Argus Reaffirms Hold Rating for Wolverine World Wide (NYSE:WWW)

Wolverine World Wide (NYSE:WWW)‘s stock had its “hold” rating restated by equities research analysts at Argus in a research report issued to clients and investors on Friday, MarketBeat reports.

Other research analysts also recently issued research reports about the stock. Telsey Advisory Group restated a “market perform” rating and issued a $18.00 price target (down previously from $29.00) on shares of Wolverine World Wide in a research report on Wednesday, November 5th. Wall Street Zen lowered shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Exane BNP Paribas downgraded Wolverine World Wide from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $38.00 to $19.00 in a report on Thursday. Stifel Nicolaus set a $25.00 price objective on Wolverine World Wide in a research note on Thursday, November 6th. Finally, KeyCorp cut their target price on 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. Four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Wolverine World Wide has a consensus rating of “Hold” and an average target price of $21.11.

Wolverine World Wide Trading Down 6.6%

NYSE WWW opened at $18.01 on Friday. The company has a market cap of $1.48 billion, a price-to-earnings ratio of 17.32 and a beta of 1.92. Wolverine World Wide has a twelve month low of $9.58 and a twelve month high of $32.80. The company has a quick ratio of 0.79, a current ratio of 1.34 and a debt-to-equity ratio of 1.40. The business’s fifty day moving average is $17.71 and its 200 day moving average is $22.82.

Wolverine World Wide (NYSE:WWW) last posted its earnings results on Wednesday, November 5th. The textile maker reported $0.36 EPS for the quarter, beating 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 firm had revenue of $470.30 million during the quarter, compared to the consensus estimate of $461.46 million. During the same period last year, the company earned $0.28 earnings per share. 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. As a group, sell-side analysts expect that Wolverine World Wide will post 1.23 EPS for the current fiscal year.

Insider Transactions at Wolverine World Wide

In other Wolverine World Wide news, Director Demonty Price purchased 25,000 shares of Wolverine World Wide stock in a transaction that occurred on Friday, November 7th. The stock was acquired at an average price of $15.77 per share, with a total value of $394,250.00. Following the transaction, the director owned 75,000 shares in the company, valued at $1,182,750. This trade represents a 50.00% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Nicholas T. Long purchased 2,000 shares of the firm’s stock in a transaction on Friday, November 7th. The shares were acquired at an average price of $15.88 per share, with a total value of $31,760.00. Following the purchase, the director directly owned 78,268 shares in the company, valued at $1,242,895.84. This represents a 2.62% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders bought 33,250 shares of company stock worth $524,573. 2.28% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Wolverine World Wide

A number of institutional investors and hedge funds have recently made changes to their positions in WWW. Maryland State Retirement & Pension System raised its stake in shares of Wolverine World Wide by 1.9% during the second quarter. Maryland State Retirement & Pension System now owns 23,818 shares of the textile maker’s stock worth $431,000 after acquiring an additional 453 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in shares of Wolverine World Wide by 5.1% in the 2nd quarter. Teacher Retirement System of Texas now owns 12,300 shares of the textile maker’s stock valued at $222,000 after purchasing an additional 595 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Wolverine World Wide by 1.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 58,586 shares of the textile maker’s stock valued at $1,059,000 after purchasing an additional 599 shares during the last quarter. Sheets Smith Wealth Management grew its holdings in shares of Wolverine World Wide by 5.1% during the 2nd quarter. Sheets Smith Wealth Management now owns 13,032 shares of the textile maker’s stock valued at $236,000 after purchasing an additional 628 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its position in Wolverine World Wide by 1.3% in the 2nd quarter. Thrivent Financial for Lutherans now owns 59,742 shares of the textile maker’s stock worth $1,074,000 after purchasing an additional 782 shares during the period. Institutional investors and hedge funds own 90.25% of the company’s stock.

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.