Wolverine World Wide (NYSE:WWW) Upgraded to Buy at Stifel Nicolaus

Stifel Nicolaus upgraded shares of Wolverine World Wide (NYSE:WWW) from a hold rating to a buy rating in a report issued on Wednesday morning, MarketBeat reports. They currently have $29.00 target price on the textile maker’s stock, up from their previous target price of $21.00.

WWW has been the subject of a number of other reports. Piper Sandler reissued an “overweight” rating and set a $18.00 price objective on shares of Wolverine World Wide in a research report on Friday, August 23rd. BNP Paribas raised shares of Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 target price for the company in a research note on Thursday, October 3rd. Telsey Advisory Group reissued a “market perform” rating and issued a $15.00 price target on shares of Wolverine World Wide in a research note on Thursday, November 7th. Finally, Argus upgraded shares of Wolverine World Wide to a “hold” rating in a report on Friday, August 16th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $19.38.

Wolverine World Wide Price Performance

WWW stock opened at $23.51 on Wednesday. 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. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of -26.48 and a beta of 1.89. The business has a fifty day moving average of $19.65 and a two-hundred day moving average of $15.84.

Wolverine World Wide Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 2nd will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $0.40 annualized dividend and a dividend yield of 1.70%. Wolverine World Wide’s dividend payout ratio is presently -44.94%.

Insider Activity at Wolverine World Wide

In related news, insider Amy M. Klimek sold 10,214 shares of Wolverine World Wide stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $20.11, for a total value of $205,403.54. Following the completion of the transaction, the insider now directly owns 19,093 shares in the company, valued at approximately $383,960.23. This trade represents a 34.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider David A. Latchana sold 7,706 shares of the business’s stock in a transaction 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 41,920 shares of company stock worth $866,240. Corporate insiders own 2.28% of the company’s stock.

Institutional Trading of Wolverine World Wide

A number of large investors have recently made changes to their positions in the company. Future Financial Wealth Managment LLC acquired a new position in Wolverine World Wide during the 3rd quarter worth approximately $35,000. Canada Pension Plan Investment Board purchased a new stake in shares of Wolverine World Wide during the 2nd quarter worth $68,000. Cedar Mountain Advisors LLC acquired a new position in shares of Wolverine World Wide during the third quarter worth $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 valued at $78,000 after buying an additional 616 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Wolverine World Wide in the third quarter valued at $113,000. 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.