Wolverine World Wide (NYSE:WWW) Cut to “Hold” at StockNews.com

StockNews.com cut shares of Wolverine World Wide (NYSE:WWW) from a buy rating to a hold rating in a research report sent to investors on Friday morning.

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

Wolverine World Wide Trading Down 0.9 %

NYSE:WWW opened at $22.41 on Friday. The company has a market cap of $1.79 billion, a P/E ratio of -25.18 and a beta of 1.88. The stock’s fifty day moving average price is $21.64 and its two-hundred day moving average price is $16.92. Wolverine World Wide has a 1 year low of $7.58 and a 1 year high of $24.64. 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 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 2nd will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend is Thursday, January 2nd. Wolverine World Wide’s dividend payout ratio (DPR) is -44.94%.

Insider Activity at Wolverine World Wide

In other Wolverine World Wide news, insider Amy M. Klimek sold 24,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $22.07, for a total value of $529,680.00. Following the sale, the insider now owns 20,238 shares in the company, valued at $446,652.66. The trade was a 54.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.28% of the stock is owned by corporate insiders.

Institutional Trading of Wolverine World Wide

Several hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC lifted its stake in Wolverine World Wide by 12.5% in the 4th quarter. GAMMA Investing LLC now owns 5,057 shares of the textile maker’s stock worth $112,000 after purchasing an additional 563 shares in the last quarter. Hsbc Holdings PLC lifted its stake in Wolverine World Wide by 9.3% in the 2nd quarter. Hsbc Holdings PLC now owns 11,425 shares of the textile maker’s stock worth $153,000 after purchasing an additional 973 shares in the last quarter. Intech Investment Management LLC lifted its stake in Wolverine World Wide by 5.0% in the 3rd 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 in the last quarter. Future Financial Wealth Managment LLC bought a new stake in shares of Wolverine World Wide in the 3rd quarter worth about $35,000. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Wolverine World Wide by 7.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,512 shares of the textile maker’s stock worth $413,000 after buying an additional 2,138 shares during the last quarter. Hedge funds and other 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.