Analysts Set Wolverine World Wide, Inc. (NYSE:WWW) Price Target at $23.29

Shares of Wolverine World Wide, Inc. (NYSE:WWW) have been given an average recommendation of “Moderate Buy” by the ten brokerages that are currently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $23.2857.

A number of brokerages have commented on WWW. KeyCorp dropped 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 report on Thursday, November 6th. UBS Group reissued a “buy” rating and issued a $28.00 target price on shares of Wolverine World Wide in a report on Tuesday, December 9th. Stifel Nicolaus set a $25.00 price target on Wolverine World Wide in a research note on Thursday, November 6th. Wall Street Zen cut Wolverine World Wide from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Wolverine World Wide in a report on Monday.

Insider Activity at Wolverine World Wide

In other news, insider Amy M. Klimek sold 11,528 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $22.32, for a total value of $257,304.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Nicholas T. Long purchased 2,000 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The shares were bought at an average price of $15.88 per share, for a total transaction of $31,760.00. Following the completion of the purchase, the director directly owned 78,268 shares in the company, valued at $1,242,895.84. This represents a 2.62% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 33,250 shares of company stock worth $524,573 over the last 90 days. 2.28% of the stock is owned by corporate insiders.

Institutional Trading of Wolverine World Wide

Large investors have recently made changes to their positions in the company. Cetera Investment Advisers purchased a new stake in Wolverine World Wide in the first quarter valued at approximately $232,000. PNC Financial Services Group Inc. increased its holdings in shares of Wolverine World Wide by 10.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 9,132 shares of the textile maker’s stock valued at $127,000 after acquiring an additional 863 shares during the period. Vanguard Group Inc. raised its position in Wolverine World Wide by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 9,005,788 shares of the textile maker’s stock valued at $125,271,000 after purchasing an additional 45,779 shares during the last quarter. Deutsche Bank AG raised its position in Wolverine World Wide by 5.6% in the 1st quarter. Deutsche Bank AG now owns 76,915 shares of the textile maker’s stock valued at $1,070,000 after purchasing an additional 4,056 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in Wolverine World Wide by 36.1% during the 1st quarter. Invesco Ltd. now owns 951,235 shares of the textile maker’s stock worth $13,232,000 after purchasing an additional 252,331 shares during the period. 90.25% of the stock is owned by institutional investors and hedge funds.

Wolverine World Wide Price Performance

Shares of NYSE WWW opened at $18.28 on Wednesday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.34 and a quick ratio of 0.79. The company has a market cap of $1.50 billion, a price-to-earnings ratio of 17.58 and a beta of 1.94. The stock’s 50-day moving average is $19.59 and its two-hundred day moving average is $22.75. Wolverine World Wide has a 1-year low of $9.58 and a 1-year high of $32.80.

Wolverine World Wide (NYSE:WWW) last announced its quarterly earnings data on Wednesday, November 5th. The textile maker reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03. Wolverine World Wide had a return on equity of 31.43% and a net margin of 4.73%.The business had revenue of $470.30 million during the quarter, compared to the consensus estimate of $461.46 million. During the same period in the previous year, the company posted $0.28 earnings per share. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. Wolverine World Wide has set its FY 2025 guidance at 1.290-1.340 EPS. Analysts forecast that Wolverine World Wide will post 1.23 EPS for the current fiscal year.

Wolverine World Wide Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Friday, January 2nd will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 2.2%. Wolverine World Wide’s dividend payout ratio (DPR) is presently 38.46%.

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.