Wolverine World Wide, Inc. (NYSE:WWW) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Wolverine World Wide, Inc. (NYSE:WWW) has been assigned an average recommendation of “Moderate Buy” from the nine research firms that are covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $18.00.

WWW has been the topic of several analyst reports. Piper Sandler reaffirmed an “overweight” rating and set a $18.00 target price on shares of Wolverine World Wide in a report on Friday, August 23rd. Argus raised shares of Wolverine World Wide to a “hold” rating in a research note on Friday, August 16th. Telsey Advisory Group reiterated 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. KeyCorp upgraded shares of Wolverine World Wide from a “sector weight” rating to an “overweight” rating and set a $20.00 price target on the stock in a research report on Thursday, August 8th. Finally, BNP Paribas upgraded shares of Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 price objective for the company in a research report on Thursday, October 3rd.

Insider Activity at Wolverine World Wide

In related news, insider Amy M. Klimek sold 24,000 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $22.07, for a total value of $529,680.00. Following the completion of the transaction, the insider now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David A. Latchana sold 7,706 shares of the firm’s 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 in the company, valued at $236,390.78. The trade was a 35.68 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,920 shares of company stock valued at $866,240. 2.28% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Wolverine World Wide

A number of hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets lifted its stake in Wolverine World Wide by 52.8% in the 1st quarter. BNP Paribas Financial Markets now owns 65,242 shares of the textile maker’s stock worth $731,000 after purchasing an additional 22,532 shares in the last quarter. Texas Permanent School Fund Corp lifted its position in Wolverine World Wide by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 69,168 shares of the textile maker’s stock worth $775,000 after buying an additional 946 shares in the last quarter. Sei Investments Co. boosted its stake in Wolverine World Wide by 1.8% during the first quarter. Sei Investments Co. now owns 688,530 shares of the textile maker’s stock worth $7,718,000 after buying an additional 12,266 shares during the last quarter. ProShare Advisors LLC grew its holdings in Wolverine World Wide by 7.5% in the 1st quarter. ProShare Advisors LLC now owns 15,708 shares of the textile maker’s stock valued at $176,000 after buying an additional 1,090 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System increased its stake in shares of Wolverine World Wide by 66.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 36,861 shares of the textile maker’s stock worth $413,000 after acquiring an additional 14,670 shares during the last quarter. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Wolverine World Wide Price Performance

NYSE:WWW opened at $21.79 on Tuesday. The firm’s fifty day moving average is $16.80 and its two-hundred day moving average is $14.46. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of -24.48 and a beta of 1.78. Wolverine World Wide has a one year low of $7.58 and a one year high of $22.86. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.77 and a current ratio of 1.23.

Wolverine World Wide Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 2nd will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.84%. Wolverine World Wide’s dividend payout ratio is currently -44.94%.

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.