Wolverine World Wide (NYSE:WWW) Lowered to “Hold” Rating by Zacks Research

Zacks Research lowered shares of Wolverine World Wide (NYSE:WWW) from a strong-buy rating to a hold rating in a report issued on Tuesday,Zacks.com reports.

Several other equities research analysts also recently weighed in on WWW. Weiss Ratings upgraded shares of Wolverine World Wide from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, June 11th. Telsey Advisory Group reduced their price target on shares of Wolverine World Wide from $22.00 to $18.00 and set a “market perform” rating on the stock in a research report on Friday, May 15th. Robert W. Baird lowered their price objective on Wolverine World Wide from $27.00 to $24.00 and set an “outperform” rating for the company in a report on Friday, May 15th. Finally, Wall Street Zen cut Wolverine World Wide from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Five investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $21.75.

Wolverine World Wide Price Performance

Wolverine World Wide stock opened at $19.50 on Tuesday. Wolverine World Wide has a 52-week low of $13.47 and a 52-week high of $32.80. The firm has a fifty day moving average of $17.80 and a 200-day moving average of $17.39. The company has a quick ratio of 0.89, a current ratio of 1.53 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $1.60 billion, a P/E ratio of 15.73 and a beta of 1.73.

Wolverine World Wide (NYSE:WWW) last announced its earnings results on Thursday, May 14th. The textile maker reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.03. Wolverine World Wide had a return on equity of 29.37% and a net margin of 5.41%.The company had revenue of $457.60 million for the quarter, compared to analyst estimates of $448.44 million. During the same period in the prior year, the company posted $0.18 EPS. Wolverine World Wide’s quarterly revenue was up 11.0% on a year-over-year basis. Wolverine World Wide has set its FY 2026 guidance at 1.430-1.580 EPS. As a group, analysts predict that Wolverine World Wide will post 1.56 EPS for the current year.

Wolverine World Wide Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Thursday, October 1st will be paid a $0.10 dividend. The ex-dividend date is Thursday, October 1st. This represents a $0.40 annualized dividend and a dividend yield of 2.1%. Wolverine World Wide’s dividend payout ratio (DPR) is presently 32.26%.

Insider Buying and Selling at Wolverine World Wide

In other news, Director Brenda J. Lauderback sold 5,500 shares of Wolverine World Wide stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $15.88, for a total transaction of $87,340.00. Following the sale, the director owned 54,202 shares of the company’s stock, valued at approximately $860,727.76. The trade was a 9.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Wolverine World Wide

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Thrivent Financial for Lutherans increased its holdings in shares of Wolverine World Wide by 1.3% in the 2nd quarter. Thrivent Financial for Lutherans now owns 59,742 shares of the textile maker’s stock valued at $1,074,000 after purchasing an additional 782 shares during the period. Clearstead Advisors LLC lifted its position in shares of Wolverine World Wide by 191.8% in the fourth quarter. Clearstead Advisors LLC now owns 1,602 shares of the textile maker’s stock worth $29,000 after purchasing an additional 1,053 shares in the last quarter. LPL Financial LLC boosted its holdings in shares of Wolverine World Wide by 8.0% during the fourth quarter. LPL Financial LLC now owns 16,346 shares of the textile maker’s stock worth $297,000 after purchasing an additional 1,217 shares during the period. Quadrant Capital Group LLC boosted its holdings in shares of Wolverine World Wide by 68.1% during the fourth quarter. Quadrant Capital Group LLC now owns 3,040 shares of the textile maker’s stock worth $55,000 after purchasing an additional 1,232 shares during the period. Finally, GAMMA Investing LLC grew its position in Wolverine World Wide by 16.3% during the second quarter. GAMMA Investing LLC now owns 9,505 shares of the textile maker’s stock valued at $157,000 after purchasing an additional 1,333 shares in the last quarter. 90.25% of the stock is owned by institutional investors.

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.