Wolverine World Wide (NYSE:WWW) Upgraded 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 Saturday.

Other research analysts have also recently issued reports about the company. Robert W. Baird raised their price objective on Wolverine World Wide from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Friday, August 14th. Telsey Advisory Group reissued a “market perform” rating and issued a $21.00 target price on shares of Wolverine World Wide in a research note on Friday, August 14th. Seaport Research Partners restated a “buy” rating and set a $30.00 target price on shares of Wolverine World Wide in a report on Friday, August 14th. UBS Group raised their price target on Wolverine World Wide from $29.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, August 14th. Finally, Needham & Company LLC lifted their price target on Wolverine World Wide from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. Five investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $23.11.

Wolverine World Wide Trading Down 0.4%

WWW stock opened at $20.89 on Friday. The company has a market capitalization of $1.71 billion, a PE ratio of 16.19 and a beta of 1.73. Wolverine World Wide has a one year low of $13.47 and a one year high of $32.80. The company’s 50 day moving average price is $18.48 and its two-hundred day moving average price is $17.54. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.98 and a current ratio of 1.55.

Wolverine World Wide (NYSE:WWW) last announced its quarterly earnings data on Thursday, August 13th. The textile maker reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. Wolverine World Wide had a net margin of 5.55% and a return on equity of 28.50%. The company had revenue of $506.40 million during the quarter, compared to analysts’ expectations of $500.74 million. During the same quarter in the prior year, the company earned $0.32 EPS. The firm’s revenue 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. As a group, analysts predict that Wolverine World Wide will post 1.64 earnings per share for the current fiscal year.

Wolverine World Wide Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Thursday, October 1st will be given a $0.10 dividend. The ex-dividend date of this dividend is Thursday, October 1st. This represents a $0.40 annualized dividend and a dividend yield of 1.9%. Wolverine World Wide’s dividend payout ratio is currently 31.01%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. BlackRock Inc. bought a new position in shares of Wolverine World Wide during the second quarter valued at $204,878,000. California State Teachers Retirement System boosted its stake in Wolverine World Wide by 1,374.6% in the 2nd quarter. California State Teachers Retirement System now owns 1,544,365 shares of the textile maker’s stock worth $25,528,000 after purchasing an additional 1,439,635 shares in the last quarter. Millennium Management LLC boosted its stake in Wolverine World Wide by 1,740.2% in the 4th quarter. Millennium Management LLC now owns 1,204,127 shares of the textile maker’s stock worth $21,855,000 after purchasing an additional 1,138,691 shares in the last quarter. Callodine Capital Management LP grew its position in Wolverine World Wide by 27.8% during 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 purchasing an additional 980,839 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in Wolverine World Wide during the 2nd quarter valued at about $13,557,000. 90.25% of the stock is owned by hedge funds and other 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.