Wolverine World Wide (NYSE:WWW) Trading 7.9% Higher – Here’s What Happened

Wolverine World Wide, Inc. (NYSE:WWW)’s stock price shot up 7.9% during mid-day trading on Tuesday . The stock traded as high as $20.58 and last traded at $20.5850. Approximately 546,941 shares traded hands during mid-day trading, a decline of 54% from the average daily volume of 1,196,739 shares. The stock had previously closed at $19.07.

Wall Street Analyst Weigh In

A number of research firms recently commented on WWW. Zacks Research upgraded Wolverine World Wide from a “hold” rating to a “strong-buy” rating in a report on Monday, July 6th. Telsey Advisory Group cut their price objective on Wolverine World Wide from $22.00 to $18.00 and set a “market perform” rating for the company in a research report on Friday, May 15th. Robert W. Baird reduced their target price on Wolverine World Wide from $27.00 to $24.00 and set an “outperform” rating for the company in a research note on Friday, May 15th. Wall Street Zen raised Wolverine World Wide from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Finally, Weiss Ratings upgraded Wolverine World Wide from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $21.75.

Wolverine World Wide Stock Performance

The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of 16.19 and a beta of 1.75. The company has a fifty day moving average of $17.52 and a two-hundred day moving average of $17.36. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.89 and a current ratio of 1.53.

Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings data on Thursday, May 14th. The textile maker reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.03. Wolverine World Wide had a return on equity of 29.37% and a net margin of 5.41%.The firm had revenue of $457.60 million for the quarter, compared to analyst estimates of $448.44 million. During the same period in the prior year, the firm posted $0.18 EPS. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. Wolverine World Wide has set its FY 2026 guidance at 1.430-1.580 EPS. As a group, equities research analysts predict that Wolverine World Wide, Inc. will post 1.56 earnings per share for the current fiscal year.

Wolverine World Wide Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Wednesday, July 1st will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Wednesday, July 1st. Wolverine World Wide’s dividend payout ratio (DPR) is currently 32.26%.

Insiders Place Their Bets

In other Wolverine World Wide news, Director Brenda J. Lauderback sold 5,500 shares of the business’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $15.88, for a total value of $87,340.00. Following the completion of the sale, the director owned 54,202 shares of the company’s stock, valued at $860,727.76. The trade was a 9.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Wolverine World Wide

Hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC grew its position in Wolverine World Wide by 16.3% during the second quarter. GAMMA Investing LLC now owns 9,505 shares of the textile maker’s stock worth $157,000 after buying an additional 1,333 shares in the last quarter. Integrated Investment Consultants LLC acquired a new position in Wolverine World Wide in the 1st quarter valued at $182,000. Edgestream Partners L.P. bought a new stake in shares of Wolverine World Wide during the 1st quarter valued at $935,000. Janus Henderson Group PLC grew its holdings in shares of Wolverine World Wide by 197.9% during the 1st quarter. Janus Henderson Group PLC now owns 103,781 shares of the textile maker’s stock worth $1,694,000 after purchasing an additional 68,944 shares in the last quarter. Finally, California State Teachers Retirement System grew its holdings in shares of Wolverine World Wide by 34.7% during the 1st quarter. California State Teachers Retirement System now owns 104,730 shares of the textile maker’s stock worth $1,709,000 after purchasing an additional 26,993 shares in the last quarter. 90.25% of the stock is currently owned by institutional investors and hedge funds.

About Wolverine World Wide

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.