Wolverine World Wide (NYSE:WWW) Upgraded to “Buy” at Wall Street Zen

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

Several other research firms also recently weighed in on WWW. Zacks Research downgraded shares of Wolverine World Wide from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Needham & Company LLC increased their price target on shares of Wolverine World Wide from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. Robert W. Baird lifted their price target on Wolverine World Wide from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Friday, August 14th. UBS Group boosted their price objective on Wolverine World Wide from $29.00 to $31.00 and gave the company a “buy” rating in a report on Friday, August 14th. Finally, KeyCorp restated an “overweight” rating and set a $25.00 price objective on shares of Wolverine World Wide in a research note on Thursday, August 13th. Five investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Wolverine World Wide has a consensus rating of “Hold” and a consensus target price of $23.11.

Wolverine World Wide Stock Up 2.7%

WWW stock opened at $21.00 on Friday. Wolverine World Wide has a twelve month low of $13.47 and a twelve month high of $32.80. The company has a current ratio of 1.55, a quick ratio of 0.98 and a debt-to-equity ratio of 1.17. The company has a market capitalization of $1.72 billion, a P/E ratio of 16.28 and a beta of 1.73. The firm has a 50 day simple moving average of $18.42 and a 200-day simple moving average of $17.52.

Wolverine World Wide (NYSE:WWW) last posted its quarterly earnings results on Thursday, August 13th. The textile maker reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.02. Wolverine World Wide had a net margin of 5.55% and a return on equity of 28.50%. The firm had revenue of $506.40 million for the quarter, compared to analysts’ expectations of $500.74 million. During the same period in the prior year, the company posted $0.32 earnings per share. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. Wolverine World Wide has set its FY 2026 guidance at 1.550-1.650 EPS. On average, equities research analysts predict that Wolverine World Wide will post 1.64 earnings per share for the current fiscal year.

Wolverine World Wide Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Thursday, October 1st will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Thursday, October 1st. Wolverine World Wide’s dividend payout ratio is 31.01%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC lifted its holdings in Wolverine World Wide by 111.8% in the first quarter. Renaissance Technologies LLC now owns 534,045 shares of the textile maker’s stock worth $8,716,000 after acquiring an additional 281,845 shares during the last quarter. Vanguard Group Inc. boosted its stake in Wolverine World Wide by 4.1% in the fourth quarter. Vanguard Group Inc. now owns 8,988,758 shares of the textile maker’s stock valued at $163,146,000 after acquiring an additional 353,808 shares during the period. First Trust Advisors LP grew its holdings in shares of Wolverine World Wide by 262.7% during the first quarter. First Trust Advisors LP now owns 87,190 shares of the textile maker’s stock valued at $1,423,000 after purchasing an additional 63,154 shares during the last quarter. Jupiter Asset Management Ltd. grew its holdings in shares of Wolverine World Wide by 106.7% during the fourth quarter. Jupiter Asset Management Ltd. now owns 1,164,314 shares of the textile maker’s stock valued at $21,132,000 after purchasing an additional 601,059 shares during the last quarter. Finally, Aristotle Capital Boston LLC grew its holdings in shares of Wolverine World Wide by 32.3% during the fourth quarter. Aristotle Capital Boston LLC now owns 702,079 shares of the textile maker’s stock valued at $12,743,000 after purchasing an additional 171,509 shares during the last quarter. 90.25% of the stock is owned by institutional investors and hedge funds.

Wolverine World Wide Company Profile

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.