Wolverine World Wide (NYSE:WWW) Downgraded to Hold Rating by StockNews.com

StockNews.com cut shares of Wolverine World Wide (NYSE:WWW) from a buy rating to a hold rating in a research report released on Tuesday.

WWW has been the topic of a number of other research reports. Telsey Advisory Group restated a “market perform” rating and set a $15.00 price target on shares of Wolverine World Wide in a research report on Thursday, November 7th. Stifel Nicolaus upgraded Wolverine World Wide from a “hold” rating to a “buy” rating and increased their price objective for the stock from $21.00 to $29.00 in a report on Wednesday, December 11th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Wolverine World Wide presently has a consensus rating of “Moderate Buy” and an average target price of $19.38.

Wolverine World Wide Trading Down 1.4 %

Shares of WWW opened at $20.50 on Tuesday. The business’s 50-day moving average price is $22.73 and its 200-day moving average price is $18.63. 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 has a twelve month low of $8.25 and a twelve month high of $24.64. The stock has a market cap of $1.64 billion, a PE ratio of -23.03 and a beta of 1.88.

Wolverine World Wide Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.10 per share. The ex-dividend date is Tuesday, April 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.95%. Wolverine World Wide’s dividend payout ratio is currently -44.94%.

Insider Activity

In other Wolverine World Wide news, insider Isabel Soriano sold 7,687 shares of the stock in a transaction 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 sale, the insider now owns 34,206 shares in the company, valued at approximately $806,235.42. This represents a 18.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.28% of the company’s stock.

Institutional Investors Weigh In On Wolverine World Wide

A number of hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC raised its holdings in Wolverine World Wide by 12.5% during the 4th quarter. GAMMA Investing LLC now owns 5,057 shares of the textile maker’s stock valued at $112,000 after buying an additional 563 shares during the period. HighTower Advisors LLC lifted its holdings in Wolverine World Wide by 5.2% during the fourth quarter. HighTower Advisors LLC now owns 11,526 shares of the textile maker’s stock worth $256,000 after buying an additional 574 shares during the period. Signaturefd LLC boosted its position in Wolverine World Wide by 88.8% during the fourth quarter. Signaturefd LLC now owns 1,450 shares of the textile maker’s stock valued at $32,000 after purchasing an additional 682 shares in the last quarter. Natixis Advisors LLC boosted its holdings in shares of Wolverine World Wide by 3.8% in the 4th quarter. Natixis Advisors LLC now owns 28,608 shares of the textile maker’s stock valued at $635,000 after buying an additional 1,035 shares in the last quarter. Finally, SBI Securities Co. Ltd. purchased a new position in Wolverine World Wide in the fourth quarter worth $25,000. 90.25% of the stock is currently 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.