Wolverine World Wide, Inc. (NYSE:WWW) issued its quarterly earnings data on Wednesday, August 9th. The textile maker reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.14, Bloomberg Earnings reports. The firm had revenue of $598.80 million during the quarter, compared to analysts’ expectations of $573.78 million. Wolverine World Wide had a return on equity of 15.81% and a net margin of 3.32%. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.26 EPS. Wolverine World Wide updated its FY17 guidance to $1.55-1.65 EPS.
Shares of Wolverine World Wide (WWW) traded down 1.34% on Friday, hitting $25.81. The stock had a trading volume of 774,830 shares. The company has a market cap of $2.49 billion, a price-to-earnings ratio of 30.33 and a beta of 0.94. The stock has a 50 day moving average price of $27.35 and a 200-day moving average price of $25.53. Wolverine World Wide has a 12-month low of $20.58 and a 12-month high of $28.64.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Monday, October 2nd will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend is Friday, September 29th. Wolverine World Wide’s dividend payout ratio is currently 28.24%.
A number of equities research analysts recently weighed in on WWW shares. TheStreet upgraded Wolverine World Wide from a “c+” rating to a “b” rating in a research note on Wednesday, May 10th. Zacks Investment Research upgraded Wolverine World Wide from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research note on Saturday, May 13th. BidaskClub upgraded Wolverine World Wide from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. ValuEngine upgraded Wolverine World Wide from a “hold” rating to a “buy” rating in a research note on Friday, August 11th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and set a $24.00 target price on shares of Wolverine World Wide in a research report on Friday, June 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. Wolverine World Wide currently has a consensus rating of “Hold” and an average price target of $23.86.
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Hedge funds have recently bought and sold shares of the stock. Airain ltd purchased a new stake in Wolverine World Wide during the first quarter valued at $448,000. Dimensional Fund Advisors LP increased its stake in Wolverine World Wide by 5.1% in the first quarter. Dimensional Fund Advisors LP now owns 4,687,149 shares of the textile maker’s stock valued at $117,039,000 after buying an additional 226,965 shares during the last quarter. FMR LLC increased its stake in Wolverine World Wide by 6.8% in the first quarter. FMR LLC now owns 1,937,005 shares of the textile maker’s stock valued at $48,367,000 after buying an additional 123,641 shares during the last quarter. KCG Holdings Inc. increased its stake in Wolverine World Wide by 342.0% in the first quarter. KCG Holdings Inc. now owns 77,112 shares of the textile maker’s stock valued at $1,925,000 after buying an additional 59,666 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in Wolverine World Wide by 25.3% in the first quarter. Wells Fargo & Company MN now owns 114,690 shares of the textile maker’s stock valued at $2,864,000 after buying an additional 23,149 shares during the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.
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, Chaco footwear, and Sebago footwear and apparel; 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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