Wolverine World Wide (NYSE:WWW) Shares Gap Down – Here’s Why

Shares of Wolverine World Wide, Inc. (NYSE:WWW) gapped down before the market opened on Friday . The stock had previously closed at $19.28, but opened at $18.56. Wolverine World Wide shares last traded at $18.2610, with a volume of 146,192 shares trading hands.

Analyst Ratings Changes

Several equities analysts recently weighed in on WWW shares. Exane BNP Paribas downgraded Wolverine World Wide from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $38.00 to $19.00 in a research report on Thursday. Piper Sandler downgraded Wolverine World Wide from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $22.00 to $16.00 in a research note on Wednesday, January 7th. Stifel Nicolaus set a $25.00 price objective on Wolverine World Wide in a research report on Thursday, November 6th. Telsey Advisory Group restated 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. Finally, BNP Paribas Exane set a $19.00 price target on shares of Wolverine World Wide and gave the company a “neutral” rating in a report on Thursday. Four analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $21.11.

Wolverine World Wide Price Performance

The company has a quick ratio of 0.79, a current ratio of 1.34 and a debt-to-equity ratio of 1.40. The firm’s fifty day moving average price is $17.66 and its 200 day moving average price is $22.81. The stock has a market cap of $1.49 billion, a PE ratio of 17.49 and a beta of 1.92.

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, beating the consensus estimate of $0.33 by $0.03. The company had revenue of $470.30 million during the quarter, compared to analysts’ expectations of $461.46 million. Wolverine World Wide had a net margin of 4.73% and a return on equity of 31.43%. Wolverine World Wide’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period last year, the company posted $0.28 earnings per share. Wolverine World Wide has set its FY 2025 guidance at 1.290-1.340 EPS. As a group, equities analysts expect that Wolverine World Wide, Inc. will post 1.23 EPS for the current fiscal year.

Wolverine World Wide Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Friday, January 2nd will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Friday, January 2nd. Wolverine World Wide’s payout ratio is 38.46%.

Insider Transactions at Wolverine World Wide

In other Wolverine World Wide news, insider Amy M. Klimek sold 11,528 shares of Wolverine World Wide stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $22.32, for a total value of $257,304.96. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Nicholas T. Long acquired 2,000 shares of the firm’s stock in a transaction dated Friday, November 7th. The shares were purchased at an average cost of $15.88 per share, for a total transaction of $31,760.00. Following the completion of the acquisition, the director directly owned 78,268 shares in the company, valued at approximately $1,242,895.84. This represents a 2.62% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 33,250 shares of company stock valued at $524,573 over the last three months. Corporate insiders own 2.28% of the company’s stock.

Institutional Investors Weigh In On Wolverine World Wide

Several large investors have recently bought and sold shares of WWW. Massachusetts Financial Services Co. MA bought a new position in Wolverine World Wide during the fourth quarter valued at $21,687,000. CIBC Bancorp USA Inc. purchased a new stake in shares of Wolverine World Wide during the 3rd quarter valued at about $236,000. Integrated Investment Consultants LLC bought a new position in shares of Wolverine World Wide in the 3rd quarter valued at about $261,000. Hancock Whitney Corp purchased a new position in Wolverine World Wide in the third quarter worth about $267,000. Finally, Harvest Investment Services LLC purchased a new position in Wolverine World Wide in the third quarter worth about $442,000. 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.