51. DA Davidson currently has a “Buy” rating and a $36.00 target price on the stock. DA Davidson also issued estimates for Wolverine World Wide’s Q2 2018 earnings at $0.50 EPS.
A number of other research analysts have also issued reports on WWW. Pivotal Research set a $33.00 price objective on shares of Wolverine World Wide and gave the company a “hold” rating in a report on Thursday. Citigroup raised their price objective on shares of Wolverine World Wide from $32.00 to $33.00 and gave the company a “neutral” rating in a report on Thursday. Zacks Investment Research upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a report on Thursday, February 15th. Telsey Advisory Group raised their price objective on shares of Wolverine World Wide from $29.00 to $30.00 and gave the company a “market perform” rating in a report on Thursday, November 9th. Finally, Buckingham Research raised their price objective on shares of Wolverine World Wide from $24.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday, November 9th. Ten investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $28.88.
Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings data on Wednesday, February 21st. The textile maker reported $0.41 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.41. The business had revenue of $578.60 million during the quarter, compared to analyst estimates of $579.87 million. Wolverine World Wide had a net margin of 0.01% and a return on equity of 16.20%. The firm’s quarterly revenue was down 20.7% on a year-over-year basis. During the same quarter last year, the business earned $0.34 EPS.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 1st. Shareholders of record on Monday, April 2nd will be issued a dividend of $0.08 per share. This is a positive change from Wolverine World Wide’s previous quarterly dividend of $0.06. The ex-dividend date is Thursday, March 29th. This represents a $0.32 annualized dividend and a yield of 1.08%. Wolverine World Wide’s dividend payout ratio (DPR) is presently -800.00%.
In other Wolverine World Wide news, Director Joseph R. Gromek sold 18,928 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $29.14, for a total transaction of $551,561.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.65% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Xact Kapitalforvaltning AB bought a new position in Wolverine World Wide during the 4th quarter worth approximately $310,000. BRYN MAWR TRUST Co raised its holdings in Wolverine World Wide by 0.9% during the 4th quarter. BRYN MAWR TRUST Co now owns 227,180 shares of the textile maker’s stock worth $7,242,000 after purchasing an additional 2,134 shares during the last quarter. MetLife Investment Advisors LLC bought a new position in Wolverine World Wide during the 4th quarter worth approximately $1,336,000. Millennium Management LLC raised its holdings in Wolverine World Wide by 92.1% during the 4th quarter. Millennium Management LLC now owns 33,336 shares of the textile maker’s stock worth $1,063,000 after purchasing an additional 15,986 shares during the last quarter. Finally, Meadow Creek Investment Management LLC raised its holdings in Wolverine World Wide by 29.6% during the 4th quarter. Meadow Creek Investment Management LLC now owns 14,450 shares of the textile maker’s stock worth $461,000 after purchasing an additional 3,298 shares during the last quarter. Hedge funds and other institutional investors own 93.12% of the company’s stock.
Wolverine World Wide Company Profile
Wolverine World Wide, Inc is a designer, manufacturer and marketer of a range of casual footwear and apparel, outdoor and athletic footwear and apparel, children’s footwear, industrial work boots and apparel, and uniform shoes and boots. It operates in four segments: Wolverine Outdoor & Lifestyle Group, which offers Merrell footwear and apparel, Cat footwear, Hush Puppies footwear and apparel, and Chaco footwear; Wolverine Boston Group, which offers Sperry footwear and apparel, Saucony footwear and apparel, and Keds footwear and apparel; Wolverine Heritage Group, which offers Wolverine footwear and apparel, Bates uniform footwear, Harley-Davidson footwear and HyTest safety footwear, and Wolverine Multi-Brand Group, which offers Stride Rite footwear and apparel, and its multi-brand consumer-direct businesses.
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