Wolverine World Wide, Inc. (NYSE:WWW) – Equities researchers at B. Riley lifted their Q2 2021 EPS estimates for Wolverine World Wide in a report released on Monday, April 19th. B. Riley analyst S. Anderson now anticipates that the textile maker will post earnings of $0.44 per share for the quarter, up from their prior estimate of $0.40. 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 Q3 2021 earnings at $0.69 EPS.
A number of other research firms have also weighed in on WWW. Robert W. Baird upped their target price on shares of Wolverine World Wide from $42.00 to $44.00 and gave the stock an “outperform” rating in a report on Monday, March 29th. They noted that the move was a valuation call. Telsey Advisory Group upped their target price on shares of Wolverine World Wide from $29.00 to $35.00 and gave the stock a “market perform” rating in a report on Friday, February 26th. Finally, Pivotal Research increased their price target on shares of Wolverine World Wide from $33.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, February 22nd. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $32.45.
Wolverine World Wide (NYSE:WWW) last posted its earnings results on Thursday, February 25th. The textile maker reported $0.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.04. The business had revenue of $509.60 million for the quarter, compared to analyst estimates of $478.97 million. Wolverine World Wide had a net margin of 3.00% and a return on equity of 17.74%.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 3rd. Stockholders of record on Thursday, April 1st will be paid a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, March 31st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.98%. Wolverine World Wide’s dividend payout ratio (DPR) is 17.78%.
In other news, VP Amy M. Klimek sold 1,463 shares of the company’s stock in a transaction on Tuesday, April 20th. The shares were sold at an average price of $38.54, for a total value of $56,384.02. Following the completion of the sale, the vice president now owns 31,458 shares of the company’s stock, valued at approximately $1,212,391.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael A. Volkema sold 6,850 shares of the company’s stock in a transaction on Wednesday, March 10th. The shares were sold at an average price of $38.15, for a total transaction of $261,327.50. Insiders sold a total of 18,280 shares of company stock valued at $700,420 in the last ninety days. 4.88% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Integrated Investment Consultants LLC boosted its position in Wolverine World Wide by 20.0% during the 1st quarter. Integrated Investment Consultants LLC now owns 10,786 shares of the textile maker’s stock valued at $413,000 after buying an additional 1,794 shares during the period. Oregon Public Employees Retirement Fund boosted its position in Wolverine World Wide by 2.1% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 33,516 shares of the textile maker’s stock valued at $1,284,000 after buying an additional 700 shares during the period. First Bank & Trust boosted its position in Wolverine World Wide by 62.2% during 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 period. FDx Advisors Inc. purchased a new stake in Wolverine World Wide during the 1st quarter valued at $305,000. Finally, Everence Capital Management Inc. purchased a new stake in Wolverine World Wide during the 1st quarter valued at $517,000. 91.49% of the stock is owned by institutional investors and hedge funds.
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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