Wolverine World Wide Inc. (NYSE: WWW) stock fell -2.09% on Tuesday to $14.03 against a previous-day closing price of $14.33. With 1.09 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.54 million shares. During the session, the Footwear & Accessories company that operates in wider Consumer Cyclical sector, reached to the highest price of $14.45 whereas the lowest price it dropped to was $13.98. The 52-week range on WWW shows that it touched its highest point at $27.43 and its lowest point at $9.60 during that stretch. It currently has a 1-year price target of $14.29. With its current market cap of 1.09 billion, WWW has annualized dividend of $0.40 while the current yield stands at 2.85%. Beta for the stock currently stands at 1.59.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of WWW was up-trending over the past week, with a rise of 1.37%, but this was up by 38.36% over a month. Three-month performance dropped to -14.71% while six-month performance fell -37.06%. The stock lost -44.61% in the past year, while it has gained 28.36% so far this year. A look at the trailing 12-month EPS for WWW yields 1.95 with Next year EPS estimates of 1.63. For the next quarter, that number is -0.13. This implies an EPS growth rate of 147.70% for this year and 13.30% for next year. EPS is expected to grow by 5.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -1.90%.
Float and Shares Shorts:
At present, 78.70 million WWW shares are outstanding with a float of 76.67 million shares on hand for trading. On Oct 13, 2022, short shares totaled 4.09 million, which was 5.20% higher than short shares on Sep 14, 2022. In addition to Mr. Blake W. Krueger as the firm’s Exec. Chairman, Mr. Brendan L. Hoffman serves as its CEO, Pres & Director.
Through their ownership of 101.16% of WWW’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 8.05% of WWW, in contrast to 52.94% held by mutual funds. Shares owned by individuals account for 45.72%. As the largest shareholder in WWW with 14.37% of the stake, BlackRock Fund Advisors holds 11,315,893 shares worth 11,315,893. A second-largest stockholder of WWW, The Vanguard Group, Inc., holds 8,917,092 shares, controlling over 11.32% of the firm’s shares. EARNEST Partners LLC is the third largest shareholder in WWW, holding 7,134,567 shares or 9.06% stake. With a 7.39% stake in WWW, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 5,815,798 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 3.00% of WWW stock, is the second-largest Mutual Fund holder. It holds 2,361,607 shares valued at 25.81 million. Vanguard Small Cap Index Fund holds 2.58% of the stake in WWW, owning 2,029,193 shares worth 22.18 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for WWW since 9 analysts follow the stock currently. There are 2 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 7 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With WWW analysts setting a high price target of $19.00 and a low target of $11.00, the average target price over the next 12 months is $14.29. Based on these targets, WWW could surge 35.42% to reach the target high and fall by -21.6% to reach the target low. Reaching the average price target will result in a growth of 1.85% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. WWW will report FY 2022 earnings on 02/21/2024. Analysts have provided yearly estimates in a range of $1.50 being high and $1.41 being low. For WWW, this leads to a yearly average estimate of $1.43. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Wolverine World Wide Inc. surprised analysts by -$0.07 when it reported $0.48 EPS against a consensus estimate of $0.55. The surprise factor in the prior quarter was $0.02. Based on analyst estimates, the high estimate for the next quarter is -$0.14 and the low estimate is -$0.15. The average estimate for the next quarter is thus -$0.15.
Summary of Insider Activity:
Insiders traded WWW stock several times over the past three months with 6 Buys and 3 Sells. In these transactions, 124,758 shares were bought while 7,132 shares were sold. The number of buy transactions has increased to 50 while that of sell transactions has risen to 44 over the past year. The total number of shares bought during that period was 519,821 while 193,452 shares were sold.