Wolverine World Wide, Inc. (NYSE:WWW) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Wolverine World Wide, Inc. (NYSE:WWW) have been given an average rating of “Moderate Buy” by the ten research firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $21.7143.

A number of research firms have issued reports on WWW. KeyCorp cut their price target on Wolverine World Wide from $32.00 to $24.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. Wall Street Zen cut Wolverine World Wide from a “buy” rating to a “hold” rating in a research report on Saturday. Zacks Research downgraded Wolverine World Wide from a “hold” rating to a “strong sell” rating in a report on Friday, January 2nd. Weiss Ratings restated a “hold (c-)” rating on shares of Wolverine World Wide in a research note on Monday, December 29th. Finally, UBS Group cut their price objective on shares of Wolverine World Wide from $28.00 to $26.00 and set a “buy” rating on the stock in a report on Thursday.

Insiders Place Their Bets

In related news, insider Amy M. Klimek sold 11,528 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $22.32, for a total transaction of $257,304.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jack Boyle purchased 6,250 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were acquired at an average price of $15.77 per share, for a total transaction of $98,562.50. Following the completion of the acquisition, the director directly owned 6,250 shares of the company’s stock, valued at $98,562.50. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders purchased 33,250 shares of company stock valued at $524,573. Insiders own 2.28% of the company’s stock.

Institutional Trading of Wolverine World Wide

Several hedge funds have recently added to or reduced their stakes in the stock. Oxbow Capital Management HK Ltd purchased a new position in shares of Wolverine World Wide during the 3rd quarter valued at $54,431,000. Hennessy Advisors Inc. bought a new stake in Wolverine World Wide in the 3rd quarter valued at about $36,556,000. Callodine Capital Management LP raised its stake in Wolverine World Wide by 41.0% in the 2nd quarter. Callodine Capital Management LP now owns 4,297,586 shares of the textile maker’s stock valued at $77,700,000 after acquiring an additional 1,250,515 shares during the period. Alua Capital Management LP purchased a new stake in Wolverine World Wide during the third quarter valued at about $33,231,000. Finally, Portolan Capital Management LLC bought a new position in Wolverine World Wide during the third quarter worth about $21,859,000. Institutional investors own 90.25% of the company’s stock.

Wolverine World Wide Trading Up 2.4%

NYSE WWW opened at $19.03 on Friday. 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 has a 52 week low of $9.58 and a 52 week high of $32.80. The business has a 50 day moving average price of $17.37 and a 200-day moving average price of $22.84. The company has a market cap of $1.56 billion, a price-to-earnings ratio of 18.29 and a beta of 1.92.

Wolverine World Wide (NYSE:WWW) last released its quarterly earnings data on Wednesday, November 5th. The textile maker reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.03. The firm had revenue of $470.30 million for the quarter, compared to analyst estimates of $461.46 million. Wolverine World Wide had a net margin of 4.73% and a return on equity of 31.43%. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period last year, the firm earned $0.28 earnings per share. Wolverine World Wide has set its FY 2025 guidance at 1.290-1.340 EPS. As a group, equities analysts expect that Wolverine World Wide will post 1.23 earnings per share for the current fiscal year.

Wolverine World Wide Dividend Announcement

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

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.