Wolverine World Wide (NYSE:WWW) Shares Gap Down – Should You Sell?

Wolverine World Wide, Inc. (NYSE:WWW)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $22.08, but opened at $17.10. Wolverine World Wide shares last traded at $16.0990, with a volume of 1,760,851 shares changing hands.

Analyst Ratings Changes

Several research firms have recently issued reports on WWW. Wall Street Zen raised Wolverine World Wide from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 3rd. Stifel Nicolaus boosted their target price on Wolverine World Wide from $30.00 to $36.00 and gave the stock a “buy” rating in a research report on Wednesday, August 27th. UBS Group boosted their price target on Wolverine World Wide from $36.00 to $39.00 and gave the company a “buy” rating in a research note on Monday, October 27th. Telsey Advisory Group reiterated a “market perform” rating and set a $29.00 price objective on shares of Wolverine World Wide in a research note on Wednesday. Finally, Piper Sandler reissued an “overweight” rating and issued a $25.00 price target (up from $20.00) on shares of Wolverine World Wide in a report on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $28.71.

Wolverine World Wide Stock Down 27.1%

The company has a 50-day simple moving average of $27.82 and a 200 day simple moving average of $22.51. The company has a market cap of $1.31 billion, a P/E ratio of 15.77 and a beta of 1.83. The company has a current ratio of 1.24, a quick ratio of 0.75 and a debt-to-equity ratio of 1.58.

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, beating the consensus estimate of $0.33 by $0.03. Wolverine World Wide had a return on equity of 31.99% and a net margin of 4.73%.The company had revenue of $470.30 million for the quarter, compared to the consensus estimate of $461.46 million. During the same quarter in the prior year, the company posted $0.28 EPS. Wolverine World Wide’s quarterly revenue 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. On average, equities analysts anticipate that Wolverine World Wide, Inc. will post 1.23 EPS for the current year.

Wolverine World Wide Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Friday, January 2nd will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Friday, January 2nd. Wolverine World Wide’s dividend payout ratio (DPR) is presently 39.22%.

Insider Transactions at Wolverine World Wide

In other news, Director Brenda J. Lauderback sold 12,854 shares of the firm’s stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $32.14, for a total value of $413,127.56. Following the completion of the transaction, the director directly owned 48,675 shares in the company, valued at $1,564,414.50. This trade represents a 20.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Nicholas T. Long sold 12,854 shares of the firm’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $31.84, for a total value of $409,271.36. Following the completion of the transaction, the director owned 76,268 shares of the company’s stock, valued at approximately $2,428,373.12. The trade was a 14.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 37,236 shares of company stock worth $1,079,704 over the last three months. 2.28% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Hara Capital LLC purchased a new position in shares of Wolverine World Wide in the second quarter worth about $30,000. Canada Pension Plan Investment Board purchased a new position in Wolverine World Wide during the second quarter valued at approximately $34,000. Covestor Ltd raised its position in Wolverine World Wide by 16,025.0% during the third quarter. Covestor Ltd now owns 1,290 shares of the textile maker’s stock valued at $35,000 after acquiring an additional 1,282 shares in the last quarter. Hilltop National Bank purchased a new position in Wolverine World Wide during the second quarter valued at approximately $85,000. Finally, AlphaQuest LLC boosted its stake in shares of Wolverine World Wide by 370.0% in the third quarter. AlphaQuest LLC now owns 3,257 shares of the textile maker’s stock worth $89,000 after acquiring an additional 2,564 shares during the last quarter. 90.25% of the stock is currently owned by hedge funds and other institutional investors.

Wolverine World Wide Company Profile

Wolverine World Wide, Inc designs, manufactures, sources, markets, licenses, and distributes footwear, apparel, and accessories in the United States, Europe, the Middle East, Africa, the Asia Pacific, Canada and Latin America. It operates through Active Group and Work Group segments. The company offers casual footwear and apparel; performance outdoor and athletic footwear and apparel; kids' footwear; industrial work boots and apparel; and uniform shoes and boots.