Wolverine World Wide (NYSE:WWW) Receives “Market Perform” Rating from Telsey Advisory Group

Telsey Advisory Group reaffirmed their market perform rating on shares of Wolverine World Wide (NYSE:WWW) in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a $23.00 target price on the textile maker’s stock.

A number of other brokerages have also weighed in on WWW. Stifel Nicolaus raised shares of Wolverine World Wide from a “hold” rating to a “buy” rating and upped their price target for the stock from $21.00 to $29.00 in a research note on Wednesday, December 11th. StockNews.com downgraded shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a research report on Tuesday. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.38.

Wolverine World Wide Stock Performance

NYSE WWW opened at $18.39 on Wednesday. Wolverine World Wide has a 52 week low of $8.25 and a 52 week high of $24.64. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.77 and a current ratio of 1.23. The company has a 50-day moving average price of $22.67 and a two-hundred day moving average price of $18.68.

Wolverine World Wide Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 1st will be paid a dividend of $0.10 per share. The ex-dividend date is Tuesday, April 1st. This represents a $0.40 annualized dividend and a dividend yield of 2.18%. Wolverine World Wide’s dividend payout ratio (DPR) is -44.94%.

Insider Buying and Selling

In related news, insider Isabel Soriano sold 7,687 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $23.57, for a total transaction of $181,182.59. Following the completion of the sale, the insider now directly owns 34,206 shares of the company’s stock, valued at approximately $806,235.42. This represents a 18.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.28% of the stock is owned by insiders.

Institutional Trading of Wolverine World Wide

Several large investors have recently modified their holdings of the company. State Street Corp boosted its holdings in shares of Wolverine World Wide by 0.5% during the 3rd quarter. State Street Corp now owns 3,065,736 shares of the textile maker’s stock worth $53,405,000 after buying an additional 16,228 shares during the period. Pacer Advisors Inc. bought a new stake in Wolverine World Wide in the 4th quarter valued at $64,943,000. JPMorgan Chase & Co. boosted its holdings in Wolverine World Wide by 70.0% in the 4th quarter. JPMorgan Chase & Co. now owns 2,425,858 shares of the textile maker’s stock valued at $53,854,000 after purchasing an additional 998,916 shares during the period. Geode Capital Management LLC boosted its holdings in Wolverine World Wide by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,791,789 shares of the textile maker’s stock valued at $31,219,000 after purchasing an additional 17,400 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Wolverine World Wide by 5.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,670,760 shares of the textile maker’s stock valued at $37,091,000 after purchasing an additional 86,475 shares during the period. 90.25% of the stock is owned by institutional investors.

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.