Summit Global Investments Makes New Investment in Wolverine World Wide, Inc. $WWW

Summit Global Investments purchased a new stake in Wolverine World Wide, Inc. (NYSE:WWW) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 51,182 shares of the textile maker’s stock, valued at approximately $978,000. Summit Global Investments owned approximately 0.06% of Wolverine World Wide at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in shares of Wolverine World Wide during the 2nd quarter valued at about $204,878,000. Callodine Capital Management LP lifted its position in shares of Wolverine World Wide by 27.8% during the first quarter. Callodine Capital Management LP now owns 4,505,165 shares of the textile maker’s stock worth $73,524,000 after purchasing an additional 980,839 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Wolverine World Wide during the second quarter worth $13,557,000. Manning & Napier Advisors LLC purchased a new position in shares of Wolverine World Wide in the second quarter valued at $11,571,000. Finally, Hillsdale Investment Management Inc. purchased a new position in shares of Wolverine World Wide in the first quarter valued at $7,275,000. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Wolverine World Wide in a research note on Tuesday, September 8th. Zacks Research raised shares of Wolverine World Wide from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. Robert W. Baird upped their price objective on shares of Wolverine World Wide from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Friday, August 14th. Wall Street Zen upgraded Wolverine World Wide from a “hold” rating to a “buy” rating in a research note on Sunday, October 4th. Finally, UBS Group lifted their target price 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. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.11.

Wolverine World Wide Stock Down 0.2%

WWW stock opened at $20.75 on Monday. The company has a current ratio of 1.55, a quick ratio of 0.98 and a debt-to-equity ratio of 1.17. The firm has a 50 day simple moving average of $19.66 and a 200-day simple moving average of $18.10. The company has a market capitalization of $1.70 billion, a P/E ratio of 16.09, a PEG ratio of 1.41 and a beta of 1.66. Wolverine World Wide, Inc. has a twelve month low of $13.47 and a twelve month high of $23.15.

Wolverine World Wide (NYSE:WWW) last posted its quarterly earnings results on Thursday, August 13th. The textile maker reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.02. The firm had revenue of $506.40 million for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.32 earnings per share. Wolverine World Wide has set its FY 2026 guidance at 1.550-1.650 EPS. On average, equities research analysts predict that Wolverine World Wide, Inc. will post 1.64 earnings per share for the current fiscal year.

Wolverine World Wide Profile

Wolverine World Wide, Inc is a global designer, marketer and licensor of footwear and lifestyle products. The company’s portfolio includes brands such as Merrell, Saucony, Wolverine, Hush Puppies, Keds, Chaco, Bates and Sweaty Betty, serving consumers across outdoor, performance, work, casual and fashion-oriented categories.

Its products include hiking and trail footwear, running and athletic shoes, work boots, casual shoes, sandals, apparel and related accessories. Wolverine World Wide sells through wholesale partners, company-operated and brand-specific retail stores, e-commerce platforms and other direct-to-consumer channels in North America and international markets.

Founded in 1883 and headquartered in Rockford, Michigan, the company has a long history in footwear manufacturing and brand management.