Wolverine World Wide (NYSE:WWW) Upgraded at Wall Street Zen

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

A number of other research firms also recently commented on WWW. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Wolverine World Wide in a report on Tuesday, September 8th. Stifel Nicolaus increased their price target on shares of Wolverine World Wide from $25.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, August 14th. Telsey Advisory Group reissued a “market perform” rating and set a $21.00 price target on shares of Wolverine World Wide in a research report on Friday, August 14th. Williams Trading set a $20.00 price objective on shares of Wolverine World Wide in a research note on Wednesday, August 19th. Finally, Needham & Company LLC upped their price objective on shares of Wolverine World Wide from $21.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, August 13th. Five equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $23.11.

Wolverine World Wide Price Performance

Shares of WWW opened at $19.27 on Friday. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.55 and a quick ratio of 0.98. The company’s fifty day moving average price is $19.63 and its 200-day moving average price is $17.98. Wolverine World Wide has a 1-year low of $13.47 and a 1-year high of $27.73. The firm has a market capitalization of $1.58 billion, a PE ratio of 14.93, a price-to-earnings-growth ratio of 1.29 and a beta of 1.69.

Wolverine World Wide (NYSE:WWW) last issued its earnings results on Thursday, August 13th. The textile maker reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. Wolverine World Wide had a return on equity of 28.50% and a net margin of 5.55%.The company had revenue of $506.40 million during the quarter, compared to analyst estimates of $500.74 million. During the same quarter last year, the business posted $0.32 EPS. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. 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 will post 1.64 EPS for the current year.

Wolverine World Wide Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Thursday, October 1st will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Thursday, October 1st. Wolverine World Wide’s payout ratio is presently 31.01%.

Hedge Funds Weigh In On Wolverine World Wide

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC boosted its holdings in Wolverine World Wide by 1,959.4% in the 2nd quarter. NewEdge Advisors LLC now owns 20,594 shares of the textile maker’s stock worth $340,000 after buying an additional 19,594 shares during the last quarter. Corient Private Wealth LP lifted its position in shares of Wolverine World Wide by 333.9% in the second quarter. Corient Private Wealth LP now owns 47,399 shares of the textile maker’s stock valued at $784,000 after acquiring an additional 36,476 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Wolverine World Wide in the second quarter valued at approximately $422,000. Wellington Management Group LLP boosted its stake in shares of Wolverine World Wide by 3.4% in the second quarter. Wellington Management Group LLP now owns 4,528,278 shares of the textile maker’s stock worth $74,852,000 after acquiring an additional 146,791 shares during the last quarter. Finally, Caitlin John LLC acquired a new stake in shares of Wolverine World Wide in the second quarter worth approximately $56,000. 90.25% of the stock is owned by hedge funds and other institutional investors.

About Wolverine World Wide

Wolverine World Wide, Inc is a global footwear and apparel company headquartered in Rockford, Michigan. Founded in 1883, the company designs, manufactures, sources, markets and licenses footwear, clothing and accessories for consumers and workers around the world.

Its brand portfolio includes Merrell, known for outdoor and hiking footwear; Saucony, which focuses on running and athletic shoes; Wolverine, a work and lifestyle brand; Hush Puppies; Chaco; Bates; and other licensed or owned footwear brands.