Analysts Set Wolverine World Wide, Inc. (NYSE:WWW) Price Target at $18.00

Wolverine World Wide, Inc. (NYSE:WWW) has been assigned a consensus recommendation of “Moderate Buy” from the nine research firms that are covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $18.00.

Several analysts recently weighed in on the company. BNP Paribas raised Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 price objective on the stock in a research note on Thursday, October 3rd. Piper Sandler reaffirmed an “overweight” rating and set a $18.00 price target on shares of Wolverine World Wide in a 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 restated a “market perform” rating and issued a $15.00 target price on shares of Wolverine World Wide in a research report on Thursday, November 7th.

Insider Transactions at Wolverine World Wide

In related news, insider David A. Latchana sold 7,706 shares of Wolverine World Wide stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $17.02, for a total value of $131,156.12. Following the transaction, the insider now directly owns 13,889 shares of the company’s stock, valued at $236,390.78. The trade was a 35.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Amy M. Klimek sold 24,000 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $22.07, for a total transaction of $529,680.00. Following the sale, 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 41,920 shares of company stock worth $866,240. Company insiders own 2.28% of the company’s stock.

Hedge Funds Weigh In On Wolverine World Wide

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Future Financial Wealth Managment LLC acquired a new stake in Wolverine World Wide during the 3rd quarter worth about $35,000. Canada Pension Plan Investment Board bought a new stake in shares of Wolverine World Wide during the 2nd quarter valued at about $68,000. Cedar Mountain Advisors LLC acquired a new stake in Wolverine World Wide during the third quarter worth approximately $70,000. GAMMA Investing LLC increased its holdings in Wolverine World Wide by 15.9% in 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 in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in Wolverine World Wide in the third quarter worth approximately $113,000. Institutional investors and hedge funds own 90.25% of the company’s stock.

Wolverine World Wide Trading Down 1.7 %

Shares of WWW stock opened at $22.59 on Friday. Wolverine World Wide has a fifty-two week low of $7.58 and a fifty-two week high of $24.16. The stock’s fifty day moving average price is $19.28 and its two-hundred day moving average price is $15.66. 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 company has a market cap of $1.81 billion, a PE ratio of -25.38 and a beta of 1.89.

Wolverine World Wide Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 2nd will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.77%. The ex-dividend date is Thursday, January 2nd. Wolverine World Wide’s dividend payout ratio (DPR) 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.