Wolverine World Wide, Inc. (NYSE:WWW) – DA Davidson upped their Q1 2018 earnings per share (EPS) estimates for shares of Wolverine World Wide in a research note issued on Friday. DA Davidson analyst A. Burns now expects that the textile maker will post earnings per share of $0.51 for the quarter, up from their previous forecast of $0.44. DA Davidson also issued estimates for Wolverine World Wide’s Q2 2018 earnings at $0.52 EPS, Q3 2018 earnings at $0.54 EPS, FY2018 earnings at $2.03 EPS and FY2019 earnings at $2.19 EPS.
Other analysts also recently issued research reports about the company. Stifel Nicolaus set a $34.00 price target on Wolverine World Wide and gave the company a “buy” rating in a research note on Saturday, December 16th. Pivotal Research raised Wolverine World Wide from a “hold” rating to a “buy” rating and lifted their price target for the company from $32.00 to $33.00 in a research note on Wednesday, November 8th. TheStreet downgraded Wolverine World Wide from a “b” rating to a “c+” rating in a research note on Wednesday, November 8th. Piper Jaffray Companies reissued a “hold” rating and issued a $26.00 price target on shares of Wolverine World Wide in a research note on Wednesday, November 8th. Finally, Zacks Investment Research downgraded Wolverine World Wide from a “buy” rating to a “hold” rating in a research note on Saturday, January 6th. Ten research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Wolverine World Wide presently has a consensus rating of “Hold” and a consensus target price of $27.25.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 1st. Investors of record on Monday, April 2nd will be given a $0.08 dividend. The ex-dividend date of this dividend is Thursday, March 29th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.07%. This is an increase from Wolverine World Wide’s previous quarterly dividend of $0.06. Wolverine World Wide’s payout ratio is currently 40.00%.
In related news, insider Michael Jeppesen sold 11,807 shares of Wolverine World Wide stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $27.97, for a total value of $330,241.79. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Joseph R. Gromek sold 18,928 shares of Wolverine World Wide stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $29.14, for a total value of $551,561.92. The disclosure for this sale can be found here. 5.65% of the stock is currently owned by insiders.
Institutional investors have recently bought and sold shares of the stock. American International Group Inc. grew its holdings in Wolverine World Wide by 5.7% during the third quarter. American International Group Inc. now owns 75,023 shares of the textile maker’s stock worth $2,164,000 after purchasing an additional 4,014 shares during the period. Shelton Capital Management bought a new position in Wolverine World Wide during the second quarter worth about $265,000. JPMorgan Chase & Co. grew its holdings in Wolverine World Wide by 12.8% during the third quarter. JPMorgan Chase & Co. now owns 1,686,193 shares of the textile maker’s stock worth $48,799,000 after purchasing an additional 191,771 shares during the period. Piedmont Investment Advisors LLC bought a new position in Wolverine World Wide during the second quarter worth about $587,000. Finally, PEAK6 Investments L.P. grew its holdings in Wolverine World Wide by 396.4% during the third quarter. PEAK6 Investments L.P. now owns 13,189 shares of the textile maker’s stock worth $381,000 after purchasing an additional 10,532 shares during the period. Institutional investors and hedge funds own 92.26% of the company’s stock.
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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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