StockNews.com Upgrades Wolverine World Wide (NYSE:WWW) to “Buy”

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

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

Wolverine World Wide Stock Performance

WWW opened at $23.06 on Wednesday. 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 firm has a market cap of $1.85 billion, a PE ratio of -25.91 and a beta of 1.89. The business has a fifty day simple moving average of $20.38 and a 200-day simple moving average of $16.23. Wolverine World Wide has a fifty-two week low of $7.58 and a fifty-two week high of $24.64.

Wolverine World Wide Dividend Announcement

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 dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date is Thursday, January 2nd. Wolverine World Wide’s dividend payout ratio (DPR) is currently -44.94%.

Insider Activity

In other news, insider David A. Latchana sold 7,706 shares of the stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $17.02, for a total transaction of $131,156.12. Following the transaction, the insider now owns 13,889 shares in the company, valued at $236,390.78. This represents a 35.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Amy M. Klimek sold 24,000 shares of Wolverine World Wide stock in a transaction on Tuesday, November 12th. The shares were 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 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 41,920 shares of company stock worth $866,240 in the last ninety days. Corporate insiders own 2.28% of the company’s stock.

Hedge Funds Weigh In On Wolverine World Wide

Institutional investors have recently bought and sold shares of the stock. Future Financial Wealth Managment LLC acquired a new position in shares of Wolverine World Wide during the 3rd quarter valued at about $35,000. Cedar Mountain Advisors LLC acquired a new position in Wolverine World Wide during the third quarter valued at approximately $70,000. GAMMA Investing LLC raised its position in shares of 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 purchasing an additional 616 shares during the period. Canada Pension Plan Investment Board acquired a new stake in shares of Wolverine World Wide in the second quarter worth $68,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Wolverine World Wide during the 3rd quarter worth $113,000. 90.25% of the stock is currently owned by institutional investors.

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.