Wolverine World Wide (NYSE:WWW) Trading Down 6.6% – Here’s What Happened

Wolverine World Wide, Inc. (NYSE:WWW) shares fell 6.6% during trading on Monday . The company traded as low as $19.62 and last traded at $19.6350. 117,284 shares were traded during mid-day trading, a decline of 90% from the average session volume of 1,169,691 shares. The stock had previously closed at $21.03.

Analysts Set New Price Targets

WWW has been the topic of several recent analyst reports. Zacks Research downgraded shares of Wolverine World Wide from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Robert W. Baird lifted their target price on Wolverine World Wide from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Friday. Weiss Ratings upgraded Wolverine World Wide from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, June 11th. Stifel Nicolaus upped their price objective on shares of Wolverine World Wide from $25.00 to $26.00 and gave the company a “buy” rating in a report on Friday. Finally, KeyCorp reiterated an “overweight” rating and issued a $25.00 price target on shares of Wolverine World Wide in a research note on Thursday. Five equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $23.50.

Wolverine World Wide Trading Down 6.4%

The stock has a market cap of $1.61 billion, a price-to-earnings ratio of 15.26 and a beta of 1.73. The company’s 50 day simple moving average is $18.13 and its two-hundred day simple moving average is $17.41. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.98 and a current ratio of 1.55.

Wolverine World Wide (NYSE:WWW) last released its quarterly earnings results on Thursday, August 13th. The textile maker reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. The firm had revenue of $506.40 million for the quarter, compared to analyst estimates of $500.74 million. Wolverine World Wide had a net margin of 5.55% and a return on equity of 28.50%. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.32 earnings per share. Wolverine World Wide has set its FY 2026 guidance at 1.550-1.650 EPS. Research analysts expect that Wolverine World Wide, Inc. will post 1.64 EPS for the current fiscal year.

Wolverine World Wide Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Thursday, October 1st will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Thursday, October 1st. Wolverine World Wide’s payout ratio is currently 31.01%.

Insider Transactions at Wolverine World Wide

In other news, Director Brenda J. Lauderback sold 5,500 shares of Wolverine World Wide stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $15.88, for a total transaction of $87,340.00. Following the sale, the director directly owned 54,202 shares in the company, valued at $860,727.76. The trade was a 9.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Wolverine World Wide

Hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada raised its stake in shares of Wolverine World Wide by 295.7% in the first quarter. Royal Bank of Canada now owns 33,055 shares of the textile maker’s stock valued at $460,000 after acquiring an additional 24,701 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Wolverine World Wide by 5.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,480 shares of the textile maker’s stock valued at $660,000 after purchasing an additional 2,321 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Wolverine World Wide by 55.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,504,571 shares of the textile maker’s stock valued at $20,929,000 after purchasing an additional 537,854 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Wolverine World Wide by 13.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 227,688 shares of the textile maker’s stock valued at $3,167,000 after buying an additional 26,870 shares during the period. Finally, Invesco Ltd. raised its stake in shares of Wolverine World Wide by 4.8% in the second quarter. Invesco Ltd. now owns 997,217 shares of the textile maker’s stock valued at $18,030,000 after acquiring an additional 45,982 shares in the last quarter. Hedge funds and other institutional investors 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.