Wolverine World Wide (NYSE:WWW) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of Wolverine World Wide (NYSE:WWW) from a buy rating to a hold rating in a research note released on Saturday morning,Wall Street Zen reports.

Several other analysts have also commented on WWW. Williams Trading set a $20.00 price target on shares of Wolverine World Wide in a research report on Wednesday, August 19th. UBS Group increased their price objective 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. Needham & Company LLC raised their target price 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. Zacks Research downgraded Wolverine World Wide from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Finally, Robert W. Baird upped their price target 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. Five investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $23.11.

Wolverine World Wide Price Performance

Wolverine World Wide stock opened at $19.15 on Friday. Wolverine World Wide has a 12-month low of $13.47 and a 12-month high of $28.68. The stock has a market cap of $1.57 billion, a P/E ratio of 14.85, a PEG ratio of 1.29 and a beta of 1.72. The company has a 50-day moving average price of $19.64 and a 200 day moving average price of $17.86. The company has a current ratio of 1.55, a quick ratio of 0.98 and a debt-to-equity ratio of 1.17.

Wolverine World Wide (NYSE:WWW) last issued its earnings results on Thursday, August 13th. The textile maker reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. The company had revenue of $506.40 million for the quarter, compared to the consensus estimate of $500.74 million. Wolverine World Wide had a net margin of 5.55% and a return on equity of 28.50%. Wolverine World Wide’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.32 earnings per share. Wolverine World Wide has set its FY 2026 guidance at 1.550-1.650 EPS. Sell-side analysts anticipate that Wolverine World Wide will post 1.64 earnings per share for the current year.

Wolverine World Wide Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Thursday, October 1st will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Thursday, October 1st. Wolverine World Wide’s dividend payout ratio (DPR) is currently 31.01%.

Hedge Funds Weigh In On Wolverine World Wide

Institutional investors have recently bought and sold shares of the company. BlackRock Inc. purchased a new position in Wolverine World Wide in the 2nd quarter valued at approximately $204,878,000. Callodine Capital Management LP lifted its stake in Wolverine World Wide by 27.8% in the first quarter. Callodine Capital Management LP now owns 4,505,165 shares of the textile maker’s stock worth $73,524,000 after acquiring an additional 980,839 shares during 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 acquired a new stake in Wolverine World Wide in the second quarter valued at $11,571,000. Finally, Jupiter Asset Management Ltd. raised its stake in Wolverine World Wide by 106.7% in the fourth quarter. Jupiter Asset Management Ltd. now owns 1,164,314 shares of the textile maker’s stock valued at $21,132,000 after buying an additional 601,059 shares in the last quarter. 90.25% of the stock is owned by institutional investors and hedge funds.

About Wolverine World Wide

Wolverine World Wide, Inc is a global designer, manufacturer, marketer and licensor of branded footwear, apparel and accessories. The company serves consumers through a portfolio of outdoor, athletic, lifestyle and work-oriented brands, with products sold through wholesale accounts, company-owned and third-party retail locations, and e-commerce channels.

Its principal brands include Merrell, which focuses on outdoor and trail footwear and apparel; Saucony, an athletic running and performance brand; Wolverine, known for work and lifestyle footwear; Chaco, which offers outdoor sandals and footwear; Sweaty Betty, a women’s activewear brand; and Bates, a provider of uniform and duty footwear.