Analysts Set Wolverine World Wide, Inc. (NYSE:WWW) Target Price at $18.00

Shares of Wolverine World Wide, Inc. (NYSE:WWW) have earned a consensus rating of “Moderate Buy” from the nine brokerages that are covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $18.00.

Several equities analysts have commented on the stock. KeyCorp upgraded shares of Wolverine World Wide from a “sector weight” rating to an “overweight” rating and set a $20.00 price objective for the company in a research report on Thursday, August 8th. Piper Sandler reaffirmed an “overweight” rating and issued a $18.00 price target on shares of Wolverine World Wide in a report on Friday, August 23rd. BNP Paribas upgraded Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 price target for the company in a research report on Thursday, October 3rd. Argus raised Wolverine World Wide to a “hold” rating in a research note on Friday, August 16th. Finally, UBS Group upgraded Wolverine World Wide from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $13.00 to $20.00 in a report on Friday, July 19th.

Wolverine World Wide Price Performance

NYSE:WWW opened at $22.03 on Tuesday. The business’s 50-day moving average is $16.47 and its 200 day moving average is $14.33. Wolverine World Wide has a 12 month low of $7.58 and a 12 month high of $22.86. The company has a current ratio of 1.23, a quick ratio of 0.77 and a debt-to-equity ratio of 1.91. The company has a market capitalization of $1.76 billion, a P/E ratio of -24.16 and a beta of 1.78.

Wolverine World Wide Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders 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 1.82%. The ex-dividend date is Thursday, January 2nd. Wolverine World Wide’s dividend payout ratio is currently -44.94%.

Insider Transactions at Wolverine World Wide

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Manning & Napier Advisors LLC purchased a new stake in shares of Wolverine World Wide in the 2nd quarter worth approximately $7,098,000. Federated Hermes Inc. raised its stake in Wolverine World Wide by 10,607.4% in the second quarter. Federated Hermes Inc. now owns 540,402 shares of the textile maker’s stock worth $7,306,000 after buying an additional 535,355 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Wolverine World Wide during the second quarter worth $548,000. US Bancorp DE boosted its position 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 valued at $641,000 after acquiring an additional 30,519 shares in the last quarter. Finally, Panagora Asset Management Inc. purchased a new position in shares of Wolverine World Wide in the 2nd quarter valued at $3,979,000. 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.