Wolverine World Wide (NYSE:WWW) Cut to “Hold” at Wall Street Zen

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

Other equities analysts have also recently issued research reports about the company. Zacks Research cut Wolverine World Wide from a “hold” rating to a “strong sell” rating in a report on Friday, January 2nd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Wolverine World Wide in a research report on Monday, December 29th. Robert W. Baird lowered their target price on shares of Wolverine World Wide from $35.00 to $23.00 and set an “outperform” rating for the company in a research note on Thursday, November 6th. Telsey Advisory Group restated a “market perform” rating and issued a $18.00 price target (down from $29.00) on shares of Wolverine World Wide in a report on Wednesday, November 5th. Finally, UBS Group reduced their price target on shares of Wolverine World Wide from $28.00 to $26.00 and set a “buy” rating on the stock in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $21.71.

Wolverine World Wide Stock Performance

Shares of NYSE:WWW opened at $18.78 on Friday. The company has a current ratio of 1.34, a quick ratio of 0.79 and a debt-to-equity ratio of 1.40. Wolverine World Wide has a 12 month low of $9.58 and a 12 month high of $32.80. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of 18.05 and a beta of 1.92. The firm’s 50-day moving average is $17.30 and its 200 day moving average is $22.87.

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

Wolverine World Wide Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Friday, January 2nd will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, January 2nd. Wolverine World Wide’s dividend payout ratio is presently 38.46%.

Insider Buying and Selling at Wolverine World Wide

In related news, insider Amy M. Klimek sold 11,528 shares of Wolverine World Wide stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $22.32, for a total transaction of $257,304.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jack Boyle acquired 6,250 shares of Wolverine World Wide stock in a transaction that occurred on Friday, November 7th. The stock was acquired at an average cost of $15.77 per share, with a total value of $98,562.50. Following the purchase, the director directly owned 6,250 shares of the company’s stock, valued at $98,562.50. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 33,250 shares of company stock valued at $524,573 in the last ninety days. Company insiders own 2.28% of the company’s stock.

Institutional Investors Weigh In On Wolverine World Wide

A number of hedge funds have recently made changes to their positions in the stock. Intech Investment Management LLC increased its holdings in shares of Wolverine World Wide by 234.3% during the first quarter. Intech Investment Management LLC now owns 237,841 shares of the textile maker’s stock valued at $3,308,000 after acquiring an additional 166,692 shares in the last quarter. SRS Investment Management LLC acquired a new stake in Wolverine World Wide in the 2nd quarter worth approximately $3,754,000. Federated Hermes Inc. lifted its position in Wolverine World Wide by 23.6% during the 2nd quarter. Federated Hermes Inc. now owns 942,642 shares of the textile maker’s stock worth $17,043,000 after acquiring an additional 180,184 shares during the period. Strs Ohio purchased a new stake in Wolverine World Wide during the 1st quarter valued at about $666,000. Finally, Callodine Capital Management LP grew its stake in Wolverine World Wide by 41.0% during 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 purchasing an additional 1,250,515 shares during the last quarter. 90.25% of the stock is currently owned by hedge funds and other institutional investors.

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.