Wolverine World Wide (NYSE:WWW) Trading Up 4.8% – What’s Next?

Wolverine World Wide, Inc. (NYSE:WWW) shares shot up 4.8% during mid-day trading on Monday . The stock traded as high as $16.79 and last traded at $16.9950. 223,103 shares traded hands during trading, a decline of 87% from the average session volume of 1,662,048 shares. The stock had previously closed at $16.21.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on WWW. Robert W. Baird lowered their price objective on Wolverine World Wide from $35.00 to $23.00 and set an “outperform” rating on the stock in a report on Thursday, November 6th. KeyCorp dropped their price target 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. 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. UBS Group lowered their target price on shares of Wolverine World Wide from $39.00 to $28.00 and set a “buy” rating on the stock in a research note on Thursday, November 6th. Finally, Zacks Research lowered shares of Wolverine World Wide from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 27th. One equities research 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $23.29.

Wolverine World Wide Stock Performance

The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.75 and a current ratio of 1.24. The firm has a 50 day moving average price of $22.25 and a two-hundred day moving average price of $22.72. The company has a market capitalization of $1.41 billion, a P/E ratio of 16.92 and a beta of 1.83.

Wolverine World Wide (NYSE:WWW) last issued its 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. Wolverine World Wide had a net margin of 4.73% and a return on equity of 31.99%. 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 previous year, the company earned $0.28 EPS. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. Wolverine World Wide has set its FY 2025 guidance at 1.290-1.340 EPS. On average, research analysts expect 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 declared 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. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, January 2nd. Wolverine World Wide’s payout ratio is currently 38.46%.

Insider Activity at Wolverine World Wide

In related news, Director Demonty Price purchased 25,000 shares of the stock in a transaction that occurred on Friday, November 7th. The stock was acquired at an average price of $15.77 per share, with a total value of $394,250.00. Following the completion of the acquisition, the director directly owned 75,000 shares in the company, valued at approximately $1,182,750. This trade represents a 50.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jack Boyle acquired 6,250 shares of the firm’s stock in a transaction on Friday, November 7th. The stock was purchased at an average price of $15.77 per share, for a total transaction of $98,562.50. Following the completion of the transaction, the director directly owned 6,250 shares in the company, valued at approximately $98,562.50. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 33,250 shares of company stock valued at $524,573 over the last ninety days. Company insiders own 2.28% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in WWW. Maryland State Retirement & Pension System grew its holdings in shares of Wolverine World Wide by 1.9% during the 2nd quarter. Maryland State Retirement & Pension System now owns 23,818 shares of the textile maker’s stock valued at $431,000 after purchasing an additional 453 shares during the last quarter. Teacher Retirement System of Texas lifted its stake in Wolverine World Wide by 5.1% in the 2nd quarter. Teacher Retirement System of Texas now owns 12,300 shares of the textile maker’s stock valued at $222,000 after purchasing an additional 595 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in Wolverine World Wide by 1.0% in the second quarter. Nisa Investment Advisors LLC now owns 58,586 shares of the textile maker’s stock valued at $1,059,000 after buying an additional 599 shares in the last quarter. Sheets Smith Wealth Management grew its stake in shares of Wolverine World Wide by 5.1% during the second quarter. Sheets Smith Wealth Management now owns 13,032 shares of the textile maker’s stock worth $236,000 after buying an additional 628 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its holdings in shares of Wolverine World Wide by 1.3% during the second quarter. Thrivent Financial for Lutherans now owns 59,742 shares of the textile maker’s stock worth $1,074,000 after buying an additional 782 shares in the last quarter. Institutional investors and hedge funds own 90.25% of the company’s stock.

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.