Wolverine World Wide (NYSE:WWW) Rating Lowered 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 report published on Friday morning.

Several other equities analysts also recently commented on WWW. BNP Paribas upgraded 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 reiterated a “market perform” rating and set a $15.00 price target on shares of Wolverine World Wide in a report on Thursday, November 7th. 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. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.38.

Wolverine World Wide Stock Performance

Wolverine World Wide stock opened at $22.41 on Friday. The company’s 50-day moving average price is $21.64 and its 200-day moving average price is $16.92. Wolverine World Wide has a twelve month low of $7.58 and a twelve month high of $24.64. The company has a quick ratio of 0.77, a current ratio of 1.23 and a debt-to-equity ratio of 1.91. The company has a market cap of $1.79 billion, a PE ratio of -25.18 and a beta of 1.88.

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 given a $0.10 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $0.40 annualized dividend and a yield of 1.78%. Wolverine World Wide’s dividend payout ratio (DPR) is -44.94%.

Insider Buying and Selling at Wolverine World Wide

In other news, insider Amy M. Klimek sold 24,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 20,238 shares of the company’s stock, valued at approximately $446,652.66. This represents a 54.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.28% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Wolverine World Wide

Several hedge funds have recently modified their holdings of WWW. Future Financial Wealth Managment LLC purchased a new stake in shares of Wolverine World Wide in the 3rd quarter worth approximately $35,000. Canada Pension Plan Investment Board purchased a new stake in shares of Wolverine World Wide in the 2nd quarter worth approximately $68,000. Cedar Mountain Advisors LLC purchased a new stake in shares of Wolverine World Wide in the 3rd quarter worth approximately $70,000. GAMMA Investing LLC lifted its position in shares of Wolverine World Wide by 15.9% in the 3rd 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 period. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Wolverine World Wide in the 3rd quarter worth approximately $113,000. 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.