Stifel Financial Corp Sells 18,339 Shares of Wolverine World Wide, Inc. (NYSE:WWW)

Stifel Financial Corp reduced its stake in Wolverine World Wide, Inc. (NYSE:WWW) by 52.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,666 shares of the textile maker’s stock after selling 18,339 shares during the quarter. Stifel Financial Corp’s holdings in Wolverine World Wide were worth $290,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. bought a new stake in shares of Wolverine World Wide in the second quarter valued at about $64,295,000. Jennison Associates LLC bought a new stake in Wolverine World Wide in the 3rd quarter valued at approximately $10,974,000. Federated Hermes Inc. lifted its stake in Wolverine World Wide by 10,607.4% in the 2nd quarter. Federated Hermes Inc. now owns 540,402 shares of the textile maker’s stock valued at $7,306,000 after acquiring an additional 535,355 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its stake in shares of Wolverine World Wide by 51.0% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 994,483 shares of the textile maker’s stock worth $17,324,000 after acquiring an additional 335,669 shares in the last quarter. Finally, Landscape Capital Management L.L.C. acquired a new stake in shares of Wolverine World Wide in the third quarter valued at approximately $3,034,000. 90.25% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented 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. Stifel Nicolaus upgraded shares of 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 research note on Wednesday, December 11th. BNP Paribas upgraded Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 price objective for the company in a report on Thursday, October 3rd. Finally, StockNews.com upgraded Wolverine World Wide from a “hold” rating to a “buy” rating in a report on Wednesday, December 18th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Wolverine World Wide presently has a consensus rating of “Moderate Buy” and an average price target of $19.38.

Wolverine World Wide Trading Down 3.1 %

Wolverine World Wide stock opened at $22.48 on Friday. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.77 and a current ratio of 1.23. The stock has a 50-day simple moving average of $21.00 and a 200 day simple moving average of $16.59. The stock has a market capitalization of $1.80 billion, a P/E ratio of -25.26 and a beta of 1.89. Wolverine World Wide, Inc. has a 52 week low of $7.58 and a 52 week high of $24.64.

Wolverine World Wide Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 2nd will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend is Thursday, January 2nd. Wolverine World Wide’s payout ratio is presently -44.94%.

Insider Activity at Wolverine World Wide

In other Wolverine World Wide news, insider Amy M. Klimek sold 24,000 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $22.07, for a total value of $529,680.00. Following the transaction, the insider now directly owns 20,238 shares of the company’s stock, valued at $446,652.66. This represents a 54.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.28% of the stock is owned by company insiders.

Wolverine World Wide 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.