Wolverine World Wide, Inc. (NYSE: WWW) stock jumped 3.23% on Friday to $8.62 against a previous-day closing price of $8.35. With 0.97 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.15 million shares. During the session, the Footwear & Accessories company that operates in wider Consumer Cyclical sector, reached to the highest price of $8.66 whereas the lowest price it dropped to was $8.28. The 52-week range on WWW shows that it touched its highest point at $17.85 and its lowest point at $7.21 during that stretch. It currently has a 1-year price target of $9.00. With its current market cap of 685.55 million, WWW has annualized dividend of $0.41 while the current yield stands at 4.73%. Beta for the stock currently stands at 1.65.
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 2.74%, but this was up by 4.87% over a month. Three-month performance surged to 4.48% while six-month performance fell -41.28%. The stock lost -22.20% in the past year, while it has lost -21.13% so far this year. A look at the trailing 12-month EPS for WWW yields -3.92 with Next year EPS estimates of 0.86. For the next quarter, that number is -0.27. This implies an EPS growth rate of -94.74% for this year and 1060.53% for next year.
Float and Shares Shorts:
At present, 78.79 million WWW shares are outstanding with a float of 76.94 million shares on hand for trading. On Oct 30, 2023, short shares totaled 4.95 million, which was 6.22% higher than short shares on Sep 28, 2023. In addition to Mr. Christopher E. Hufnagel as the firm’s CEO, President & Director, Mr. Michael David Stornant serves as its Executive 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 56.71% held by mutual funds. Shares owned by individuals account for 35.91%. As the largest shareholder in WWW with 14.13% of the stake, BlackRock Fund Advisors holds 11,237,750 shares worth 11,237,750. A second-largest stockholder of WWW, Fidelity Management & Research Co, holds 10,290,118 shares, controlling over 12.94% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in WWW, holding 9,054,996 shares or 11.39% stake. With a 6.72% stake in WWW, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 5,343,985 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 30.71 million. Vanguard Total Stock Market ETF holds 3.02% of the stake in WWW, owning 2,402,640 shares worth 19.34 million.
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 $11.00 and a low target of $7.00, the average target price over the next 12 months is $9.00. Based on these targets, WWW could surge 27.61% to reach the target high and fall by -18.79% to reach the target low. Reaching the average price target will result in a growth of 4.41% from current levels.
Summary of Insider Activity:
Insiders traded WWW stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 46 while that of sell transactions has risen to 38 over the past year. The total number of shares bought during that period was 880,295 while 329,522 shares were sold.
