Wall Street Zen Downgrades Wolverine World Wide (NYSE:WWW) to Hold

Wolverine World Wide (NYSE:WWW) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday, Wall Street Zen reports.

Several other research firms have also issued reports on WWW. KeyCorp reissued an “overweight” rating and set a $25.00 price target on shares of Wolverine World Wide in a report on Thursday, August 13th. Needham & Company LLC lifted their price objective on Wolverine World Wide from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. Seaport Research Partners reissued a “buy” rating and issued a $30.00 target price on shares of Wolverine World Wide in a report on Friday, August 14th. Zacks Research lowered shares of Wolverine World Wide from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. Finally, Williams Trading set a $20.00 target price on shares of Wolverine World Wide in a research note on Wednesday, August 19th. Five analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $23.11.

Wolverine World Wide Stock Up 0.2%

WWW opened at $19.10 on Friday. The company has a current ratio of 1.55, a quick ratio of 0.98 and a debt-to-equity ratio of 1.17. Wolverine World Wide has a 1-year low of $13.47 and a 1-year high of $28.68. The company has a market capitalization of $1.57 billion, a PE ratio of 14.81, a PEG ratio of 1.29 and a beta of 1.72. The firm’s 50 day simple moving average is $19.63 and its two-hundred day simple moving average is $17.84.

Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings results on Thursday, August 13th. The textile maker reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.02. The business had revenue of $506.40 million for the quarter, compared to analysts’ expectations of $500.74 million. Wolverine World Wide had a net margin of 5.55% and a return on equity of 28.50%. The company’s revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.32 EPS. Wolverine World Wide has set its FY 2026 guidance at 1.550-1.650 EPS. As a group, equities analysts forecast that Wolverine World Wide will post 1.64 EPS for the current year.

Hedge Funds Weigh In On Wolverine World Wide

Institutional investors have recently bought and sold shares of the stock. NewEdge Advisors LLC increased its holdings in Wolverine World Wide by 1,959.4% in the 2nd quarter. NewEdge Advisors LLC now owns 20,594 shares of the textile maker’s stock valued at $340,000 after acquiring an additional 19,594 shares during the last quarter. Corient Private Wealth LP boosted its holdings in shares of Wolverine World Wide by 333.9% during the 2nd quarter. Corient Private Wealth LP now owns 47,399 shares of the textile maker’s stock valued at $784,000 after purchasing an additional 36,476 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Wolverine World Wide during the second quarter valued at about $422,000. Wellington Management Group LLP grew its position in shares of Wolverine World Wide by 3.4% during the second quarter. Wellington Management Group LLP now owns 4,528,278 shares of the textile maker’s stock valued at $74,852,000 after purchasing an additional 146,791 shares in the last quarter. Finally, Caitlin John LLC purchased a new position in shares of Wolverine World Wide during the second quarter valued at about $56,000. 90.25% of the stock is owned by hedge funds and other institutional investors.

Wolverine World Wide Company Profile

Wolverine World Wide, Inc is a global designer, manufacturer, marketer and licensor of branded footwear, apparel and accessories. The company serves consumers through a portfolio of outdoor, athletic, lifestyle and work-oriented brands, with products sold through wholesale accounts, company-owned and third-party retail locations, and e-commerce channels.

Its principal brands include Merrell, which focuses on outdoor and trail footwear and apparel; Saucony, an athletic running and performance brand; Wolverine, known for work and lifestyle footwear; Chaco, which offers outdoor sandals and footwear; Sweaty Betty, a women’s activewear brand; and Bates, a provider of uniform and duty footwear.