Wolverine World Wide (NYSE:WWW) Stock Rating Lowered by Wall Street Zen

Wolverine World Wide (NYSE:WWW) was downgraded by equities research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Saturday.

Other equities research analysts have also recently issued research reports about the stock. Telsey Advisory Group reaffirmed a “market perform” rating and set a $18.00 target price (down previously from $29.00) on shares of Wolverine World Wide in a research note on Wednesday, November 5th. UBS Group lowered their price target on shares of Wolverine World Wide from $39.00 to $28.00 and set a “buy” rating on the stock in a research report on Thursday. Piper Sandler reaffirmed an “overweight” rating and set a $25.00 price objective (up previously from $20.00) on shares of Wolverine World Wide in a research note on Tuesday, August 5th. Robert W. Baird cut their price objective on shares of Wolverine World Wide from $35.00 to $23.00 and set an “outperform” rating for the company in a report on Thursday. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Wolverine World Wide in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $23.29.

Wolverine World Wide Trading Up 2.0%

Shares of Wolverine World Wide stock opened at $15.93 on Friday. 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 has a twelve month low of $9.58 and a twelve month high of $32.80. The firm has a market capitalization of $1.29 billion, a PE ratio of 15.61 and a beta of 1.83. The firm’s 50-day moving average price is $26.87 and its 200 day moving average price is $22.60.

Wolverine World Wide (NYSE:WWW) last announced its earnings results on Wednesday, November 5th. The textile maker reported $0.36 EPS for the quarter, beating analysts’ consensus estimates 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 31.99% and a net margin of 4.73%.The business’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.28 earnings per share. Wolverine World Wide has set its FY 2025 guidance at 1.290-1.340 EPS. On average, sell-side analysts predict that Wolverine World Wide will post 1.23 EPS for the current fiscal year.

Insider Buying and Selling

In other Wolverine World Wide news, Director Nicholas T. Long sold 12,854 shares of Wolverine World Wide stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $31.84, for a total transaction of $409,271.36. Following the completion of the sale, the director directly owned 76,268 shares in the company, valued at $2,428,373.12. This trade represents a 14.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brenda J. Lauderback sold 12,854 shares of the business’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $32.14, for a total transaction of $413,127.56. Following the completion of the sale, 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 SEC filing for this sale provides additional information. In the last ninety days, insiders sold 37,236 shares of company stock valued at $1,079,704. 2.28% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Wolverine World Wide

Institutional investors have recently modified their holdings of the company. Jupiter Asset Management Ltd. purchased a new position in Wolverine World Wide in the first quarter valued at $3,440,000. Intech Investment Management LLC raised its position in Wolverine World Wide by 234.3% in the 1st quarter. Intech Investment Management LLC now owns 237,841 shares of the textile maker’s stock valued at $3,308,000 after purchasing an additional 166,692 shares in the last quarter. Jump Financial LLC purchased a new position in shares of Wolverine World Wide in the 1st quarter valued at about $1,367,000. Northern Trust Corp grew its position in shares of Wolverine World Wide by 1.1% during the first quarter. Northern Trust Corp now owns 1,017,233 shares of the textile maker’s stock worth $14,150,000 after buying an additional 11,398 shares in the last quarter. Finally, Callodine Capital Management LP increased its stake in shares of Wolverine World Wide by 60.2% during the first quarter. Callodine Capital Management LP now owns 3,047,071 shares of the textile maker’s stock worth $42,385,000 after buying an additional 1,145,455 shares during the period. 90.25% of the stock is owned by institutional investors and hedge funds.

About Wolverine World Wide

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.