Wolverine World Wide, Inc. (NYSE:WWW) Receives $19.38 Consensus Price Target from Brokerages

Wolverine World Wide, Inc. (NYSE:WWW) has received a consensus rating of “Moderate Buy” from the ten research firms that are currently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $19.38.

A number of research analysts recently issued reports on the company. Stifel Nicolaus upgraded Wolverine World Wide from a “hold” rating to a “buy” rating and boosted their price objective for the company from $21.00 to $29.00 in a research note on Wednesday, December 11th. StockNews.com lowered shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a research report on Friday. BNP Paribas upgraded shares of 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. Finally, Telsey Advisory Group restated a “market perform” rating and set a $15.00 target price on shares of Wolverine World Wide in a research note on Thursday, November 7th.

Insider Buying and Selling at Wolverine World Wide

In other news, insider Amy M. Klimek sold 24,000 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 20,238 shares of the company’s stock, valued at $446,652.66. This represents a 54.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.28% of the company’s stock.

Institutional Investors Weigh In On Wolverine World Wide

Large investors have recently bought and sold shares of the business. Future Financial Wealth Managment LLC purchased a new position in shares of Wolverine World Wide in the 3rd quarter worth $35,000. Canada Pension Plan Investment Board bought a new position in shares of Wolverine World Wide in the 2nd quarter valued at about $68,000. Cedar Mountain Advisors LLC purchased a new position in Wolverine World Wide in the third quarter worth about $70,000. GAMMA Investing LLC increased its stake in Wolverine World Wide by 15.9% during the third quarter. GAMMA Investing LLC now owns 4,494 shares of the textile maker’s stock worth $78,000 after acquiring an additional 616 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Wolverine World Wide during the third quarter valued at approximately $113,000. Institutional investors own 90.25% of the company’s stock.

Wolverine World Wide Stock Performance

Shares of WWW opened at $22.41 on Wednesday. The business has a 50-day simple moving average of $21.64 and a two-hundred day simple moving average of $16.92. The company has a quick ratio of 0.77, a current ratio of 1.23 and a debt-to-equity ratio of 1.91. Wolverine World Wide has a 52 week low of $7.58 and a 52 week high of $24.64. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of -25.18 and a beta of 1.88.

Wolverine World Wide Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 2nd will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.78%. The ex-dividend date is Thursday, January 2nd. Wolverine World Wide’s payout ratio is currently -44.94%.

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.