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Weiss Ratings Reiterates Hold (C) Rating for Wolverine World Wide (NYSE:WWW)

Wolverine World Wide logo with Consumer Discretionary background

Key Points

  • Weiss Ratings has reiterated a "hold (C)" rating for Wolverine World Wide (NYSE: WWW) amidst other mixed assessments from different analysts.
  • Institutional investors hold about 90.25% of Wolverine World Wide's stock, with significant recent investments from firms like GAMMA Investing LLC and Manning & Napier Advisors LLC.
  • Wolverine World Wide reported a quarterly earnings beat with earnings per share of $0.35, surpassing expectations and reflecting an 11.5% year-over-year revenue increase.
  • MarketBeat previews the top five stocks to own by November 1st.

Wolverine World Wide (NYSE:WWW - Get Free Report)'s stock had its "hold (c)" rating restated by equities researchers at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

WWW has been the subject of several other research reports. Piper Sandler restated an "overweight" rating and issued a $25.00 price objective (up previously from $20.00) on shares of Wolverine World Wide in a report on Tuesday, August 5th. Telsey Advisory Group restated a "market perform" rating and issued a $29.00 price objective (up previously from $17.00) on shares of Wolverine World Wide in a report on Wednesday, August 6th. UBS Group raised their price objective on Wolverine World Wide from $30.00 to $36.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Stifel Nicolaus lifted their price target on Wolverine World Wide from $30.00 to $36.00 and gave the stock a "buy" rating in a report on Wednesday, August 27th. Finally, Wall Street Zen upgraded Wolverine World Wide from a "buy" rating to a "strong-buy" rating in a report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Wolverine World Wide has a consensus rating of "Moderate Buy" and a consensus target price of $28.29.

View Our Latest Stock Report on WWW

Wolverine World Wide Stock Up 1.8%

Shares of WWW traded up $0.46 during midday trading on Wednesday, hitting $25.54. The stock had a trading volume of 451,290 shares, compared to its average volume of 1,572,539. The company has a 50 day simple moving average of $28.60 and a two-hundred day simple moving average of $20.56. Wolverine World Wide has a twelve month low of $9.58 and a twelve month high of $32.80. The firm has a market cap of $2.08 billion, a price-to-earnings ratio of 25.03 and a beta of 1.81. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.24 and a quick ratio of 0.75.

Wolverine World Wide (NYSE:WWW - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The textile maker reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.12. The company had revenue of $474.20 million during the quarter, compared to analysts' expectations of $447.82 million. Wolverine World Wide had a return on equity of 31.99% and a net margin of 4.73%.Wolverine World Wide's revenue for the quarter was up 11.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.15 EPS. On average, analysts anticipate that Wolverine World Wide will post 1.23 EPS for the current year.

Insider Buying and Selling

In other news, Director Brenda J. Lauderback sold 12,854 shares of the business's stock in a transaction that occurred 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 completion of the sale, the director owned 48,675 shares in the company, valued at $1,564,414.50. The trade was a 20.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Nicholas T. Long sold 12,854 shares of the business's stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $31.84, for a total value of $409,271.36. Following the sale, the director owned 76,268 shares of the company's stock, valued at approximately $2,428,373.12. This represents a 14.42% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.28% of the company's stock.

Institutional Investors Weigh In On Wolverine World Wide

A number of hedge funds and other institutional investors have recently made changes to their positions in WWW. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Wolverine World Wide in the fourth quarter valued at approximately $204,000. GAMMA Investing LLC raised its position in shares of Wolverine World Wide by 1,380.1% in the first quarter. GAMMA Investing LLC now owns 74,850 shares of the textile maker's stock valued at $1,041,000 after buying an additional 69,793 shares in the last quarter. Rhumbline Advisers raised its position in shares of Wolverine World Wide by 0.8% in the first quarter. Rhumbline Advisers now owns 226,441 shares of the textile maker's stock valued at $3,150,000 after buying an additional 1,852 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Wolverine World Wide by 320.2% in the first quarter. SG Americas Securities LLC now owns 21,980 shares of the textile maker's stock valued at $306,000 after buying an additional 16,749 shares in the last quarter. Finally, Manning & Napier Advisors LLC raised its position in shares of Wolverine World Wide by 64.6% in the first quarter. Manning & Napier Advisors LLC now owns 800,000 shares of the textile maker's stock valued at $11,128,000 after buying an additional 313,997 shares in the last quarter. 90.25% of the stock is currently owned by institutional investors and hedge funds.

About Wolverine World Wide

(Get Free Report)

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.

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Analyst Recommendations for Wolverine World Wide (NYSE:WWW)

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