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

Shares of Wolverine World Wide, Inc. (NYSE:WWW) 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.

Analyst Ratings Changes

WWW has been the topic of several recent research reports. Wall Street Zen upgraded Wolverine World Wide from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 3rd. Robert W. Baird decreased their price target on shares of Wolverine World Wide from $35.00 to $23.00 and set an “outperform” rating on the stock in a research note on Thursday. Weiss Ratings reissued a “hold (c)” rating on shares of Wolverine World Wide in a research note on Wednesday, October 8th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $18.00 price objective (down from $29.00) on shares of Wolverine World Wide in a research note on Wednesday. Finally, Zacks Research downgraded Wolverine World Wide from a “strong-buy” rating to a “hold” rating in a report on Monday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Wolverine World Wide presently has an average rating of “Moderate Buy” and a consensus price target of $23.29.

Wolverine World Wide Trading Up 2.0%

The company has a debt-to-equity ratio of 1.58, a current ratio of 1.24 and a quick ratio of 0.75. The stock’s 50 day moving average is $26.87 and its 200-day moving average is $22.46. The company has a market capitalization of $1.29 billion, a P/E ratio of 15.61 and a beta of 1.83.

Wolverine World Wide (NYSE:WWW) last posted its earnings results on Wednesday, November 5th. The textile maker reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03. The firm had revenue of $470.30 million for the quarter, compared to the consensus estimate 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 for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.28 EPS. Wolverine World Wide has set its FY 2025 guidance at 1.290-1.340 EPS. As a group, equities research analysts anticipate that Wolverine World Wide, Inc. will post 1.23 earnings per share for the current year.

Wolverine World Wide Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Friday, January 2nd will be given a $0.10 dividend. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.5%. Wolverine World Wide’s dividend payout ratio is currently 39.22%.

Insider Buying and Selling

In other Wolverine World Wide news, insider Amy M. Klimek sold 11,528 shares of Wolverine World Wide stock in a transaction dated 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 can be accessed through the SEC website. Also, Director Nicholas T. Long sold 12,854 shares of Wolverine World Wide 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 sale, the director owned 76,268 shares of the company’s stock, valued at $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 in the last three months. 2.28% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

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

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.