Wolverine World Wide (NYSE:WWW) Rating Lowered to “Hold” at StockNews.com

Wolverine World Wide (NYSE:WWW) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report released on Friday.

Other analysts have also issued research reports about the company. BNP Paribas upgraded Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 price target on the stock in a report on Thursday, October 3rd. Telsey Advisory Group reaffirmed a “market perform” rating and set a $15.00 price target 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 increased their price objective for the stock from $21.00 to $29.00 in a research report on Wednesday, December 11th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $19.38.

Wolverine World Wide Price Performance

Shares of Wolverine World Wide stock opened at $22.41 on Friday. The firm has a market cap of $1.79 billion, a PE ratio of -25.18 and a beta of 1.88. The stock has a 50 day moving average of $21.64 and a 200 day moving average of $16.89. The company has a current ratio of 1.23, a quick ratio of 0.77 and a debt-to-equity ratio of 1.91. Wolverine World Wide has a 12 month low of $7.58 and a 12 month high of $24.64.

Insider Activity

In other Wolverine World Wide news, insider Amy M. Klimek sold 24,000 shares of Wolverine World Wide stock in a transaction dated 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 of the company’s stock, valued at approximately $446,652.66. The trade was a 54.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 2.28% of the company’s stock.

Institutional Trading of Wolverine World Wide

Several large investors have recently made changes to their positions in the business. Pacer Advisors Inc. purchased a new position in Wolverine World Wide during the second quarter valued at approximately $64,295,000. JPMorgan Chase & Co. grew its position in Wolverine World Wide by 1,263.0% during the third quarter. JPMorgan Chase & Co. now owns 1,426,942 shares of the textile maker’s stock valued at $24,857,000 after buying an additional 1,322,254 shares during the period. Jennison Associates LLC acquired a new position in shares of Wolverine World Wide in the third quarter worth about $10,974,000. Federated Hermes Inc. boosted its stake in shares of Wolverine World Wide by 10,607.4% during the 2nd quarter. Federated Hermes Inc. now owns 540,402 shares of the textile maker’s stock worth $7,306,000 after acquiring an additional 535,355 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its position in shares of Wolverine World Wide by 51.0% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 994,483 shares of the textile maker’s stock valued at $17,324,000 after acquiring an additional 335,669 shares during the period. 90.25% of the stock is owned by hedge funds and other institutional investors.

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.