Wolverine World Wide (NYSE:WWW) Stock Rating Upgraded by Stifel Nicolaus

Wolverine World Wide (NYSE:WWW) was upgraded by equities research analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a $29.00 target price on the textile maker’s stock, up from their previous target price of $21.00. Stifel Nicolaus’ target price indicates a potential upside of 27.70% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. Piper Sandler reissued an “overweight” rating and set 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 target price on the stock in a report on Thursday, October 3rd. Argus raised Wolverine World Wide to a “hold” rating in a report on Friday, August 16th. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $15.00 price objective on shares of Wolverine World Wide in a report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $19.38.

Wolverine World Wide Stock Performance

Shares of WWW opened at $22.71 on Wednesday. The company has a market cap of $1.82 billion, a PE ratio of -25.52 and a beta of 1.89. The firm has a 50-day moving average of $19.40 and a 200-day moving average of $15.73. Wolverine World Wide has a one year low of $7.58 and a one year high of $24.16. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.23 and a quick ratio of 0.77.

Insider Activity at Wolverine World Wide

In related news, insider David A. Latchana sold 7,706 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was 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 of the company’s stock, valued at $236,390.78. The trade was a 35.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Amy M. Klimek sold 24,000 shares of the firm’s stock in a transaction dated 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 41,920 shares of company stock worth $866,240. Corporate insiders own 2.28% of the company’s stock.

Institutional Trading of Wolverine World Wide

Several large investors have recently made changes to their positions in the company. GAMMA Investing LLC raised its position 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 valued at $78,000 after purchasing an additional 616 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in shares of Wolverine World Wide by 2.0% in the 2nd quarter. Louisiana State Employees Retirement System now owns 40,200 shares of the textile maker’s stock valued at $544,000 after purchasing an additional 800 shares during the last quarter. Hsbc Holdings PLC raised its holdings in shares of Wolverine World Wide by 9.3% during the 2nd quarter. Hsbc Holdings PLC now owns 11,425 shares of the textile maker’s stock worth $153,000 after buying an additional 973 shares in the last quarter. Intech Investment Management LLC lifted its position in shares of Wolverine World Wide by 5.0% during the 3rd quarter. Intech Investment Management LLC now owns 39,412 shares of the textile maker’s stock worth $687,000 after buying an additional 1,866 shares during the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new stake in Wolverine World Wide in the third quarter valued at about $35,000. Institutional investors and hedge funds 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.