Wolverine World Wide (NYSE:WWW) Price Target Cut to $28.00 by Analysts at UBS Group

Wolverine World Wide (NYSE:WWW) had its target price decreased by UBS Group from $39.00 to $28.00 in a research note published on Thursday morning,Benzinga reports. UBS Group currently has a buy rating on the textile maker’s stock.

Other equities research analysts also recently issued research reports about the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Wolverine World Wide in a research note on Wednesday, October 8th. Stifel Nicolaus boosted their target price on shares of Wolverine World Wide from $30.00 to $36.00 and gave the stock a “buy” rating in a report on Wednesday, August 27th. KeyCorp decreased their target price 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. Piper Sandler reiterated an “overweight” rating and issued a $25.00 price target (up previously from $20.00) on shares of Wolverine World Wide in a research report on Tuesday, August 5th. Finally, Wall Street Zen raised Wolverine World Wide from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Wolverine World Wide presently has a consensus rating of “Moderate Buy” and an average price target of $23.29.

Wolverine World Wide Price Performance

NYSE:WWW opened at $15.71 on Thursday. The business’s 50-day moving average is $27.19 and its 200 day moving average is $22.42. Wolverine World Wide has a 12 month low of $9.58 and a 12 month high of $32.80. The company has a market capitalization of $1.28 billion, a P/E ratio of 15.40 and a beta of 1.83. The company has a current ratio of 1.24, a quick ratio of 0.75 and a debt-to-equity ratio of 1.58.

Wolverine World Wide (NYSE:WWW) last released its quarterly earnings data on Wednesday, November 5th. The textile maker reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03. The business 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 company’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.28 EPS. Wolverine World Wide has set its FY 2025 guidance at 1.290-1.340 EPS. On average, equities research analysts forecast that Wolverine World Wide will post 1.23 earnings per share 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. Shareholders 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 2.5%. The ex-dividend date is Friday, January 2nd. Wolverine World Wide’s dividend payout ratio is currently 39.22%.

Insider Transactions at Wolverine World Wide

In other news, Director Brenda J. Lauderback sold 12,854 shares of the firm’s stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $32.14, for a total transaction of $413,127.56. Following the transaction, the director owned 48,675 shares in the company, valued at approximately $1,564,414.50. This trade represents a 20.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Nicholas T. Long sold 12,854 shares of the company’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $31.84, for a total transaction of $409,271.36. Following the completion of the sale, the director directly owned 76,268 shares of the company’s stock, valued at approximately $2,428,373.12. This trade represents a 14.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 37,236 shares of company stock valued at $1,079,704. 2.28% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Wolverine World Wide

A number of hedge funds and other institutional investors have recently modified their holdings of WWW. Jupiter Asset Management Ltd. bought a new position in Wolverine World Wide in the first quarter worth about $3,440,000. Intech Investment Management LLC grew its position in shares of Wolverine World Wide by 234.3% in the 1st quarter. Intech Investment Management LLC now owns 237,841 shares of the textile maker’s stock worth $3,308,000 after buying an additional 166,692 shares during the last quarter. Jump Financial LLC bought a new position in shares of Wolverine World Wide during the 1st quarter worth approximately $1,367,000. Northern Trust Corp raised its stake in shares of Wolverine World Wide by 1.1% during the 1st 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 in the last quarter. Finally, Callodine Capital Management LP lifted its position in Wolverine World Wide by 60.2% during the first 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 last quarter. 90.25% of the stock is currently owned by 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.