UBS Group Cuts Wolverine World Wide (NYSE:WWW) Price Target to $28.00

Wolverine World Wide (NYSE:WWW) had its price objective dropped by equities researchers at UBS Group from $39.00 to $28.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the textile maker’s stock. UBS Group’s price objective suggests a potential upside of 83.19% from the stock’s previous close.

Several other analysts also recently weighed in on the stock. KeyCorp cut their price objective 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. Robert W. Baird reduced their price objective on Wolverine World Wide from $35.00 to $23.00 and set an “outperform” rating for the company in a research report on Thursday. Weiss Ratings restated a “hold (c)” rating on shares of Wolverine World Wide in a research report on Wednesday, October 8th. Piper Sandler reiterated an “overweight” rating and set 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, Zacks Research lowered Wolverine World Wide from a “strong-buy” rating to a “hold” rating in a report on Monday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $24.86.

Wolverine World Wide Stock Performance

Shares of NYSE:WWW traded down $1.44 during trading on Thursday, reaching $15.29. 2,911,705 shares of the company’s stock traded hands, compared to its average volume of 1,638,239. The stock has a market capitalization of $1.24 billion, a P/E ratio of 14.98 and a beta of 1.83. Wolverine World Wide has a 12 month low of $9.58 and a 12 month high of $32.80. The company has a 50 day moving average of $27.52 and a 200-day moving average of $22.47. 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) last posted its earnings results on Wednesday, November 5th. The textile maker reported $0.36 EPS for the quarter, beating the consensus estimate of $0.33 by $0.03. The company had revenue of $470.30 million during the quarter, compared to analyst estimates of $461.46 million. Wolverine World Wide had a return on equity of 31.99% and a net margin of 4.73%.The business’s revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.28 earnings per share. Wolverine World Wide has set its FY 2025 guidance at 1.290-1.340 EPS. On average, equities analysts expect that Wolverine World Wide will post 1.23 EPS for the current year.

Insider Activity

In other news, insider Amy M. Klimek sold 11,528 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $22.32, for a total transaction of $257,304.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Brenda J. Lauderback sold 12,854 shares of the company’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $32.14, for a total transaction of $413,127.56. Following the sale, the director directly owned 48,675 shares of the company’s stock, valued at $1,564,414.50. This represents a 20.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 37,236 shares of company stock worth $1,079,704. Insiders own 2.28% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of WWW. Teacher Retirement System of Texas acquired a new stake in Wolverine World Wide during the 1st quarter worth about $163,000. Principal Financial Group Inc. boosted its holdings in shares of Wolverine World Wide by 2.3% during the first quarter. Principal Financial Group Inc. now owns 399,738 shares of the textile maker’s stock worth $5,560,000 after purchasing an additional 9,029 shares during the period. Nisa Investment Advisors LLC grew its position in Wolverine World Wide by 60.2% during the first quarter. Nisa Investment Advisors LLC now owns 57,987 shares of the textile maker’s stock valued at $807,000 after purchasing an additional 21,795 shares in the last quarter. Cerity Partners LLC increased its stake in Wolverine World Wide by 25.0% in the 1st quarter. Cerity Partners LLC now owns 16,728 shares of the textile maker’s stock valued at $233,000 after buying an additional 3,346 shares during the period. Finally, Jennison Associates LLC lifted its position in Wolverine World Wide by 24.9% in the 1st quarter. Jennison Associates LLC now owns 739,359 shares of the textile maker’s stock worth $10,284,000 after buying an additional 147,215 shares in the last quarter. Hedge funds and other institutional investors own 90.25% of the company’s stock.

Wolverine World Wide Company Profile

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.