Wolverine World Wide, Inc. (NYSE:WWW) Receives Consensus Rating of “Moderate Buy” from Brokerages

Wolverine World Wide, Inc. (NYSE:WWW) has been given a consensus recommendation of “Moderate Buy” by the ten brokerages that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $21.7143.

A number of brokerages have issued reports on WWW. Stifel Nicolaus set a $25.00 target price on Wolverine World Wide in a report on Thursday, November 6th. KeyCorp reduced their price target on Wolverine World Wide from $32.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. Robert W. Baird decreased their price target on shares of Wolverine World Wide from $35.00 to $23.00 and set an “outperform” rating for the company in a research report on Thursday, November 6th. Telsey Advisory Group reiterated a “market perform” rating and set a $18.00 price target (down previously from $29.00) on shares of Wolverine World Wide in a report on Wednesday, November 5th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Wolverine World Wide in a research note on Monday, December 29th.

Insider Buying and Selling

In other Wolverine World Wide news, insider Amy M. Klimek sold 11,528 shares of the company’s stock in a transaction 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 legal filing with the SEC, which is available at the SEC website. Also, Director Jack Boyle bought 6,250 shares of the business’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 transaction, the director owned 6,250 shares in the company, 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 purchased 33,250 shares of company stock valued at $524,573 in the last ninety days. Insiders own 2.28% of the company’s stock.

Institutional Investors Weigh In On Wolverine World Wide

A number of hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada grew its position in shares of Wolverine World Wide by 295.7% during the 1st quarter. Royal Bank of Canada now owns 33,055 shares of the textile maker’s stock worth $460,000 after buying an additional 24,701 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Wolverine World Wide by 5.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,480 shares of the textile maker’s stock worth $660,000 after acquiring an additional 2,321 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Wolverine World Wide by 55.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,504,571 shares of the textile maker’s stock worth $20,929,000 after purchasing an additional 537,854 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Wolverine World Wide by 13.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 227,688 shares of the textile maker’s stock valued at $3,167,000 after purchasing an additional 26,870 shares in the last quarter. Finally, Intech Investment Management LLC raised 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 purchasing an additional 166,692 shares during the period. 90.25% of the stock is currently owned by institutional investors.

Wolverine World Wide Price Performance

Shares of WWW stock opened at $19.03 on Friday. The stock’s fifty day moving average is $17.37 and its 200-day moving average is $22.84. The stock has a market capitalization of $1.56 billion, a PE ratio of 18.29 and a beta of 1.92. Wolverine World Wide has a 52 week low of $9.58 and a 52 week high of $32.80. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.79 and a current ratio of 1.34.

Wolverine World Wide (NYSE:WWW) last issued its earnings results 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 company’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the business posted $0.28 earnings per share. Wolverine World Wide has set its FY 2025 guidance at 1.290-1.340 EPS. Equities research analysts expect that Wolverine World Wide will post 1.23 EPS for the current fiscal year.

Wolverine World Wide Announces Dividend

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

About Wolverine World Wide

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.