Wolverine World Wide (NYSE:WWW) Downgraded to “Buy” Rating by Wall Street Zen

Wolverine World Wide (NYSE:WWW) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report released on Saturday.

A number of other research analysts have also recently commented on WWW. KeyCorp reduced their price objective on Wolverine World Wide from $32.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday. Piper Sandler reissued an “overweight” rating and set a $25.00 price target (up from $20.00) on shares of Wolverine World Wide in a research report on Tuesday, August 5th. Stifel Nicolaus set a $25.00 price target on Wolverine World Wide in a report on Thursday. UBS Group dropped their price objective on shares of Wolverine World Wide from $39.00 to $28.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Wolverine World Wide in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $23.29.

Wolverine World Wide Price Performance

Wolverine World Wide stock opened at $15.93 on Friday. The firm has a fifty day moving average of $26.87 and a 200-day moving average of $22.46. Wolverine World Wide has a 52-week low of $9.58 and a 52-week high of $32.80. The company has a quick ratio of 0.75, a current ratio of 1.24 and a debt-to-equity ratio of 1.58. The firm has a market capitalization of $1.29 billion, a P/E ratio of 15.61 and a beta of 1.83.

Wolverine World Wide (NYSE:WWW) last posted its earnings results on Wednesday, November 5th. The textile maker reported $0.36 earnings per share for the quarter, beating 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 31.99%. The business had revenue of $470.30 million for the quarter, compared to analyst estimates of $461.46 million. During the same quarter in the previous year, the business posted $0.28 EPS. 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, analysts predict that Wolverine World Wide will post 1.23 EPS for the current year.

Insider Buying and Selling

In related news, Director Nicholas T. Long sold 12,854 shares of the company’s stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $31.84, for a total value of $409,271.36. Following the sale, the director directly owned 76,268 shares of the company’s stock, valued at $2,428,373.12. This represents a 14.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Brenda J. Lauderback sold 12,854 shares of the stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $32.14, for a total transaction of $413,127.56. Following the transaction, the director owned 48,675 shares in the company, valued at $1,564,414.50. This trade represents a 20.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 37,236 shares of company stock worth $1,079,704. Insiders own 2.28% of the company’s stock.

Hedge Funds Weigh In On Wolverine World Wide

Hedge funds have recently bought and sold shares of the company. Hennessy Advisors Inc. acquired a new stake in Wolverine World Wide during the third quarter valued at approximately $36,556,000. Callodine Capital Management LP grew its position in shares of 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 worth $77,700,000 after acquiring an additional 1,250,515 shares in the last quarter. Cooper Creek Partners Management LLC bought a new stake in shares of Wolverine World Wide in the 2nd quarter valued at approximately $10,442,000. Goldman Sachs Group Inc. increased its holdings in shares of Wolverine World Wide by 55.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,504,571 shares of the textile maker’s stock valued at $20,929,000 after acquiring an additional 537,854 shares during the last quarter. Finally, WCM Investment Management LLC raised its position in shares of Wolverine World Wide by 78.2% during the 3rd quarter. WCM Investment Management LLC now owns 1,008,395 shares of the textile maker’s stock valued at $27,499,000 after acquiring an additional 442,649 shares in the last quarter. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Wolverine World Wide Company Profile

Wolverine World Wide, Inc designs, manufactures, sources, markets, licenses, and distributes footwear, apparel, and accessories in the United States, Europe, the Middle East, Africa, the Asia Pacific, Canada and Latin America. It operates through Active Group and Work Group segments. The company offers casual footwear and apparel; performance outdoor and athletic footwear and apparel; kids' footwear; industrial work boots and apparel; and uniform shoes and boots.