StockNews.com Downgrades Wolverine World Wide (NYSE:WWW) to Hold

StockNews.com downgraded shares of Wolverine World Wide (NYSE:WWW) from a buy rating to a hold rating in a research report report published on Friday morning.

Other equities research analysts have also issued research reports about the stock. Stifel Nicolaus raised shares of Wolverine World Wide from a “hold” rating to a “buy” rating and lifted their target price for the company from $21.00 to $29.00 in a research note on Wednesday, December 11th. 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 report on Thursday, October 3rd. Finally, Telsey Advisory Group reissued 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. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $19.38.

Wolverine World Wide Stock Performance

Shares of WWW stock opened at $22.41 on Friday. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of -25.18 and a beta of 1.88. The stock has a fifty day moving average of $21.64 and a 200 day moving average of $16.89. Wolverine World Wide has a 52 week low of $7.58 and a 52 week high of $24.64. 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 Dividend Announcement

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

Insider Buying and Selling at Wolverine World Wide

In related 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 transaction of $529,680.00. Following the sale, 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.28% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. GAMMA Investing LLC grew its holdings in shares of Wolverine World Wide by 12.5% during the fourth 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 last quarter. JPMorgan Chase & Co. boosted its stake in Wolverine World Wide by 1,263.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,426,942 shares of the textile maker’s stock valued at $24,857,000 after purchasing an additional 1,322,254 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Wolverine World Wide in the 3rd quarter worth $113,000. Geode Capital Management LLC raised its stake in shares of Wolverine World Wide by 1.0% in the third quarter. Geode Capital Management LLC now owns 1,791,789 shares of the textile maker’s stock worth $31,219,000 after purchasing an additional 17,400 shares during the last quarter. Finally, Barclays PLC raised its stake in shares of Wolverine World Wide by 767.1% in the third quarter. Barclays PLC now owns 250,830 shares of the textile maker’s stock worth $4,368,000 after purchasing an additional 221,904 shares during the last quarter. 90.25% of the stock is 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.