Wolverine World Wide (NYSE:WWW) Shares Gap Up on Strong Earnings

Shares of Wolverine World Wide, Inc. (NYSE:WWW) gapped up prior to trading on Thursday following a better than expected earnings announcement. The stock had previously closed at $18.06, but opened at $19.62. Wolverine World Wide shares last traded at $20.1350, with a volume of 112,567 shares traded.

The textile maker reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. The business had revenue of $506.40 million during the quarter, compared to analysts’ expectations of $500.74 million. Wolverine World Wide had a return on equity of 29.37% and a net margin of 5.41%.Wolverine World Wide’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.32 EPS. Wolverine World Wide has set its FY 2026 guidance at 1.550-1.650 EPS.

Wolverine World Wide Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Thursday, October 1st will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.0%. The ex-dividend date is Thursday, October 1st. Wolverine World Wide’s dividend payout ratio is currently 32.26%.

Analyst Upgrades and Downgrades

WWW has been the topic of several recent analyst reports. Robert W. Baird reduced their target price on shares of Wolverine World Wide from $27.00 to $24.00 and set an “outperform” rating on the stock in a research note on Friday, May 15th. Wall Street Zen cut shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Weiss Ratings upgraded shares of Wolverine World Wide from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, June 11th. Zacks Research cut shares of Wolverine World Wide from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Finally, Telsey Advisory Group dropped their price objective on shares of Wolverine World Wide from $22.00 to $18.00 and set a “market perform” rating for the company in a report on Friday, May 15th. Five equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Wolverine World Wide currently has a consensus rating of “Hold” and an average price target of $21.75.

Insider Activity

In related news, Director Brenda J. Lauderback sold 5,500 shares of Wolverine World Wide stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $15.88, for a total value of $87,340.00. Following the completion of the sale, the director directly owned 54,202 shares in the company, valued at $860,727.76. This trade represents a 9.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Wolverine World Wide

Large investors have recently modified their holdings of the business. BlackRock Inc. acquired a new stake in shares of Wolverine World Wide in the second quarter valued at about $204,878,000. Vanguard Group Inc. grew its stake in shares of Wolverine World Wide by 4.1% in the fourth quarter. Vanguard Group Inc. now owns 8,988,758 shares of the textile maker’s stock valued at $163,146,000 after buying an additional 353,808 shares in the last quarter. Callodine Capital Management LP increased its holdings in 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 buying an additional 980,839 shares during the last quarter. State Street Corp raised its position in Wolverine World Wide by 2.1% during the fourth quarter. State Street Corp now owns 3,100,339 shares of the textile maker’s stock worth $56,271,000 after acquiring an additional 63,041 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in Wolverine World Wide by 3.0% during the fourth quarter. JPMorgan Chase & Co. now owns 2,006,578 shares of the textile maker’s stock worth $36,419,000 after acquiring an additional 59,304 shares in the last quarter. 90.25% of the stock is currently owned by institutional investors.

Wolverine World Wide Trading Up 11.1%

The business’s 50 day simple moving average is $17.95 and its 200 day simple moving average is $17.37. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of 16.18 and a beta of 1.73. The company has a quick ratio of 0.89, a current ratio of 1.53 and a debt-to-equity ratio of 1.26.

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.