Wolverine World Wide Inc. (NYSE: WWW) stock jumped 1.20% on Friday to $8.43 against a previous-day closing price of $8.33. With 1.78 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.1 million shares. During the session, the Footwear & Accessories company that operates in wider Consumer Cyclical sector, reached to the highest price of $8.48 whereas the lowest price it dropped to was $8.28. The 52-week range on WWW shows that it touched its highest point at $19.43 and its lowest point at $7.90 during that stretch. It currently has a 1-year price target of $12.12. With its current market cap of 662.43 million, WWW has annualized dividend of $0.40 while the current yield stands at 4.74%. Beta for the stock currently stands at 1.70.
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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 3.31%, but this was up by 4.07% over a month. Three-month performance dropped to -43.00% while six-month performance fell -49.85%. The stock lost -55.37% in the past year, while it has lost -22.87% so far this year. A look at the trailing 12-month EPS for WWW yields -3.54 with Next year EPS estimates of 1.50. For the next quarter, that number is 0.07. This implies an EPS growth rate of -392.50% for this year and 201.41% 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 -9.71%.
Float and Shares Shorts:
At present, 79.50 million WWW shares are outstanding with a float of 76.97 million shares on hand for trading. On Aug 30, 2023, short shares totaled 4.8 million, which was 6.03% higher than short shares on Jul 30, 2023. In addition to Mr. Christopher E. Hufnagel as the firm’s CEO, Pres & Director, Mr. Michael David Stornant serves as its Exec. VP, CFO, Chief Accounting Officer & Treasurer.
Institutional Ownership:
Through their ownership of 97.34% of WWW’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 8.54% of WWW, in contrast to 57.94% held by mutual funds. Shares owned by individuals account for 37.33%. As the largest shareholder in WWW with 14.50% of the stake, BlackRock Fund Advisors holds 11,528,348 shares worth 11,528,348. A second-largest stockholder of WWW, Fidelity Management & Research Co, holds 10,280,392 shares, controlling over 12.93% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in WWW, holding 8,960,598 shares or 11.27% stake. With a 7.11% stake in WWW, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 5,656,471 shares are owned by the mutual fund manager. The Fidelity Low Priced Stock Fund, which owns about 4.80% of WWW stock, is the second-largest Mutual Fund holder. It holds 3,815,446 shares valued at 30.83 million. Vanguard Total Stock Market ETF holds 3.02% of the stake in WWW, owning 2,402,640 shares worth 19.41 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 30, 2023, WWW reported revenue of $713.60M and operating income of $77.90M. The EBITDA in the recently reported quarter was $77.30M and diluted EPS was $1.53.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for WWW since 0 analysts follow the stock currently. 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 $13.00 and a low target of $8.00, the average target price over the next 12 months is $10.00. Based on these targets, WWW could surge 54.21% to reach the target high and fall by -5.1% to reach the target low. Reaching the average price target will result in a growth of 18.62% 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.
Summary of Insider Activity:
Insiders traded WWW stock several times over the past three months with 3 Buys and 1 Sells. In these transactions, 7,560 shares were bought while 73 shares were sold. The number of buy transactions has increased to 49 while that of sell transactions has risen to 41 over the past year. The total number of shares bought during that period was 895,053 while 336,654 shares were sold.
