Wolverine World Wide (NYSE:WWW) Raised 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 research note issued to investors on Wednesday.

Several other brokerages have also recently weighed in on WWW. Telsey Advisory Group restated a “market perform” rating and set a $15.00 target price on shares of Wolverine World Wide in a report on Thursday, November 7th. BNP Paribas upgraded shares of 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. Finally, Stifel Nicolaus upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating and upped their price target for the company from $21.00 to $29.00 in a report on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $19.38.

Wolverine World Wide Stock Performance

NYSE WWW opened at $23.10 on Wednesday. The company has a 50-day simple moving average of $22.89 and a two-hundred day simple moving average of $17.87. Wolverine World Wide has a 12-month low of $8.05 and a 12-month high of $24.64. The firm has a market cap of $1.85 billion, a price-to-earnings ratio of -25.96 and a beta of 1.88. 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 Dividend Announcement

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

Insider Transactions at Wolverine World Wide

In other news, insider Isabel Soriano sold 7,687 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 34,206 shares in the company, valued at $806,235.42. This trade represents a 18.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Amy M. Klimek sold 10,214 shares of Wolverine World Wide stock in a transaction that occurred on Thursday, November 7th. The shares were 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 in the company, valued at $383,960.23. This represents a 34.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,901 shares of company stock valued at $916,266. Company insiders own 2.28% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Pacer Advisors Inc. bought a new position in Wolverine World Wide during the 4th quarter valued at approximately $64,943,000. KBC Group NV grew its stake in shares of Wolverine World Wide by 43.8% in the fourth quarter. KBC Group NV now owns 4,303 shares of the textile maker’s stock worth $96,000 after acquiring an additional 1,311 shares during the last quarter. Sheets Smith Wealth Management bought a new position in shares of Wolverine World Wide during the fourth quarter valued at $273,000. Range Financial Group LLC purchased a new position in shares of Wolverine World Wide in the 4th quarter worth about $1,072,000. Finally, GAMMA Investing LLC boosted 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. 90.25% of the stock is owned by hedge funds and other 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.