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

Wall Street Zen lowered shares of Wolverine World Wide (NYSE:WWW) from a buy rating to a hold rating in a research report sent to investors on Saturday,Wall Street Zen reports.

WWW has been the topic of several other research reports. Robert W. Baird boosted their target price on shares of Wolverine World Wide from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Friday, August 14th. UBS Group raised their price target on shares of Wolverine World Wide from $29.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, August 14th. Zacks Research cut shares of Wolverine World Wide from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. Needham & Company LLC lifted their price objective on shares of Wolverine World Wide from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Wolverine World Wide in a report on Tuesday, September 8th. Five research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Wolverine World Wide presently has a consensus rating of “Hold” and a consensus price target of $23.11.

Wolverine World Wide Trading Down 1.0%

Wolverine World Wide stock opened at $19.10 on Friday. The stock has a 50-day moving average of $19.63 and a two-hundred day moving average of $17.83. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.98 and a current ratio of 1.55. Wolverine World Wide has a one year low of $13.47 and a one year high of $28.68. The stock has a market cap of $1.57 billion, a PE ratio of 14.81, a price-to-earnings-growth ratio of 1.29 and a beta of 1.72.

Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings results on Thursday, August 13th. The textile maker reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. Wolverine World Wide had a return on equity of 28.50% and a net margin of 5.55%.The business had revenue of $506.40 million for the quarter, compared to analyst estimates of $500.74 million. During the same quarter in the previous year, the firm earned $0.32 earnings per share. The company’s 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, research analysts anticipate that Wolverine World Wide will post 1.64 EPS for the current fiscal year.

Wolverine World Wide Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Thursday, October 1st will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.1%. The ex-dividend date is Thursday, October 1st. Wolverine World Wide’s dividend payout ratio is 31.01%.

Hedge Funds Weigh In On Wolverine World Wide

Institutional investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in shares of Wolverine World Wide in the 2nd quarter valued at $204,878,000. Wellington Management Group LLP increased its stake in shares of Wolverine World Wide by 3.4% in the second quarter. Wellington Management Group LLP now owns 4,528,278 shares of the textile maker’s stock worth $74,852,000 after acquiring an additional 146,791 shares during the period. Callodine Capital Management LP raised its holdings in shares of Wolverine World Wide by 27.8% during the first quarter. Callodine Capital Management LP now owns 4,505,165 shares of the textile maker’s stock worth $73,524,000 after purchasing an additional 980,839 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Wolverine World Wide by 21.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,797,577 shares of the textile maker’s stock worth $29,333,000 after purchasing an additional 313,883 shares during the last quarter. Finally, Jupiter Asset Management Ltd. lifted its position in 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 period. 90.25% of the stock is owned by hedge funds and other institutional investors.

Wolverine World Wide Company Profile

Wolverine World Wide, Inc is a global designer, manufacturer, marketer and licensor of branded footwear, apparel and accessories. The company serves consumers through a portfolio of outdoor, athletic, lifestyle and work-oriented brands, with products sold through wholesale accounts, company-owned and third-party retail locations, and e-commerce channels.

Its principal brands include Merrell, which focuses on outdoor and trail footwear and apparel; Saucony, an athletic running and performance brand; Wolverine, known for work and lifestyle footwear; Chaco, which offers outdoor sandals and footwear; Sweaty Betty, a women’s activewear brand; and Bates, a provider of uniform and duty footwear.