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

Shares of Wolverine World Wide, Inc. (NYSE:WWW) have received an average rating of “Moderate Buy” from the nine research firms that are currently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $18.00.

Several brokerages have recently issued reports on WWW. Telsey Advisory Group reissued a “market perform” rating and set a $15.00 price target on shares of Wolverine World Wide in a research report on Thursday, November 7th. Piper Sandler reissued an “overweight” rating and issued a $18.00 price target on shares of Wolverine World Wide in a research report on Friday, August 23rd. BNP Paribas raised 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. Argus upgraded Wolverine World Wide to a “hold” rating in a report on Friday, August 16th. Finally, Robert W. Baird upped their price target on Wolverine World Wide from $13.00 to $15.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th.

Wolverine World Wide Stock Performance

WWW stock opened at $21.89 on Tuesday. The business’s fifty day moving average price is $16.80 and its 200 day moving average price is $14.52. 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.

Wolverine World Wide Dividend Announcement

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 issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date is Thursday, January 2nd. Wolverine World Wide’s dividend payout ratio (DPR) is -44.94%.

Insider Activity

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 shares were sold at an average price of $17.02, for a total value of $131,156.12. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Amy M. Klimek sold 10,214 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $20.11, for a total value of $205,403.54. Following the transaction, the insider now directly owns 19,093 shares in the company, valued at approximately $383,960.23. The trade was a 34.85 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,920 shares of company stock worth $866,240. 2.28% of the stock is currently owned by insiders.

Institutional Trading of Wolverine World Wide

A number of large investors have recently made changes to their positions in WWW. Earnest Partners LLC grew its position in shares of Wolverine World Wide by 1.7% during the second quarter. Earnest Partners LLC now owns 5,321,797 shares of the textile maker’s stock worth $71,951,000 after acquiring an additional 90,407 shares during the last quarter. Pacer Advisors Inc. acquired a new stake in Wolverine World Wide during the 2nd quarter worth $64,295,000. State Street Corp raised its holdings in shares of Wolverine World Wide by 0.5% in the third quarter. State Street Corp now owns 3,065,736 shares of the textile maker’s stock valued at $53,405,000 after buying an additional 16,228 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Wolverine World Wide by 1.0% during the third quarter. Geode Capital Management LLC now owns 1,791,789 shares of the textile maker’s stock worth $31,219,000 after buying an additional 17,400 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its holdings in shares of Wolverine World Wide by 51.0% during the third quarter. Jacobs Levy Equity Management Inc. now owns 994,483 shares of the textile maker’s stock worth $17,324,000 after buying an additional 335,669 shares during the last quarter. 90.25% of the stock is 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.