Wolverine World Wide (NYSE:WWW – Get Free Report) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.
WWW has been the topic of several other reports. Weiss Ratings raised Wolverine World Wide from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, June 11th. Robert W. Baird decreased their price objective on shares of Wolverine World Wide from $27.00 to $24.00 and set an “outperform” rating for the company in a report on Friday, May 15th. Wall Street Zen raised shares of Wolverine World Wide from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Needham & Company LLC initiated coverage on shares of Wolverine World Wide in a research report on Thursday, March 26th. They issued a “buy” rating and a $21.00 price target on the stock. Finally, Telsey Advisory Group decreased their price target on shares of Wolverine World Wide from $22.00 to $18.00 and set a “market perform” rating for the company in a report on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $21.75.
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Wolverine World Wide Price Performance
Wolverine World Wide (NYSE:WWW – Get Free Report) last announced its quarterly earnings data on Thursday, May 14th. The textile maker reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.03. Wolverine World Wide had a return on equity of 29.37% and a net margin of 5.41%.The firm had revenue of $457.60 million during the quarter, compared to analyst estimates of $448.44 million. During the same period in the previous year, the company earned $0.18 earnings per share. Wolverine World Wide’s quarterly revenue was up 11.0% on a year-over-year basis. Wolverine World Wide has set its FY 2026 guidance at 1.430-1.580 EPS. As a group, research analysts anticipate that Wolverine World Wide will post 1.56 earnings per share for the current fiscal year.
Insider Activity
In other news, Director Brenda J. Lauderback sold 5,500 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $15.88, for a total transaction of $87,340.00. Following the completion of the transaction, the director owned 54,202 shares of the company’s stock, valued at approximately $860,727.76. The trade was a 9.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.50% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of WWW. Royal Bank of Canada raised its holdings in shares of Wolverine World Wide by 295.7% during the first quarter. Royal Bank of Canada now owns 33,055 shares of the textile maker’s stock valued at $460,000 after buying an additional 24,701 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position 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 acquiring an additional 2,321 shares during the period. Goldman Sachs Group Inc. raised its stake in Wolverine World Wide by 55.6% during 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 acquiring an additional 537,854 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Wolverine World Wide by 13.4% during 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 acquiring an additional 26,870 shares in the last quarter. Finally, Invesco Ltd. boosted its position in Wolverine World Wide by 4.8% during the 2nd quarter. Invesco Ltd. now owns 997,217 shares of the textile maker’s stock worth $18,030,000 after acquiring an additional 45,982 shares during the period. 90.25% of the stock is owned by institutional investors and hedge funds.
About Wolverine World Wide
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.
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