Wolverine World Wide (NYSE:WWW) Stock Rating Upgraded by StockNews.com

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

Other equities analysts have also recently issued research reports about the stock. Stifel Nicolaus upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating and upped their target price for the company from $21.00 to $29.00 in a research note on Wednesday, December 11th. Piper Sandler restated an “overweight” rating and set a $18.00 price objective on shares of Wolverine World Wide in a research report on Friday, August 23rd. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $15.00 target price on shares of Wolverine World Wide in a research report on Thursday, November 7th. Finally, BNP Paribas upgraded shares of Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 target price for the company in a research note on Thursday, October 3rd. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.38.

Wolverine World Wide Trading Down 4.8 %

Shares of NYSE:WWW opened at $22.05 on Wednesday. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.23 and a quick ratio of 0.77. Wolverine World Wide has a 1 year low of $7.58 and a 1 year high of $24.64. The company has a market cap of $1.77 billion, a P/E ratio of -24.78 and a beta of 1.89. The stock’s fifty day moving average price is $20.13 and its 200-day moving average price is $16.12.

Wolverine World Wide Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders 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 dividend yield of 1.81%. The ex-dividend date of this dividend is Thursday, January 2nd. Wolverine World Wide’s payout ratio is -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 that occurred 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 directly 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 document filed with the SEC, which is available through this hyperlink. Also, insider Amy M. Klimek sold 24,000 shares of the stock in a transaction on 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 directly owns 20,238 shares of the company’s stock, valued at approximately $446,652.66. This trade represents a 54.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,920 shares of company stock worth $866,240 in the last three months. Corporate insiders own 2.28% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Future Financial Wealth Managment LLC bought a new stake in Wolverine World Wide during the third quarter valued at about $35,000. Canada Pension Plan Investment Board bought a new position in shares of Wolverine World Wide in the second quarter worth about $68,000. Cedar Mountain Advisors LLC purchased a new stake in shares of Wolverine World Wide during the third quarter worth about $70,000. GAMMA Investing LLC raised its stake in Wolverine World Wide by 15.9% during the 3rd 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. Finally, Wilmington Savings Fund Society FSB purchased a new position in Wolverine World Wide in the 3rd quarter worth approximately $113,000. Institutional investors own 90.25% of the company’s stock.

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.