Wolverine World Wide, Inc. (NYSE:WWW) Given Consensus Rating of “Moderate Buy” by Analysts

Wolverine World Wide, Inc. (NYSE:WWW) has received a consensus rating of “Moderate Buy” from the nine brokerages that are covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $18.00.

Several research firms have weighed in on WWW. BNP Paribas raised 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 research note on Thursday, October 3rd. Piper Sandler reissued an “overweight” rating and set a $18.00 target price on shares of Wolverine World Wide in a research report on Friday, August 23rd. Argus raised shares of Wolverine World Wide to a “hold” rating in a research report on Friday, August 16th. Finally, Telsey Advisory Group restated a “market perform” rating and set a $15.00 price target on shares of Wolverine World Wide in a report on Thursday, November 7th.

Wolverine World Wide Price Performance

Shares of NYSE WWW opened at $22.99 on Friday. Wolverine World Wide has a twelve month low of $7.58 and a twelve month high of $24.16. The company has a quick ratio of 0.77, a current ratio of 1.23 and a debt-to-equity ratio of 1.91. The company has a market capitalization of $1.84 billion, a PE ratio of -25.83 and a beta of 1.89. The firm has a fifty day simple moving average of $19.18 and a 200 day simple moving average of $15.56.

Wolverine World Wide Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 2nd will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date is Thursday, January 2nd. Wolverine World Wide’s payout ratio is -44.94%.

Insider Activity

In other Wolverine World Wide news, insider David A. Latchana sold 7,706 shares of the stock in a transaction that occurred on 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 in the company, valued at $236,390.78. This represents a 35.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Amy M. Klimek sold 24,000 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $22.07, for a total transaction of $529,680.00. Following the completion of the sale, the insider now owns 20,238 shares in the company, valued at $446,652.66. This represents a 54.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,920 shares of company stock valued at $866,240 over the last quarter. Company insiders own 2.28% of the company’s stock.

Hedge Funds Weigh In On Wolverine World Wide

Several institutional investors and hedge funds have recently made changes to their positions in WWW. GAMMA Investing LLC grew its holdings 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 acquiring an additional 616 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Wolverine World Wide by 2.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 40,200 shares of the textile maker’s stock valued at $544,000 after purchasing an additional 800 shares in the last quarter. Hsbc Holdings PLC boosted its stake in shares of Wolverine World Wide by 9.3% during the 2nd quarter. Hsbc Holdings PLC now owns 11,425 shares of the textile maker’s stock valued at $153,000 after purchasing an additional 973 shares in the last quarter. Intech Investment Management LLC boosted its stake in shares of Wolverine World Wide by 5.0% during the 3rd quarter. Intech Investment Management LLC now owns 39,412 shares of the textile maker’s stock valued at $687,000 after purchasing an additional 1,866 shares in the last quarter. Finally, Future Financial Wealth Managment LLC bought a new stake in shares of Wolverine World Wide during the 3rd quarter valued at about $35,000. Institutional investors own 90.25% of the company’s stock.

About Wolverine World Wide

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.