Wolverine World Wide (NYSE:WWW) Now Covered by Analysts at Needham & Company LLC

Needham & Company LLC started coverage on shares of Wolverine World Wide (NYSE:WWW) in a research note published on Thursday morning, Marketbeat.com reports. The firm issued a buy rating and a $21.00 target price on the textile maker’s stock.

A number of other research analysts have also weighed in on WWW. Weiss Ratings restated a “hold (c-)” rating on shares of Wolverine World Wide in a report on Monday, December 29th. Argus reiterated a “hold” rating on shares of Wolverine World Wide in a report on Friday, January 23rd. KeyCorp increased their price target on Wolverine World Wide from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, February 27th. Robert W. Baird raised their price objective on Wolverine World Wide from $23.00 to $27.00 and gave the company an “outperform” rating in a research note on Friday, February 27th. Finally, Zacks Research raised shares of Wolverine World Wide from a “strong sell” rating to a “hold” rating in a report on Friday, February 27th. Five analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Wolverine World Wide has an average rating of “Hold” and an average price target of $22.33.

Wolverine World Wide Stock Down 2.4%

Shares of NYSE WWW opened at $16.46 on Thursday. The stock has a market capitalization of $1.34 billion, a P/E ratio of 14.56 and a beta of 1.88. The company has a 50-day moving average price of $17.56 and a 200-day moving average price of $20.23. Wolverine World Wide has a 1 year low of $9.58 and a 1 year high of $32.80. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.40 and a quick ratio of 0.87.

Wolverine World Wide (NYSE:WWW) last posted its earnings results on Thursday, February 26th. The textile maker reported $0.45 EPS for the quarter, topping the consensus estimate of $0.44 by $0.01. Wolverine World Wide had a net margin of 5.06% and a return on equity of 29.84%. The company had revenue of $517.50 million during the quarter, compared to the consensus estimate of $510.49 million. During the same period in the previous year, the firm posted $0.40 earnings per share. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. Wolverine World Wide has set its FY 2026 guidance at 1.350-1.500 EPS. On average, equities research analysts forecast that Wolverine World Wide will post 1.23 EPS for the current fiscal year.

Wolverine World Wide Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 1st. Stockholders of record on Wednesday, April 1st will be paid a dividend of $0.10 per share. The ex-dividend date is Wednesday, April 1st. This represents a $0.40 annualized dividend and a dividend yield of 2.4%. Wolverine World Wide’s dividend payout ratio is presently 35.40%.

Institutional Investors Weigh In On Wolverine World Wide

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Alua Capital Management LP bought a new stake in Wolverine World Wide during the 3rd quarter valued at $33,231,000. WCM Investment Management LLC lifted its position in shares of Wolverine World Wide by 78.2% during the third quarter. WCM Investment Management LLC now owns 1,008,395 shares of the textile maker’s stock worth $27,499,000 after acquiring an additional 442,649 shares in the last quarter. SRS Investment Management LLC bought a new position in shares of Wolverine World Wide in the second quarter worth $3,754,000. Campbell & CO Investment Adviser LLC bought a new position in shares of Wolverine World Wide in the third quarter worth $4,143,000. Finally, M&G PLC purchased a new position in shares of Wolverine World Wide in the third quarter valued at $10,618,000. 90.25% of the stock is currently owned by 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.