Wolverine World Wide (NYSE:WWW) Sets New 1-Year High – Here’s What Happened

Wolverine World Wide, Inc. (NYSE:WWW) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $22.67 and last traded at $22.31, with a volume of 47140 shares traded. The stock had previously closed at $22.11.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Piper Sandler reaffirmed an “overweight” rating and set a $18.00 price target on shares of Wolverine World Wide in a report on Friday, August 23rd. Robert W. Baird increased their price objective on Wolverine World Wide from $13.00 to $15.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. BNP Paribas upgraded Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 price objective on the stock in a research report on Thursday, October 3rd. KeyCorp upgraded Wolverine World Wide from a “sector weight” rating to an “overweight” rating and set a $20.00 price objective on the stock in a research report on Thursday, August 8th. Finally, Argus upgraded Wolverine World Wide to a “hold” rating in a research report on Friday, August 16th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Wolverine World Wide presently has an average rating of “Moderate Buy” and an average price target of $18.00.

Wolverine World Wide Trading Up 2.4 %

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 has a 50-day moving average of $16.47 and a 200-day moving average of $14.33. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of -24.16 and a beta of 1.78.

Wolverine World Wide Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 2nd will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend is Thursday, January 2nd. Wolverine World Wide’s dividend payout ratio (DPR) is presently -44.94%.

Insider Transactions at Wolverine World Wide

In other news, insider Amy M. Klimek sold 24,000 shares of the company’s 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 transaction, the insider now directly owns 20,238 shares in the company, valued at approximately $446,652.66. This represents a 54.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $131,156.12. Following the transaction, the insider now owns 13,889 shares of the company’s stock, valued at $236,390.78. This trade represents a 35.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,920 shares of company stock worth $866,240 over the last quarter. Company insiders own 2.28% of the company’s stock.

Institutional Trading of Wolverine World Wide

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Captrust Financial Advisors boosted its position in Wolverine World Wide by 21.3% during the third quarter. Captrust Financial Advisors now owns 25,167 shares of the textile maker’s stock valued at $438,000 after acquiring an additional 4,413 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Wolverine World Wide by 4.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 184,108 shares of the textile maker’s stock worth $3,207,000 after purchasing an additional 8,187 shares in the last quarter. PEAK6 Investments LLC bought a new position in shares of Wolverine World Wide during the 3rd quarter worth about $510,000. BNP Paribas Financial Markets boosted its position in shares of Wolverine World Wide by 31.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 41,586 shares of the textile maker’s stock worth $724,000 after purchasing an additional 9,927 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Wolverine World Wide by 26.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 38,507 shares of the textile maker’s stock worth $671,000 after purchasing an additional 7,995 shares in the last quarter. 90.25% of the stock is currently owned by institutional investors and hedge funds.

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.