Wolverine World Wide (NYSE:WWW) Lowered to "Hold" Rating by StockNews.com

StockNews.com cut shares of Wolverine World Wide (NYSE:WWW - Free Report) from a buy rating to a hold rating in a research report released on Tuesday.

A number of other brokerages also recently issued reports on WWW. Stifel Nicolaus raised shares of Wolverine World Wide from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $21.00 to $29.00 in a research report on Wednesday, December 11th. BNP Paribas raised shares of Wolverine World Wide from a "neutral" rating to an "outperform" rating and set a $22.00 price objective on the stock in a research note on Thursday, October 3rd. Finally, Telsey Advisory Group reiterated a "market perform" rating and issued a $15.00 target price on shares of Wolverine World Wide in a research note on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $19.38.

Wolverine World Wide Stock Up 1.6 %

Shares of NYSE:WWW traded up $0.37 during trading hours on Tuesday, hitting $23.04. The company's stock had a trading volume of 394,239 shares, compared to its average volume of 1,085,341. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.23 and a quick ratio of 0.77. The firm's fifty day moving average price is $22.48 and its 200 day moving average price is $17.32. Wolverine World Wide has a 52 week low of $7.88 and a 52 week high of $24.64. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of -25.89 and a beta of 1.88.

Wolverine World Wide Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 2nd will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.74%. The ex-dividend date is Thursday, January 2nd. Wolverine World Wide's payout ratio is presently -44.94%.

Insider Buying and Selling

In other news, insider Amy M. Klimek sold 24,000 shares of Wolverine World Wide stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $22.07, for a total value of $529,680.00. Following the completion of the sale, the insider now directly owns 20,238 shares of the company's stock, valued at approximately $446,652.66. The trade was a 54.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.28% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Wolverine World Wide

Several institutional investors have recently bought and sold shares of the company. Future Financial Wealth Managment LLC acquired a new position in shares of Wolverine World Wide in the third quarter worth $35,000. Cedar Mountain Advisors LLC acquired a new stake in Wolverine World Wide during the 3rd quarter worth $70,000. GAMMA Investing LLC boosted its stake in Wolverine World Wide by 15.9% in the third quarter. GAMMA Investing LLC now owns 4,494 shares of the textile maker's stock valued at $78,000 after acquiring an additional 616 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Wolverine World Wide in the 2nd quarter valued at about $68,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Wolverine World Wide during the third quarter worth $113,000. 90.25% of the stock is owned by institutional investors and hedge funds.

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.