Wolverine World Wide (NYSE:WWW) Shares Gap Down – What’s Next?

Wolverine World Wide, Inc. (NYSE:WWW)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $18.78, but opened at $17.84. Wolverine World Wide shares last traded at $17.0330, with a volume of 399,916 shares traded.

Analyst Ratings Changes

Several research analysts have recently issued reports on WWW shares. Stifel Nicolaus set a $25.00 price objective on shares of Wolverine World Wide in a report on Thursday, November 6th. Wall Street Zen downgraded shares of Wolverine World Wide from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. Piper Sandler downgraded shares of Wolverine World Wide from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $22.00 to $16.00 in a report on Wednesday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Wolverine World Wide in a research note on Monday, December 29th. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $18.00 price target (down previously from $29.00) on shares of Wolverine World Wide in a report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Wolverine World Wide has an average rating of “Moderate Buy” and a consensus price target of $21.71.

Wolverine World Wide Stock Performance

The firm has a 50-day simple moving average of $17.44 and a two-hundred day simple moving average of $22.79. The company has a current ratio of 1.34, a quick ratio of 0.79 and a debt-to-equity ratio of 1.40. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of 17.82 and a beta of 1.92.

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

Wolverine World Wide Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Friday, January 2nd will be issued a $0.10 dividend. The ex-dividend date 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 is currently 38.46%.

Insider Buying and Selling at Wolverine World Wide

In other Wolverine World Wide news, Director Nicholas T. Long bought 2,000 shares of the stock in a transaction on Friday, November 7th. The shares were purchased at an average cost of $15.88 per share, with a total value of $31,760.00. Following the completion of the transaction, the director directly owned 78,268 shares of the company’s stock, valued at $1,242,895.84. This represents a 2.62% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Amy M. Klimek sold 11,528 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $22.32, for a total value of $257,304.96. The SEC filing for this sale provides additional information. Over the last ninety days, insiders bought 33,250 shares of company stock valued at $524,573. Corporate insiders own 2.28% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Oxbow Capital Management HK Ltd bought a new stake in Wolverine World Wide during the 3rd quarter valued at approximately $54,431,000. Hennessy Advisors Inc. bought a new position in Wolverine World Wide in the 3rd quarter worth approximately $36,556,000. Callodine Capital Management LP lifted its holdings in shares of Wolverine World Wide by 41.0% during the second quarter. Callodine Capital Management LP now owns 4,297,586 shares of the textile maker’s stock worth $77,700,000 after buying an additional 1,250,515 shares during the last quarter. Alua Capital Management LP bought a new position in Wolverine World Wide during the third quarter worth $33,231,000. Finally, Portolan Capital Management LLC acquired a new stake in Wolverine World Wide in the 3rd quarter worth $21,859,000. Institutional investors and hedge funds own 90.25% of the company’s stock.

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.