Wolverine World Wide, Inc. (NYSE:WWW) – Research analysts at KeyCorp boosted their FY2017 earnings per share (EPS) estimates for shares of Wolverine World Wide in a note issued to investors on Thursday. KeyCorp analyst E. Yruma now anticipates that the textile maker will post earnings of $1.64 per share for the year, up from their prior forecast of $1.63. KeyCorp also issued estimates for Wolverine World Wide’s Q4 2017 earnings at $0.41 EPS, Q2 2018 earnings at $0.50 EPS and Q3 2018 earnings at $0.56 EPS.
Several other research firms have also issued reports on WWW. Zacks Investment Research lowered shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a research report on Saturday, January 6th. Citigroup restated a “neutral” rating and issued a $32.00 price target (up previously from $29.00) on shares of Wolverine World Wide in a research report on Monday. Piper Jaffray Companies restated a “hold” rating and issued a $26.00 price target on shares of Wolverine World Wide in a research report on Wednesday, November 8th. Pivotal Research cut shares of Wolverine World Wide from a “buy” rating to a “hold” rating and set a $33.00 price objective on the stock. in a research report on Friday. Finally, TheStreet cut shares of Wolverine World Wide from a “b” rating to a “c+” rating in a research report on Wednesday, November 8th. Eleven analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Wolverine World Wide has an average rating of “Hold” and an average target price of $27.68.
Wolverine World Wide (WWW) opened at $30.02 on Monday. The company has a debt-to-equity ratio of 0.74, a current ratio of 3.09 and a quick ratio of 2.06. The stock has a market cap of $2,853.20, a P/E ratio of 50.03, a price-to-earnings-growth ratio of 1.18 and a beta of 0.92. Wolverine World Wide has a 12-month low of $23.34 and a 12-month high of $33.82.
A number of hedge funds and other institutional investors have recently bought and sold shares of WWW. FMR LLC grew its position in Wolverine World Wide by 21.7% during the 2nd quarter. FMR LLC now owns 2,357,199 shares of the textile maker’s stock worth $66,025,000 after purchasing an additional 420,194 shares in the last quarter. California Public Employees Retirement System boosted its stake in shares of Wolverine World Wide by 0.9% during the 2nd quarter. California Public Employees Retirement System now owns 191,700 shares of the textile maker’s stock valued at $5,370,000 after buying an additional 1,800 shares during the period. Voya Investment Management LLC boosted its stake in shares of Wolverine World Wide by 184.9% during the 2nd quarter. Voya Investment Management LLC now owns 114,856 shares of the textile maker’s stock valued at $3,217,000 after buying an additional 74,547 shares during the period. Shelton Capital Management acquired a new stake in shares of Wolverine World Wide during the 2nd quarter valued at $265,000. Finally, Janus Henderson Group PLC acquired a new stake in shares of Wolverine World Wide during the 2nd quarter valued at $718,000. Hedge funds and other institutional investors own 92.22% of the company’s stock.
In other Wolverine World Wide news, Director Joseph R. Gromek sold 18,928 shares of Wolverine World Wide 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 legal filing with the SEC, which is available through this hyperlink. Insiders own 5.65% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Shareholders of record on Monday, April 2nd will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.07%. This is a boost from Wolverine World Wide’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Thursday, March 29th. Wolverine World Wide’s payout ratio is presently 40.00%.
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About Wolverine World Wide
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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