Wolverine World Wide (NYSE:WWW) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Wolverine World Wide (NYSE:WWW) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning.

Several other brokerages also recently issued reports on WWW. BNP Paribas upgraded Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 price target for the company in a report on Thursday, October 3rd. Telsey Advisory Group reissued a “market perform” rating and set a $15.00 target price on shares of Wolverine World Wide in a research note on Thursday, November 7th. Finally, Stifel Nicolaus upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating and raised their target price for the stock from $21.00 to $29.00 in a report on Wednesday, December 11th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.38.

Wolverine World Wide Price Performance

Shares of WWW stock opened at $22.54 on Wednesday. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of -25.33 and a beta of 1.88. Wolverine World Wide has a 12-month low of $8.05 and a 12-month 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 firm has a fifty day moving average of $22.83 and a 200-day moving average of $17.74.

Wolverine World Wide Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 2nd will be issued a $0.10 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.77%. Wolverine World Wide’s dividend payout ratio (DPR) is presently -44.94%.

Insider Buying and Selling

In other news, insider Amy M. Klimek sold 10,214 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $20.11, for a total transaction of $205,403.54. Following the completion of the transaction, the insider now directly owns 19,093 shares in the company, valued at $383,960.23. This represents a 34.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Isabel Soriano sold 7,687 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $23.57, for a total value of $181,182.59. Following the completion of the transaction, the insider now owns 34,206 shares of the company’s stock, valued at $806,235.42. The trade was a 18.35 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,901 shares of company stock worth $916,266. 2.28% of the stock is owned by insiders.

Institutional Investors Weigh In On Wolverine World Wide

Institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC grew its stake in shares of Wolverine World Wide by 12.5% in 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 in the last quarter. Hsbc Holdings PLC grew its position in shares of Wolverine World Wide by 9.3% in the 2nd quarter. Hsbc Holdings PLC now owns 11,425 shares of the textile maker’s stock valued at $153,000 after acquiring an additional 973 shares during the period. KBC Group NV increased its stake in shares of Wolverine World Wide by 43.8% during the 4th quarter. KBC Group NV now owns 4,303 shares of the textile maker’s stock worth $96,000 after purchasing an additional 1,311 shares during the last quarter. Intech Investment Management LLC increased its stake in shares of Wolverine World Wide by 5.0% during the 3rd quarter. Intech Investment Management LLC now owns 39,412 shares of the textile maker’s stock worth $687,000 after purchasing an additional 1,866 shares during the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new stake in Wolverine World Wide in the 3rd quarter valued at about $35,000. Institutional investors own 90.25% of the company’s stock.

Wolverine World Wide Company Profile

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.