Wolverine World Wide (NYSE:WWW) Raised to “Buy” at Stifel Nicolaus

Wolverine World Wide (NYSE:WWW) was upgraded by analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, MarketBeat reports. The brokerage presently has a $29.00 price objective on the textile maker’s stock, up from their previous price objective of $21.00. Stifel Nicolaus’ price target indicates a potential upside of 22.47% from the stock’s previous close.

A number of other research firms have also weighed in on WWW. Argus raised shares of Wolverine World Wide to a “hold” rating in a research note on Friday, August 16th. Piper Sandler reiterated an “overweight” rating and set a $18.00 price objective on shares of Wolverine World Wide in a research report on Friday, August 23rd. BNP Paribas upgraded Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 target price for the company in a report on Thursday, October 3rd. 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. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Wolverine World Wide presently has an average rating of “Moderate Buy” and an average target price of $19.38.

Wolverine World Wide Stock Performance

NYSE WWW opened at $23.68 on Wednesday. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.23 and a quick ratio of 0.77. The stock’s 50 day simple moving average is $19.65 and its 200-day simple moving average is $15.84. The company has a market cap of $1.90 billion, a PE ratio of -26.61 and a beta of 1.89. Wolverine World Wide has a 1-year low of $7.58 and a 1-year high of $24.64.

Insider Activity at Wolverine World Wide

In other news, insider Amy M. Klimek sold 24,000 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $22.07, for a total transaction of $529,680.00. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David A. Latchana sold 7,706 shares of Wolverine World Wide stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $17.02, for a total value of $131,156.12. Following the completion of the transaction, the insider now 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,920 shares of company stock worth $866,240. 2.28% of the stock is currently owned by company insiders.

Institutional Trading of Wolverine World Wide

Several hedge funds have recently added to or reduced their stakes in WWW. GAMMA Investing LLC raised its holdings 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 valued at $78,000 after purchasing an additional 616 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in Wolverine World Wide by 2.0% in the second quarter. Louisiana State Employees Retirement System now owns 40,200 shares of the textile maker’s stock valued at $544,000 after buying an additional 800 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in Wolverine World Wide by 9.3% during the 2nd quarter. Hsbc Holdings PLC now owns 11,425 shares of the textile maker’s stock worth $153,000 after buying an additional 973 shares during the last quarter. Intech Investment Management LLC boosted its position in shares of Wolverine World Wide by 5.0% during the 3rd quarter. Intech Investment Management LLC now owns 39,412 shares of the textile maker’s stock worth $687,000 after acquiring an additional 1,866 shares in the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new position in shares of Wolverine World Wide during the 3rd quarter worth about $35,000. Institutional investors and hedge funds 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.