Wolverine World Wide, Inc. (NYSE:WWW) Receives $23.29 Consensus PT from Analysts

Wolverine World Wide, Inc. (NYSE:WWW) has received a consensus recommendation of “Moderate Buy” from the ten ratings firms that are covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $23.2857.

Several brokerages have recently issued reports on WWW. KeyCorp lowered their price target on Wolverine World Wide from $32.00 to $24.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Piper Sandler restated an “overweight” rating and issued a $25.00 target price (up previously from $20.00) on shares of Wolverine World Wide in a research note on Tuesday, August 5th. Wall Street Zen cut shares of Wolverine World Wide from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Zacks Research cut Wolverine World Wide from a “strong-buy” rating to a “hold” rating in a report on Monday, October 27th. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $18.00 price target (down from $29.00) on shares of Wolverine World Wide in a research report on Wednesday, November 5th.

Wolverine World Wide Stock Down 0.4%

NYSE WWW traded down $0.07 during trading on Friday, hitting $16.21. 458,336 shares of the company traded hands, compared to its average volume of 1,668,453. Wolverine World Wide has a 12 month low of $9.58 and a 12 month high of $32.80. The business has a fifty day simple moving average of $22.25 and a 200 day simple moving average of $22.64. The company has a market capitalization of $1.33 billion, a P/E ratio of 15.89 and a beta of 1.83. The company has a current ratio of 1.24, a quick ratio of 0.75 and a debt-to-equity ratio of 1.58.

Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings data on Wednesday, November 5th. The textile maker reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.03. Wolverine World Wide had a return on equity of 31.99% and a net margin of 4.73%.The business had revenue of $470.30 million for the quarter, compared to analyst estimates of $461.46 million. During the same quarter in the prior year, the firm posted $0.28 EPS. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. Wolverine World Wide has set its FY 2025 guidance at 1.290-1.340 EPS. As a group, sell-side analysts predict that Wolverine World Wide will post 1.23 EPS for the current year.

Wolverine World Wide Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Friday, January 2nd will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $0.40 annualized dividend and a dividend yield of 2.5%. Wolverine World Wide’s payout ratio is 38.46%.

Insiders Place Their Bets

In other news, insider Amy M. Klimek sold 11,528 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $22.32, for a total transaction of $257,304.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Demonty Price acquired 25,000 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The stock was acquired at an average price of $15.77 per share, with a total value of $394,250.00. Following the completion of the transaction, the director directly owned 75,000 shares in the company, valued at $1,182,750. This trade represents a 50.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders acquired 33,250 shares of company stock worth $524,573. 2.28% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Wolverine World Wide

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Hara Capital LLC bought a new position in Wolverine World Wide during the 2nd quarter worth about $30,000. Canada Pension Plan Investment Board acquired a new position in shares of Wolverine World Wide during the second quarter worth about $34,000. Covestor Ltd grew its holdings in shares of Wolverine World Wide by 16,025.0% during the third quarter. Covestor Ltd now owns 1,290 shares of the textile maker’s stock worth $35,000 after buying an additional 1,282 shares in the last quarter. Aster Capital Management DIFC Ltd raised its position in Wolverine World Wide by 1,605.8% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 2,661 shares of the textile maker’s stock valued at $73,000 after buying an additional 2,505 shares during the last quarter. Finally, Hilltop National Bank acquired a new stake in Wolverine World Wide in the 2nd quarter valued at approximately $85,000. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Wolverine World Wide Company Profile

Wolverine World Wide, Inc designs, manufactures, sources, markets, licenses, and distributes footwear, apparel, and accessories in the United States, Europe, the Middle East, Africa, the Asia Pacific, Canada and Latin America. It operates through Active Group and Work Group segments. The company offers casual footwear and apparel; performance outdoor and athletic footwear and apparel; kids' footwear; industrial work boots and apparel; and uniform shoes and boots.