Wolverine World Wide (NYSE:WWW) Stock Price Down 5.3% – Should You Sell?

Wolverine World Wide, Inc. (NYSE:WWW)’s stock price was down 5.3% during mid-day trading on Wednesday . The stock traded as low as $19.33 and last traded at $19.41. Approximately 142,623 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 1,045,343 shares. The stock had previously closed at $20.50.

Analysts Set New Price Targets

WWW has been the topic of several analyst reports. Stifel Nicolaus raised Wolverine World Wide from a “hold” rating to a “buy” rating and boosted their target price for the company from $21.00 to $29.00 in a research report on Wednesday, December 11th. StockNews.com cut shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $23.00 target price on shares of Wolverine World Wide in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Wolverine World Wide currently has a consensus rating of “Moderate Buy” and an average price target of $20.38.

Wolverine World Wide Trading Down 7.9 %

The stock has a market capitalization of $1.51 billion, a P/E ratio of -21.17 and a beta of 1.88. The stock’s fifty day moving average price is $22.67 and its 200 day moving average price is $18.68. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.23 and a quick ratio of 0.77.

Wolverine World Wide Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 1st will be paid a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.40 dividend on an annualized basis and a yield of 2.12%. Wolverine World Wide’s dividend payout ratio is currently -44.94%.

Insider Transactions at Wolverine World Wide

In other Wolverine World Wide news, insider Isabel Soriano sold 7,687 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $23.57, for a total transaction of $181,182.59. Following the transaction, the insider now directly owns 34,206 shares in the company, valued at $806,235.42. This represents a 18.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.28% of the company’s stock.

Hedge Funds Weigh In On Wolverine World Wide

Hedge funds and other institutional investors have recently modified their holdings of the business. SBI Securities Co. Ltd. purchased a new stake in Wolverine World Wide during the fourth quarter worth $25,000. Signaturefd LLC raised its position in shares of Wolverine World Wide by 88.8% in the 4th quarter. Signaturefd LLC now owns 1,450 shares of the textile maker’s stock worth $32,000 after acquiring an additional 682 shares in the last quarter. Cedar Mountain Advisors LLC purchased a new stake in shares of Wolverine World Wide during the 3rd quarter worth $70,000. KBC Group NV boosted its position in Wolverine World Wide by 43.8% during the fourth quarter. KBC Group NV now owns 4,303 shares of the textile maker’s stock valued at $96,000 after purchasing an additional 1,311 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake 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 purchasing an additional 616 shares during the last quarter. 90.25% of the stock is currently owned by 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.