Wolverine World Wide (NYSE:WWW) Stock Rating Raised to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Wolverine World Wide (NYSE:WWW) from a hold rating to a buy rating in a research note issued to investors on Sunday,Wall Street Zen reports.

A number of other equities research analysts have also weighed in on the stock. Zacks Research lowered shares of Wolverine World Wide from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Robert W. Baird increased their price target on shares of Wolverine World Wide from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Friday, August 14th. KeyCorp restated an “overweight” rating and issued a $25.00 price objective 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. Finally, Williams Trading set a $20.00 target price on Wolverine World Wide in a report on Wednesday, August 19th. Five equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Wolverine World Wide presently has a consensus rating of “Hold” and a consensus price target of $23.11.

Wolverine World Wide Trading Up 0.0%

Shares of WWW opened at $19.20 on Friday. The stock has a market capitalization of $1.58 billion, a P/E ratio of 14.89, a PEG ratio of 1.30 and a beta of 1.69. Wolverine World Wide has a twelve month low of $13.47 and a twelve month high of $27.73. The company has a quick ratio of 0.98, a current ratio of 1.55 and a debt-to-equity ratio of 1.17. The firm has a fifty day simple moving average of $19.67 and a two-hundred day simple moving average of $17.95.

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

Wolverine World Wide Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Thursday, October 1st will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Thursday, October 1st. Wolverine World Wide’s dividend payout ratio (DPR) is 31.01%.

Institutional Investors Weigh In On Wolverine World Wide

Hedge funds have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC increased its position in shares of Wolverine World Wide by 1,959.4% during the second 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 in the last quarter. Corient Private Wealth LP lifted its position in Wolverine World Wide by 333.9% in the 2nd quarter. Corient Private Wealth LP now owns 47,399 shares of the textile maker’s stock valued at $784,000 after acquiring an additional 36,476 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Wolverine World Wide in the 2nd quarter valued at approximately $422,000. Wellington Management Group LLP lifted its position in Wolverine World Wide by 3.4% in the 2nd quarter. Wellington Management Group LLP now owns 4,528,278 shares of the textile maker’s stock valued at $74,852,000 after acquiring an additional 146,791 shares in the last quarter. Finally, Caitlin John LLC purchased a new stake in Wolverine World Wide during the 2nd quarter valued at $56,000. 90.25% of the stock is owned by institutional investors.

About Wolverine World Wide

Wolverine World Wide, Inc is a global footwear and apparel company headquartered in Rockford, Michigan. Founded in 1883, the company designs, manufactures, sources, markets and licenses footwear, clothing and accessories for consumers and workers around the world.

Its brand portfolio includes Merrell, known for outdoor and hiking footwear; Saucony, which focuses on running and athletic shoes; Wolverine, a work and lifestyle brand; Hush Puppies; Chaco; Bates; and other licensed or owned footwear brands.