Wolverine World Wide, Inc. (NYSE:WWW) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Wolverine World Wide, Inc. (NYSE:WWW) has earned a consensus rating of “Moderate Buy” from the ten analysts that are presently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $19.38.

A number of equities analysts have recently issued reports on WWW shares. Stifel Nicolaus upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating and increased their price objective for the company from $21.00 to $29.00 in a research note on Wednesday. Telsey Advisory Group reaffirmed a “market perform” rating and set a $15.00 target price on shares of Wolverine World Wide in a research report on Thursday, November 7th. Piper Sandler reissued an “overweight” rating and issued a $18.00 price target on shares of Wolverine World Wide in a research report on Friday, August 23rd. Argus raised Wolverine World Wide to a “hold” rating in a research report on Friday, August 16th. Finally, BNP Paribas upgraded 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.

Insider Activity

In other Wolverine World Wide news, insider David A. Latchana sold 7,706 shares of Wolverine World Wide stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $17.02, for a total transaction of $131,156.12. Following the completion of the sale, the insider now owns 13,889 shares of the company’s stock, valued at approximately $236,390.78. The trade was a 35.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 value 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,920 shares of company stock worth $866,240 over the last 90 days. 2.28% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Wolverine World Wide

A number of large investors have recently bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new position in Wolverine World Wide during the 3rd quarter worth approximately $113,000. Geode Capital Management LLC increased 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 acquiring an additional 17,400 shares during the period. Barclays PLC raised its holdings in shares of Wolverine World Wide by 767.1% during 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. XTX Topco Ltd lifted its position in Wolverine World Wide by 338.6% during the third quarter. XTX Topco Ltd now owns 47,346 shares of the textile maker’s stock valued at $825,000 after purchasing an additional 36,551 shares during the period. Finally, State Street Corp lifted its position in Wolverine World Wide by 0.5% during the third quarter. State Street Corp now owns 3,065,736 shares of the textile maker’s stock valued at $53,405,000 after purchasing an additional 16,228 shares during the period. Hedge funds and other institutional investors own 90.25% of the company’s stock.

Wolverine World Wide Price Performance

Shares of Wolverine World Wide stock opened at $23.51 on Friday. The company has a current ratio of 1.23, a quick ratio of 0.77 and a debt-to-equity ratio of 1.91. The firm’s 50-day moving average is $19.65 and its two-hundred day moving average is $15.84. Wolverine World Wide has a 1 year low of $7.58 and a 1 year high of $24.64.

Wolverine World Wide Announces Dividend

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 paid a dividend of $0.10 per share. 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 1.70%. Wolverine World Wide’s payout ratio is -44.94%.

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.