Wolverine World Wide (NYSE:WWW – Get Free Report) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Monday, Zacks reports.
Several other equities analysts have also commented on WWW. UBS Group increased their target price on Wolverine World Wide from $29.00 to $31.00 and gave the company a “buy” rating in a report on Friday, August 14th. Telsey Advisory Group reiterated a “market perform” rating and issued a $21.00 price objective on shares of Wolverine World Wide in a research report on Friday, August 14th. Williams Trading set a $20.00 price target on shares of Wolverine World Wide in a report on Wednesday, August 19th. KeyCorp reaffirmed an “overweight” rating and issued a $25.00 target price on shares of Wolverine World Wide in a report on Thursday, August 13th. Finally, Stifel Nicolaus lifted their price target on shares of Wolverine World Wide from $25.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.11.
Wolverine World Wide Stock Performance
Wolverine World Wide (NYSE:WWW – Get Free Report) last released its quarterly earnings results on Thursday, August 13th. The textile maker reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. The company had revenue of $506.40 million for the quarter, compared to analysts’ expectations of $500.74 million. Wolverine World Wide had a return on equity of 28.50% and a net margin of 5.55%.The firm’s revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.32 earnings per share. Wolverine World Wide has set its FY 2026 guidance at 1.550-1.650 EPS. On average, analysts expect that Wolverine World Wide will post 1.64 EPS for the current year.
Hedge Funds Weigh In On Wolverine World Wide
A number of institutional investors have recently modified their holdings of the company. BlackRock Inc. acquired a new position in Wolverine World Wide in the 2nd quarter valued at $204,878,000. Wellington Management Group LLP raised its stake in Wolverine World Wide by 3.4% during the second quarter. Wellington Management Group LLP now owns 4,528,278 shares of the textile maker’s stock worth $74,852,000 after purchasing an additional 146,791 shares during the period. Callodine Capital Management LP raised its stake in Wolverine World Wide by 27.8% during the first quarter. Callodine Capital Management LP now owns 4,505,165 shares of the textile maker’s stock worth $73,524,000 after purchasing an additional 980,839 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Wolverine World Wide by 21.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,797,577 shares of the textile maker’s stock valued at $29,333,000 after purchasing an additional 313,883 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in shares of Wolverine World Wide in the 2nd quarter valued at $13,557,000. Institutional investors and hedge funds own 90.25% of the company’s stock.
Wolverine World Wide Company Profile
Wolverine World Wide, Inc is a global footwear and apparel company headquartered in Rockford, Michigan. Founded in 1883, the company designs, manufactures, sources, markets and licenses footwear, clothing and accessories for consumers and workers around the world.
Its brand portfolio includes Merrell, known for outdoor and hiking footwear; Saucony, which focuses on running and athletic shoes; Wolverine, a work and lifestyle brand; Hush Puppies; Chaco; Bates; and other licensed or owned footwear brands.
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