Wolverine World Wide (NYSE:WWW) Rating Lowered to Hold at Wall Street Zen

Wolverine World Wide (NYSE:WWW) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

WWW has been the subject of several other research reports. Robert W. Baird reduced their price target on shares of Wolverine World Wide from $35.00 to $23.00 and set an “outperform” rating for the company in a research report on Thursday, November 6th. 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. UBS Group dropped their price target on shares of Wolverine World Wide from $28.00 to $26.00 and set a “buy” rating on the stock in a research note on Thursday. Zacks Research lowered Wolverine World Wide from a “hold” rating to a “strong sell” rating in a research note on Friday, January 2nd. Finally, Stifel Nicolaus set a $25.00 target price on Wolverine World Wide in a report on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $21.71.

Wolverine World Wide Price Performance

Shares of WWW opened at $19.03 on Friday. The firm has a fifty day simple moving average of $17.37 and a two-hundred day simple moving average of $22.87. The firm has a market cap of $1.56 billion, a PE ratio of 18.29 and a beta of 1.92. The company has a current ratio of 1.34, a quick ratio of 0.79 and a debt-to-equity ratio of 1.40. Wolverine World Wide has a 1-year low of $9.58 and a 1-year high of $32.80.

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, topping the consensus estimate of $0.33 by $0.03. The company had revenue of $470.30 million during the quarter, compared to analyst estimates of $461.46 million. Wolverine World Wide had a return on equity of 31.43% and a net margin of 4.73%.Wolverine World Wide’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.28 earnings per share. Wolverine World Wide has set its FY 2025 guidance at 1.290-1.340 EPS. On average, equities analysts anticipate that Wolverine World Wide will post 1.23 EPS for the current year.

Insiders Place Their Bets

In other Wolverine World Wide news, Director Demonty Price purchased 25,000 shares of the business’s stock in a transaction on Friday, November 7th. The stock was acquired at an average price of $15.77 per share, for a total transaction of $394,250.00. Following the purchase, the director owned 75,000 shares of the company’s stock, valued at approximately $1,182,750. This represents a 50.00% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Amy M. Klimek sold 11,528 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $22.32, for a total value of $257,304.96. The SEC filing for this sale provides additional information. Over the last quarter, insiders have acquired 33,250 shares of company stock worth $524,573. 2.28% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Wolverine World Wide

Large investors have recently made changes to their positions in the company. Maryland State Retirement & Pension System lifted its position in shares of Wolverine World Wide by 1.9% in the second quarter. Maryland State Retirement & Pension System now owns 23,818 shares of the textile maker’s stock worth $431,000 after buying an additional 453 shares in the last quarter. Teacher Retirement System of Texas raised its holdings in shares of Wolverine World Wide by 5.1% during the 2nd quarter. Teacher Retirement System of Texas now owns 12,300 shares of the textile maker’s stock worth $222,000 after acquiring an additional 595 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Wolverine World Wide by 1.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 58,586 shares of the textile maker’s stock worth $1,059,000 after acquiring an additional 599 shares in the last quarter. Sheets Smith Wealth Management boosted its position in shares of Wolverine World Wide by 5.1% during the 2nd quarter. Sheets Smith Wealth Management now owns 13,032 shares of the textile maker’s stock valued at $236,000 after acquiring an additional 628 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its holdings in shares of Wolverine World Wide by 1.3% in the second 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 in the last quarter. 90.25% of the stock is owned by 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.