Wolverine World Wide (NYSE:WWW) Hits New 12-Month High – Still a Buy?

Wolverine World Wide, Inc. (NYSE:WWW)’s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as $22.92 and last traded at $22.81, with a volume of 187479 shares changing hands. The stock had previously closed at $22.16.

Wall Street Analyst Weigh In

WWW has been the topic of several analyst reports. Piper Sandler restated an “overweight” rating and set a $18.00 price target on shares of Wolverine World Wide in a research report on Friday, August 23rd. Telsey Advisory Group reiterated a “market perform” rating and set a $15.00 price target on shares of Wolverine World Wide in a research report on Thursday, November 7th. Robert W. Baird raised their price objective on Wolverine World Wide from $13.00 to $15.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. BNP Paribas raised shares of Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 target price on the stock in a research note on Thursday, October 3rd. Finally, Argus upgraded shares of Wolverine World Wide to a “hold” rating in a research report on Friday, August 16th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $18.00.

Wolverine World Wide Trading Up 3.2 %

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 business has a 50 day moving average of $17.30 and a 200 day moving average of $14.73. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of -25.63 and a beta of 1.78.

Wolverine World Wide Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 2nd will be issued a dividend of $0.10 per share. The ex-dividend date is Thursday, January 2nd. This represents a $0.40 annualized dividend and a dividend yield of 1.75%. Wolverine World Wide’s payout ratio is currently -44.94%.

Insider Activity

In related news, insider David A. Latchana sold 7,706 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $17.02, for a total value of $131,156.12. Following the completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Amy M. Klimek sold 24,000 shares of Wolverine World Wide stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $22.07, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold 41,920 shares of company stock worth $866,240 over the last 90 days. Company insiders own 2.28% of the company’s stock.

Institutional Trading of Wolverine World Wide

Large investors have recently modified their holdings of the company. Future Financial Wealth Managment LLC bought a new stake in shares of Wolverine World Wide during the third quarter valued at about $35,000. Canada Pension Plan Investment Board acquired a new position in Wolverine World Wide during the second quarter worth about $68,000. Cedar Mountain Advisors LLC acquired a new position in shares of Wolverine World Wide in the 3rd quarter worth approximately $70,000. GAMMA Investing LLC boosted its holdings in Wolverine World Wide by 15.9% during the third quarter. GAMMA Investing LLC now owns 4,494 shares of the textile maker’s stock worth $78,000 after buying an additional 616 shares in the last quarter. Finally, Natixis acquired a new position in Wolverine World Wide in the first quarter worth approximately $112,000. Institutional investors and hedge funds own 90.25% of the company’s stock.

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.