Wolverine World Wide (NYSE:WWW) Upgraded by Zacks Research to “Strong-Buy” Rating

Zacks Research upgraded shares of Wolverine World Wide (NYSE:WWW) from a hold rating to a strong-buy rating in a research note published on Monday morning,Zacks.com reports.

Other analysts have also issued reports about the stock. Needham & Company LLC assumed coverage on shares of Wolverine World Wide in a research report on Thursday, March 26th. They set a “buy” rating and a $21.00 price target for the company. Weiss Ratings raised Wolverine World Wide from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, June 11th. Robert W. Baird dropped their target price on Wolverine World Wide from $27.00 to $24.00 and set an “outperform” rating for the company in a report on Friday, May 15th. Wall Street Zen upgraded Wolverine World Wide from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Finally, Telsey Advisory Group decreased their price target on Wolverine World Wide from $22.00 to $18.00 and set a “market perform” rating on the stock in a research note on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Wolverine World Wide currently has a consensus rating of “Moderate Buy” and an average target price of $21.75.

Wolverine World Wide Stock Up 1.2%

Shares of WWW opened at $17.20 on Monday. Wolverine World Wide has a 1 year low of $13.47 and a 1 year high of $32.80. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.53 and a quick ratio of 0.89. The stock has a 50 day simple moving average of $16.76 and a two-hundred day simple moving average of $17.31. The firm has a market cap of $1.41 billion, a P/E ratio of 13.87 and a beta of 1.75.

Wolverine World Wide (NYSE:WWW) last posted its quarterly earnings results on Thursday, May 14th. The textile maker reported $0.25 EPS for the quarter, topping the consensus estimate of $0.22 by $0.03. Wolverine World Wide had a net margin of 5.41% and a return on equity of 29.37%. The firm had revenue of $457.60 million for the quarter, compared to the consensus estimate of $448.44 million. During the same period last year, the firm posted $0.18 earnings per share. The business’s revenue was up 11.0% compared to the same quarter last year. Wolverine World Wide has set its FY 2026 guidance at 1.430-1.580 EPS. On average, analysts forecast that Wolverine World Wide will post 1.56 earnings per share for the current fiscal year.

Wolverine World Wide Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Wednesday, July 1st will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $0.40 dividend on an annualized basis and a yield of 2.3%. Wolverine World Wide’s dividend payout ratio is presently 32.26%.

Insider Buying and Selling at Wolverine World Wide

In other news, Director Brenda J. Lauderback sold 5,500 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $15.88, for a total transaction of $87,340.00. Following the transaction, the director directly owned 54,202 shares of the company’s stock, valued at approximately $860,727.76. The trade was a 9.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Clearstead Advisors LLC lifted its position in shares of Wolverine World Wide by 191.8% in the 4th quarter. Clearstead Advisors LLC now owns 1,602 shares of the textile maker’s stock worth $29,000 after purchasing an additional 1,053 shares during the period. Canada Pension Plan Investment Board bought a new position in Wolverine World Wide in the second quarter worth about $34,000. Global Retirement Partners LLC raised its stake in Wolverine World Wide by 2,134.9% in the fourth quarter. Global Retirement Partners LLC now owns 2,883 shares of the textile maker’s stock worth $52,000 after buying an additional 2,754 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in Wolverine World Wide by 68.1% in the fourth quarter. Quadrant Capital Group LLC now owns 3,040 shares of the textile maker’s stock worth $55,000 after buying an additional 1,232 shares during the period. Finally, Archer Investment Corp purchased a new stake in Wolverine World Wide in the first quarter worth about $95,000. 90.25% of the stock is owned by hedge funds and other institutional investors.

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.