Wolverine World Wide (NYSE:WWW) Stock Rating Raised to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of Wolverine World Wide (NYSE:WWW) from a hold rating to a strong-buy rating in a report issued on Monday,Zacks reports.

WWW has been the subject of a number of other reports. Needham & Company LLC lifted their price target on shares of Wolverine World Wide from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. Stifel Nicolaus raised their price objective on shares of Wolverine World Wide from $25.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, August 14th. Telsey Advisory Group restated a “market perform” rating and set a $21.00 target price on shares of Wolverine World Wide in a research report on Friday, August 14th. KeyCorp reissued an “overweight” rating and set a $25.00 price target on shares of Wolverine World Wide in a research note on Thursday, August 13th. Finally, Robert W. Baird increased their target price on Wolverine World Wide from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.11.

Wolverine World Wide Trading Up 1.7%

Shares of WWW stock opened at $19.27 on Monday. The company has a market cap of $1.58 billion, a PE ratio of 14.93, a price-to-earnings-growth ratio of 1.29 and a beta of 1.69. Wolverine World Wide has a 1 year low of $13.47 and a 1 year high of $27.73. The stock’s 50 day simple moving average is $19.63 and its two-hundred day simple moving average is $17.98. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.55 and a quick ratio of 0.98.

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

Wolverine World Wide Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Thursday, October 1st will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Thursday, October 1st. Wolverine World Wide’s payout ratio is presently 31.01%.

Institutional Investors Weigh In On Wolverine World Wide

Several hedge funds have recently modified their holdings of WWW. BlackRock Inc. bought a new position in shares of Wolverine World Wide in the 2nd quarter worth $204,878,000. Wellington Management Group LLP boosted its stake in Wolverine World Wide by 3.4% in the second quarter. Wellington Management Group LLP now owns 4,528,278 shares of the textile maker’s stock valued at $74,852,000 after acquiring an additional 146,791 shares in the last quarter. Callodine Capital Management LP boosted its stake in Wolverine World Wide by 27.8% in the first quarter. Callodine Capital Management LP now owns 4,505,165 shares of the textile maker’s stock valued at $73,524,000 after acquiring an additional 980,839 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Wolverine World Wide by 21.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,797,577 shares of the textile maker’s stock worth $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 during the second quarter worth $13,557,000. Hedge funds and other institutional investors own 90.25% of the company’s stock.

About Wolverine World Wide

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.