Wolverine World Wide (NYSE:WWW) Upgraded at 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.

A number of other brokerages 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. Stifel Nicolaus upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating and boosted their target price for the company from $21.00 to $29.00 in a research note on Wednesday, December 11th. Finally, Telsey Advisory Group restated a “market perform” rating and set a $15.00 price target on shares of Wolverine World Wide in a research note on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $19.38.

Wolverine World Wide Stock Performance

Shares of Wolverine World Wide stock opened at $23.10 on Wednesday. The business’s fifty day simple moving average is $22.89 and its 200 day simple moving average is $17.87. The company has a current ratio of 1.23, a quick ratio of 0.77 and a debt-to-equity ratio of 1.91. Wolverine World Wide has a 12 month low of $8.05 and a 12 month high of $24.64. The firm has a market capitalization of $1.85 billion, a P/E ratio of -25.96 and a beta of 1.88.

Wolverine World Wide Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 2nd will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 1.73%. Wolverine World Wide’s payout ratio is -44.94%.

Insider Transactions at Wolverine World Wide

In related news, insider Isabel Soriano sold 7,687 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $23.57, for a total transaction of $181,182.59. Following the sale, the insider now owns 34,206 shares of the company’s stock, valued at approximately $806,235.42. This represents a 18.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Amy M. Klimek sold 24,000 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $446,652.66. The trade was a 54.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,901 shares of company stock valued at $916,266 over the last three months. Company insiders own 2.28% of the company’s stock.

Hedge Funds Weigh In On Wolverine World Wide

A number of institutional investors have recently added to or reduced their stakes in the business. Future Financial Wealth Managment LLC purchased a new stake in shares of Wolverine World Wide during the 3rd quarter valued at $35,000. Cedar Mountain Advisors LLC purchased a new stake in Wolverine World Wide during the third quarter valued at about $70,000. KBC Group NV lifted its stake in Wolverine World Wide by 43.8% during the fourth 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. GAMMA Investing LLC lifted 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 purchasing an additional 616 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Wolverine World Wide in the 2nd quarter worth about $68,000. 90.25% of the stock is currently owned by institutional investors.

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.