StockNews.com upgraded shares of Wolverine World Wide (NYSE:WWW - Free Report) from a hold rating to a buy rating in a research report released on Wednesday morning.
WWW has been the topic of several other research reports. Stifel Nicolaus upgraded Wolverine World Wide from a "hold" rating to a "buy" rating and increased their target price for the stock from $21.00 to $29.00 in a 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 report on Thursday, October 3rd. Finally, Telsey Advisory Group reaffirmed 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. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $19.38.
Check Out Our Latest Analysis on Wolverine World Wide
Wolverine World Wide Price Performance
Shares of WWW traded down $0.35 on Wednesday, hitting $22.54. The company's stock had a trading volume of 1,333,932 shares, compared to its average volume of 1,213,779. The company has a market capitalization of $1.80 billion, a PE ratio of -25.33 and a beta of 1.88. Wolverine World Wide has a fifty-two week low of $8.05 and a fifty-two week high of $24.64. The company has a 50 day moving average price of $22.83 and a 200 day moving average price of $17.74. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.23 and a quick ratio of 0.77.
Wolverine World Wide Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 2nd will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date is Thursday, January 2nd. Wolverine World Wide's dividend payout ratio is presently -44.94%.
Insider Buying and Selling at Wolverine World Wide
In related news, insider Isabel Soriano sold 7,687 shares of the company's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $23.57, for a total value of $181,182.59. Following the completion of the sale, the insider now owns 34,206 shares in the company, valued at $806,235.42. This represents a 18.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Amy M. Klimek sold 10,214 shares of Wolverine World Wide stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $20.11, for a total value of $205,403.54. Following the transaction, the insider now owns 19,093 shares in the company, valued at approximately $383,960.23. This represents a 34.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 41,901 shares of company stock worth $916,266. Insiders own 2.28% of the company's stock.
Institutional Investors Weigh In On Wolverine World Wide
A number of hedge funds have recently modified their holdings of WWW. US Bancorp DE increased its stake in Wolverine World Wide by 487.8% during the 3rd quarter. US Bancorp DE now owns 36,776 shares of the textile maker's stock worth $641,000 after purchasing an additional 30,519 shares in the last quarter. Landscape Capital Management L.L.C. bought a new stake in shares of Wolverine World Wide in the third quarter valued at about $3,034,000. XTX Topco Ltd lifted its stake in Wolverine World Wide by 338.6% in the 3rd quarter. XTX Topco Ltd now owns 47,346 shares of the textile maker's stock valued at $825,000 after acquiring an additional 36,551 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Wolverine World Wide by 1,263.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,426,942 shares of the textile maker's stock worth $24,857,000 after acquiring an additional 1,322,254 shares during the last quarter. Finally, Intech Investment Management LLC bought a new position in shares of Wolverine World Wide during the 2nd quarter worth approximately $508,000. Institutional investors and hedge funds own 90.25% of the company's stock.
About Wolverine World Wide
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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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