Wolverine World Wide (NYSE:WWW) Upgraded to Buy at StockNews.com

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

Several other research firms have also issued reports on WWW. BNP Paribas upgraded Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 price objective for the company in a research note on Thursday, October 3rd. Stifel Nicolaus raised shares of Wolverine World Wide from a “hold” rating to a “buy” rating and upped their target price for the stock from $21.00 to $29.00 in a report on Wednesday, December 11th. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $15.00 price target on shares of Wolverine World Wide in a report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Wolverine World Wide has a consensus rating of “Moderate Buy” and a consensus target price of $19.38.

Wolverine World Wide Trading Down 1.5 %

WWW stock opened at $22.54 on Wednesday. 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 firm has a market cap of $1.80 billion, a P/E ratio of -25.33 and a beta of 1.88. Wolverine World Wide has a 1-year low of $8.05 and a 1-year high of $24.64. The business’s 50 day moving average is $22.83 and its 200-day moving average is $17.74.

Wolverine World Wide Announces Dividend

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 given a dividend of $0.10 per share. The ex-dividend date is Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.77%. Wolverine World Wide’s payout ratio is -44.94%.

Insider Activity

In other Wolverine World Wide news, insider Isabel Soriano sold 7,687 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $23.57, for a total value of $181,182.59. Following the transaction, the insider now directly owns 34,206 shares in the company, valued at approximately $806,235.42. This trade represents a 18.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Amy M. Klimek sold 10,214 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $20.11, for a total value of $205,403.54. Following the sale, the insider now owns 19,093 shares of the company’s stock, 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. Insiders have sold 41,901 shares of company stock valued at $916,266 over the last three months. 2.28% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of WWW. GAMMA Investing LLC lifted its holdings in Wolverine World Wide by 12.5% in the fourth quarter. GAMMA Investing LLC now owns 5,057 shares of the textile maker’s stock valued at $112,000 after buying an additional 563 shares during the period. Hsbc Holdings PLC lifted its stake in shares of Wolverine World Wide by 9.3% in the 2nd quarter. Hsbc Holdings PLC now owns 11,425 shares of the textile maker’s stock valued at $153,000 after purchasing an additional 973 shares during the period. KBC Group NV boosted its position in shares of Wolverine World Wide by 43.8% in the 4th quarter. KBC Group NV now owns 4,303 shares of the textile maker’s stock worth $96,000 after purchasing an additional 1,311 shares during the last quarter. Intech Investment Management LLC grew its stake in shares of Wolverine World Wide by 5.0% during the third quarter. Intech Investment Management LLC now owns 39,412 shares of the textile maker’s stock worth $687,000 after purchasing an additional 1,866 shares during the period. Finally, Future Financial Wealth Managment LLC bought a new stake in Wolverine World Wide in the third quarter valued at about $35,000. Institutional investors own 90.25% of the company’s stock.

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.