Trading Report: Today, Wolverine World Wide Inc. (WWW) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Today, Wolverine World Wide Inc. (WWW) Posts Quarterly  Earnings Results, Beats Expectations By $0.01 EPS

Wolverine World Wide Inc. (NYSE:WWW) announced its earnings results on Tuesday. The company reported $0.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.01. Wolverine World Wide had a net margin of 3.81% and a return on equity of 13.60%.

Shares of Wolverine World Wide (NYSE:WWW) opened at 22.04 on Tuesday. The company has a market capitalization of $2.19 billion, a PE ratio of 22.33 and a beta of 0.76. The stock has a 50 day moving average of $22.91 and a 200-day moving average of $21.09. Wolverine World Wide has a 12-month low of $14.74 and a 12-month high of $25.54.

Several equities research analysts have recently weighed in on the stock. B. Riley reissued a “neutral” rating and issued a $22.00 target price on shares of Wolverine World Wide in a research note on Monday, July 25th. Susquehanna raised shares of Wolverine World Wide from a “neutral” rating to a “positive” rating and increased their target price for the company from $18.00 to $25.00 in a research note on Thursday, July 7th. Zacks Investment Research raised shares of Wolverine World Wide from a “sell” rating to a “hold” rating and set a $27.00 target price on the stock in a research note on Thursday, July 28th. Finally, Argus reissued a “buy” rating on shares of Wolverine World Wide in a research note on Wednesday, August 3rd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. Wolverine World Wide presently has a consensus rating of “Hold” and an average target price of $21.30.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Teachers Advisors Inc. boosted its position in shares of Wolverine World Wide by 1.8% in the second quarter. Teachers Advisors Inc. now owns 155,065 shares of the company’s stock valued at $3,151,000 after buying an additional 2,700 shares during the last quarter. United Services Automobile Association raised its stake in shares of Wolverine World Wide by 2,040.3% in the second quarter. United Services Automobile Association now owns 528,235 shares of the company’s stock valued at $10,734,000 after buying an additional 503,555 shares during the period. State of Wisconsin Investment Board raised its stake in shares of Wolverine World Wide by 22.4% in the second quarter. State of Wisconsin Investment Board now owns 749,743 shares of the company’s stock valued at $15,235,000 after buying an additional 137,000 shares during the period. Cipher Capital LP raised its stake in shares of Wolverine World Wide by 26.3% in the second quarter. Cipher Capital LP now owns 106,326 shares of the company’s stock valued at $2,161,000 after buying an additional 22,117 shares during the period. Finally, Franklin Resources Inc. raised its stake in shares of Wolverine World Wide by 0.8% in the second quarter. Franklin Resources Inc. now owns 1,264,554 shares of the company’s stock valued at $25,696,000 after buying an additional 9,647 shares during the period. 89.66% of the stock is currently owned by hedge funds and other institutional investors.

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