Wolverine World Wide, Inc. (NYSE:WWW) Given Consensus Rating of “Moderate Buy” by Brokerages

Wolverine World Wide, Inc. (NYSE:WWW) has earned an average recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $18.00.

Several brokerages have commented on WWW. BNP Paribas upgraded shares of Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 target price for the company in a research report on Thursday, October 3rd. Piper Sandler restated an “overweight” rating and issued a $18.00 price objective on shares of Wolverine World Wide in a research report on Friday, August 23rd. Argus upgraded shares of Wolverine World Wide to a “hold” rating in a research report on Friday, August 16th. Finally, Telsey Advisory Group reaffirmed 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.

Insider Activity at Wolverine World Wide

In other news, insider David A. Latchana sold 7,706 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $17.02, for a total transaction of $131,156.12. Following the transaction, the insider now directly owns 13,889 shares of the company’s stock, valued at approximately $236,390.78. This trade represents a 35.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Amy M. Klimek sold 10,214 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $20.11, for a total transaction of $205,403.54. Following the transaction, the insider now directly 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 41,920 shares of company stock worth $866,240. Insiders own 2.28% of the company’s stock.

Institutional Trading of Wolverine World Wide

Large investors have recently made changes to their positions in the company. Future Financial Wealth Managment LLC acquired a new stake in Wolverine World Wide in the third quarter valued at approximately $35,000. Cedar Mountain Advisors LLC acquired a new position in shares of Wolverine World Wide during the third quarter worth $70,000. GAMMA Investing LLC lifted its holdings in shares of 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 period. Canada Pension Plan Investment Board acquired a new position in shares of Wolverine World Wide during the second quarter worth $68,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Wolverine World Wide during the third quarter worth $113,000. Institutional investors and hedge funds own 90.25% of the company’s stock.

Wolverine World Wide Stock Performance

WWW stock opened at $22.99 on Friday. The company has a 50 day moving average price of $19.18 and a 200 day moving average price of $15.56. The stock has a market capitalization of $1.84 billion, a PE ratio of -25.83 and a beta of 1.89. Wolverine World Wide has a fifty-two week low of $7.58 and a fifty-two week 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.

Wolverine World Wide Dividend Announcement

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 $0.10 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $0.40 annualized dividend and a yield of 1.74%. Wolverine World Wide’s dividend payout ratio (DPR) is currently -44.94%.

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.