Wolverine World Wide (NYSE:WWW) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen cut shares of Wolverine World Wide (NYSE:WWW) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.

WWW has been the subject of a number of other research reports. Telsey Advisory Group reiterated a “market perform” rating and set a $18.00 target price (down previously from $29.00) on shares of Wolverine World Wide in a report on Wednesday, November 5th. KeyCorp reduced their price target on shares of Wolverine World Wide from $32.00 to $24.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Robert W. Baird dropped their price objective on shares of Wolverine World Wide from $35.00 to $23.00 and set an “outperform” rating for the company in a research report on Thursday, November 6th. Zacks Research lowered shares of Wolverine World Wide from a “hold” rating to a “strong sell” rating in a report on Friday, January 2nd. Finally, UBS Group decreased their price target on shares of Wolverine World Wide from $28.00 to $26.00 and set a “buy” rating for the company in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Wolverine World Wide presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.71.

Wolverine World Wide Stock Up 2.4%

Shares of WWW opened at $19.03 on Friday. Wolverine World Wide has a fifty-two week low of $9.58 and a fifty-two week high of $32.80. The company’s fifty day moving average is $17.37 and its two-hundred day moving average is $22.84. The firm has a market cap of $1.56 billion, a PE ratio of 18.29 and a beta of 1.92. The company has a quick ratio of 0.79, a current ratio of 1.34 and a debt-to-equity ratio of 1.40.

Wolverine World Wide (NYSE:WWW) last issued its earnings results on Wednesday, November 5th. The textile maker reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.03. Wolverine World Wide had a return on equity of 31.43% and a net margin of 4.73%.The business had revenue of $470.30 million for the quarter, compared to analyst estimates of $461.46 million. During the same period last year, the company posted $0.28 EPS. The business’s quarterly revenue was up 6.8% on a year-over-year basis. Wolverine World Wide has set its FY 2025 guidance at 1.290-1.340 EPS. Analysts forecast that Wolverine World Wide will post 1.23 earnings per share for the current year.

Wolverine World Wide Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Friday, January 2nd will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $0.40 annualized dividend and a yield of 2.1%. Wolverine World Wide’s payout ratio is 38.46%.

Insider Activity

In other Wolverine World Wide news, Director Jack Boyle purchased 6,250 shares of Wolverine World Wide stock in a transaction that occurred on Friday, November 7th. The stock was purchased at an average price of $15.77 per share, with a total value of $98,562.50. Following the completion of the acquisition, the director owned 6,250 shares of the company’s stock, valued at approximately $98,562.50. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Amy M. Klimek sold 11,528 shares of Wolverine World Wide stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $22.32, for a total value of $257,304.96. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders purchased 33,250 shares of company stock valued at $524,573. Corporate insiders own 2.28% of the company’s stock.

Institutional Trading of Wolverine World Wide

Several institutional investors have recently added to or reduced their stakes in WWW. Hara Capital LLC acquired a new stake in shares of Wolverine World Wide in the second quarter valued at approximately $30,000. Canada Pension Plan Investment Board bought a new position in Wolverine World Wide in the 2nd quarter worth approximately $34,000. Covestor Ltd increased its position in Wolverine World Wide by 16,025.0% in the 3rd quarter. Covestor Ltd now owns 1,290 shares of the textile maker’s stock valued at $35,000 after acquiring an additional 1,282 shares during the period. Aster Capital Management DIFC Ltd raised its stake in Wolverine World Wide by 1,605.8% during the 3rd quarter. Aster Capital Management DIFC Ltd now owns 2,661 shares of the textile maker’s stock valued at $73,000 after acquiring an additional 2,505 shares in the last quarter. Finally, Hilltop National Bank bought a new stake in Wolverine World Wide during the 2nd quarter valued at $85,000. Institutional investors own 90.25% of the company’s stock.

About Wolverine World Wide

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.