Wolverine World Wide (NYSE:WWW) Given New $23.00 Price Target at Robert W. Baird

Wolverine World Wide (NYSE:WWW) had its price target reduced by Robert W. Baird from $35.00 to $23.00 in a report issued on Thursday morning,Benzinga reports. Robert W. Baird currently has an outperform rating on the textile maker’s stock.

Other equities analysts have also issued reports about the company. Telsey Advisory Group reissued a “market perform” rating and set a $18.00 price objective (down previously from $29.00) on shares of Wolverine World Wide in a research report on Wednesday. Wall Street Zen raised Wolverine World Wide from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 3rd. Stifel Nicolaus upped their price target on Wolverine World Wide from $30.00 to $36.00 and gave the stock a “buy” rating in a report on Wednesday, August 27th. KeyCorp lowered their price objective on shares of Wolverine World Wide from $32.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $25.00 target price (up previously from $20.00) on shares of Wolverine World Wide in a research report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Wolverine World Wide has an average rating of “Moderate Buy” and an average target price of $23.29.

Wolverine World Wide Price Performance

NYSE WWW opened at $15.71 on Thursday. Wolverine World Wide has a 1 year low of $9.58 and a 1 year high of $32.80. The company has a fifty day simple moving average of $27.19 and a 200 day simple moving average of $22.42. The company has a current ratio of 1.24, a quick ratio of 0.75 and a debt-to-equity ratio of 1.58. The company has a market cap of $1.28 billion, a P/E ratio of 15.40 and a beta of 1.83.

Wolverine World Wide (NYSE:WWW) last announced its earnings results 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 firm had revenue of $470.30 million for the quarter, compared to the consensus estimate of $461.46 million. Wolverine World Wide had a net margin of 4.73% and a return on equity of 31.99%. The business’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.28 EPS. Wolverine World Wide has set its FY 2025 guidance at 1.290-1.340 EPS. On average, 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 announced a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Friday, January 2nd will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Friday, January 2nd. Wolverine World Wide’s dividend payout ratio is presently 39.22%.

Insiders Place Their Bets

In other news, Director Nicholas T. Long sold 12,854 shares of the firm’s stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $31.84, for a total transaction of $409,271.36. Following the completion of the transaction, the director directly owned 76,268 shares of the company’s stock, valued at approximately $2,428,373.12. This trade represents a 14.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Amy M. Klimek sold 11,528 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $22.32, for a total transaction of $257,304.96. The SEC filing for this sale provides additional information. Insiders have sold 37,236 shares of company stock worth $1,079,704 over the last 90 days. Corporate insiders own 2.28% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Teacher Retirement System of Texas bought a new stake in shares of Wolverine World Wide in the 1st quarter valued at approximately $163,000. Principal Financial Group Inc. boosted its stake in Wolverine World Wide by 2.3% in the 1st quarter. Principal Financial Group Inc. now owns 399,738 shares of the textile maker’s stock valued at $5,560,000 after buying an additional 9,029 shares in the last quarter. Nisa Investment Advisors LLC grew its position in Wolverine World Wide by 60.2% in the first quarter. Nisa Investment Advisors LLC now owns 57,987 shares of the textile maker’s stock valued at $807,000 after acquiring an additional 21,795 shares during the period. Cerity Partners LLC raised its stake in Wolverine World Wide by 25.0% during the first quarter. Cerity Partners LLC now owns 16,728 shares of the textile maker’s stock worth $233,000 after acquiring an additional 3,346 shares in the last quarter. Finally, Jennison Associates LLC raised its stake in Wolverine World Wide by 24.9% during the first quarter. Jennison Associates LLC now owns 739,359 shares of the textile maker’s stock worth $10,284,000 after acquiring an additional 147,215 shares in the last quarter. Institutional investors own 90.25% of the company’s stock.

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.