Brokerages Set Wolverine World Wide, Inc. (NYSE:WWW) Target Price at $23.11

Shares of Wolverine World Wide, Inc. (NYSE:WWW) have earned a consensus rating of “Hold” from the eleven brokerages that are currently covering the stock, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $23.1111.

A number of analysts have recently commented on WWW shares. Seaport Research Partners restated a “buy” rating and issued a $30.00 target price on shares of Wolverine World Wide in a research note on Friday, August 14th. Stifel Nicolaus boosted their price target on Wolverine World Wide from $25.00 to $26.00 and gave the company a “buy” rating in a report on Friday, August 14th. Zacks Research lowered Wolverine World Wide from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $21.00 price objective on shares of Wolverine World Wide in a research note on Friday, August 14th. Finally, Robert W. Baird lifted their target price on shares of Wolverine World Wide from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Friday, August 14th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Wolverine World Wide during the 2nd quarter worth about $204,878,000. Callodine Capital Management LP lifted its stake in Wolverine World Wide by 27.8% in the 1st quarter. Callodine Capital Management LP now owns 4,505,165 shares of the textile maker’s stock valued at $73,524,000 after buying an additional 980,839 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in Wolverine World Wide in the 2nd quarter worth about $13,557,000. Manning & Napier Advisors LLC acquired a new stake in Wolverine World Wide in the 2nd quarter worth about $11,571,000. Finally, Jupiter Asset Management Ltd. increased its stake in Wolverine World Wide by 106.7% during the 4th quarter. Jupiter Asset Management Ltd. now owns 1,164,314 shares of the textile maker’s stock worth $21,132,000 after buying an additional 601,059 shares in the last quarter. Hedge funds and other institutional investors own 90.25% of the company’s stock.

Wolverine World Wide Stock Up 2.1%

NYSE:WWW opened at $19.89 on Friday. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.55 and a quick ratio of 0.98. The company’s fifty day moving average price is $19.59 and its 200-day moving average price is $17.78. Wolverine World Wide has a 1-year low of $13.47 and a 1-year high of $29.68. The firm has a market capitalization of $1.63 billion, a P/E ratio of 15.42, a PEG ratio of 1.32 and a beta of 1.72.

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

Wolverine World Wide Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Thursday, October 1st will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $0.40 dividend on an annualized basis and a yield of 2.0%. Wolverine World Wide’s dividend payout ratio is 31.01%.

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.