Wolverine World Wide (NYSE:WWW) Shares Gap Up on Strong Earnings
by Scott Moore · The Cerbat GemWolverine World Wide, Inc. (NYSE:WWW – Get Free Report)’s share price gapped up before the market opened on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $18.06, but opened at $19.62. Wolverine World Wide shares last traded at $20.1350, with a volume of 112,567 shares.
The textile maker reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.02. Wolverine World Wide had a return on equity of 29.37% and a net margin of 5.41%.The firm had revenue of $506.40 million for the quarter, compared to analyst estimates of $500.74 million. During the same quarter in the prior year, the company earned $0.32 earnings per share. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. Wolverine World Wide has set its FY 2026 guidance at 1.550-1.650 EPS.
Wolverine World Wide Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Thursday, October 1st will be given a $0.10 dividend. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $0.40 annualized dividend and a dividend yield of 2.0%. Wolverine World Wide’s dividend payout ratio is presently 32.26%.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on WWW. Wall Street Zen lowered shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Telsey Advisory Group cut their price objective on shares of Wolverine World Wide from $22.00 to $18.00 and set a “market perform” rating for the company in a research report on Friday, May 15th. Weiss Ratings upgraded Wolverine World Wide from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, June 11th. Zacks Research downgraded Wolverine World Wide from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Finally, Robert W. Baird lowered their target price on Wolverine World Wide from $27.00 to $24.00 and set an “outperform” rating on the stock in a research note on Friday, May 15th. Five investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $21.75.
Check Out Our Latest Stock Analysis on Wolverine World Wide
Insider Buying and Selling
In other Wolverine World Wide news, Director Brenda J. Lauderback sold 5,500 shares of the business’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $15.88, for a total value of $87,340.00. Following the completion of the sale, the director owned 54,202 shares of the company’s stock, valued at $860,727.76. The trade was a 9.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.50% of the company’s stock.
Institutional Investors Weigh In On Wolverine World Wide
A number of hedge funds and other institutional investors have recently made changes to their positions in WWW. BlackRock Inc. bought a new stake in shares of Wolverine World Wide in the second quarter valued at approximately $204,878,000. Vanguard Group Inc. lifted its position in shares of Wolverine World Wide by 4.1% during the 4th quarter. Vanguard Group Inc. now owns 8,988,758 shares of the textile maker’s stock valued at $163,146,000 after acquiring an additional 353,808 shares during the period. Callodine Capital Management LP grew its holdings in shares of Wolverine World Wide by 27.8% during the 1st quarter. Callodine Capital Management LP now owns 4,505,165 shares of the textile maker’s stock worth $73,524,000 after purchasing an additional 980,839 shares in the last quarter. State Street Corp grew its holdings in shares of Wolverine World Wide by 2.1% during the 4th quarter. State Street Corp now owns 3,100,339 shares of the textile maker’s stock worth $56,271,000 after purchasing an additional 63,041 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Wolverine World Wide by 3.0% in the fourth quarter. JPMorgan Chase & Co. now owns 2,006,578 shares of the textile maker’s stock worth $36,419,000 after purchasing an additional 59,304 shares during the period. 90.25% of the stock is currently owned by institutional investors and hedge funds.
Wolverine World Wide Stock Up 11.1%
The company has a market cap of $1.65 billion, a P/E ratio of 16.18 and a beta of 1.73. The stock has a 50-day moving average of $17.95 and a 200 day moving average of $17.37. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.53 and a quick ratio of 0.89.
Wolverine World Wide Company Profile
Wolverine World Wide, Inc (NYSE: WWW) is a global footwear and apparel company headquartered in Rockford, Michigan. The company designs, manufactures and markets a diversified portfolio of casual, active and performance lifestyle brands. Wolverine World Wide’s offerings span multiple price points and consumer segments, with products that include outdoor and trail footwear, running shoes, casual sneakers, boat shoes, work boots and related apparel and accessories.
Key brands in Wolverine World Wide’s portfolio include Merrell, an outdoor performance footwear brand; Saucony, known for running shoes and athletic gear; Sperry, which popularized boat shoes; Hush Puppies, a casual and comfort‐oriented line; and Keds, a heritage sneaker label.