Wolverine World Wide (NYSE:WWW) Upgraded by StockNews.com to “Buy” Rating

StockNews.com upgraded shares of Wolverine World Wide (NYSE:WWW) from a hold rating to a buy rating in a research report report published on Wednesday.

A number of other equities research analysts have also commented on WWW. BNP Paribas upgraded shares of Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 price target for the company in a report on Thursday, October 3rd. Telsey Advisory Group reaffirmed a “market perform” rating and set a $15.00 price objective on shares of Wolverine World Wide in a research note on Thursday, November 7th. Stifel Nicolaus raised Wolverine World Wide from a “hold” rating to a “buy” rating and raised their target price for the stock from $21.00 to $29.00 in a research note on Wednesday, December 11th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $18.00 price target on shares of Wolverine World Wide in a research report on Friday, August 23rd. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Wolverine World Wide has a consensus rating of “Moderate Buy” and an average price target of $19.38.

Wolverine World Wide Price Performance

Shares of Wolverine World Wide stock opened at $22.05 on Wednesday. The stock has a market capitalization of $1.77 billion, a P/E ratio of -24.78 and a beta of 1.89. Wolverine World Wide has a one year low of $7.58 and a one year high of $24.64. 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 business’s 50 day simple moving average is $20.13 and its two-hundred day simple moving average is $16.12.

Wolverine World Wide Dividend Announcement

The company 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. The ex-dividend date is Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.81%. Wolverine World Wide’s dividend payout ratio (DPR) is -44.94%.

Insider Transactions at Wolverine World Wide

In other news, insider David A. Latchana sold 7,706 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $17.02, for a total value of $131,156.12. Following the sale, the insider now directly owns 13,889 shares of the company’s stock, valued at $236,390.78. This represents a 35.68 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Amy M. Klimek sold 24,000 shares of Wolverine World Wide stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $22.07, for a total transaction of $529,680.00. Following the transaction, the insider now directly owns 20,238 shares of the company’s stock, valued at approximately $446,652.66. This trade represents a 54.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,920 shares of company stock valued at $866,240. Corporate insiders own 2.28% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Future Financial Wealth Managment LLC bought a new stake in Wolverine World Wide in the third quarter worth $35,000. Cedar Mountain Advisors LLC purchased a new position in shares of Wolverine World Wide in the 3rd quarter worth about $70,000. GAMMA Investing LLC boosted its stake in Wolverine World Wide by 15.9% in the 3rd quarter. GAMMA Investing LLC now owns 4,494 shares of the textile maker’s stock worth $78,000 after purchasing an additional 616 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in Wolverine World Wide during the 2nd quarter valued at about $68,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in Wolverine World Wide during the 3rd quarter valued at about $113,000. 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.