Wolverine World Wide (NYSE:WWW) Shares Gap Up After Strong Earnings

Wolverine World Wide, Inc. (NYSE:WWW)’s stock price gapped up before the market opened on Thursday following a better than expected earnings announcement. The stock had previously closed at $15.53, but opened at $16.88. Wolverine World Wide shares last traded at $15.2650, with a volume of 285,149 shares changing hands.

The textile maker reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.03. Wolverine World Wide had a net margin of 5.06% and a return on equity of 29.84%. The company had revenue of $457.60 million for the quarter, compared to analyst estimates of $448.44 million. During the same period in the prior year, the business earned $0.18 EPS. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. Wolverine World Wide has set its FY 2026 guidance at 1.430-1.580 EPS.

Wolverine World Wide Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Wednesday, July 1st will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Wednesday, July 1st. Wolverine World Wide’s dividend payout ratio (DPR) is presently 35.40%.

Analyst Ratings Changes

Several brokerages have weighed in on WWW. Wall Street Zen downgraded Wolverine World Wide from a “buy” rating to a “hold” rating in a report on Saturday, April 25th. KeyCorp boosted their price objective on Wolverine World Wide from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, February 27th. Robert W. Baird upped their target price on shares of Wolverine World Wide from $23.00 to $27.00 and gave the stock an “outperform” rating in a research note on Friday, February 27th. Argus reaffirmed a “hold” rating on shares of Wolverine World Wide in a report on Friday, January 23rd. Finally, Zacks Research upgraded shares of Wolverine World Wide from a “strong sell” rating to a “hold” rating in a research note on Friday, February 27th. Five equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $22.33.

Institutional Investors Weigh In On Wolverine World Wide

Several hedge funds and other institutional investors have recently made changes to their positions in WWW. Oxbow Capital Management HK Ltd purchased a new stake in Wolverine World Wide during the third quarter worth approximately $54,431,000. Alua Capital Management LP purchased a new position in Wolverine World Wide in the third quarter valued at approximately $33,231,000. Massachusetts Financial Services Co. MA purchased a new position in Wolverine World Wide in the fourth quarter valued at approximately $21,687,000. Millennium Management LLC raised its holdings in Wolverine World Wide by 1,740.2% during the fourth quarter. Millennium Management LLC now owns 1,204,127 shares of the textile maker’s stock worth $21,855,000 after purchasing an additional 1,138,691 shares in the last quarter. Finally, Callodine Capital Management LP raised its holdings in Wolverine World Wide by 30.5% during the fourth quarter. Callodine Capital Management LP now owns 3,524,326 shares of the textile maker’s stock worth $63,967,000 after purchasing an additional 822,966 shares in the last quarter. Institutional investors and hedge funds own 90.25% of the company’s stock.

Wolverine World Wide Stock Down 7.2%

The firm has a market cap of $1.18 billion, a PE ratio of 12.92 and a beta of 1.75. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.87 and a current ratio of 1.40. The firm’s 50-day moving average price is $16.80 and its two-hundred day moving average price is $17.66.

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.