Wolverine World Wide, Inc. (NYSE:WWW) Receives Average Recommendation of “Moderate Buy” from Brokerages

Wolverine World Wide, Inc. (NYSE:WWW) has been assigned a consensus rating of “Moderate Buy” from the nine analysts that are currently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $18.00.

A number of equities research analysts have weighed in on WWW shares. 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. Robert W. Baird upped their price objective on shares of Wolverine World Wide from $13.00 to $15.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Piper Sandler reiterated an “overweight” rating and set a $18.00 target price on shares of Wolverine World Wide in a report on Friday, August 23rd. Argus upgraded shares of Wolverine World Wide to a “hold” rating in a report on Friday, August 16th. Finally, KeyCorp upgraded shares of Wolverine World Wide from a “sector weight” rating to an “overweight” rating and set a $20.00 price objective on the stock in a research note on Thursday, August 8th.

Wolverine World Wide Stock Performance

Shares of NYSE:WWW opened at $21.79 on Tuesday. 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 firm has a market cap of $1.74 billion, a PE ratio of -24.48 and a beta of 1.78. The firm’s 50 day simple moving average is $16.80 and its 200-day simple moving average is $14.46. Wolverine World Wide has a one year low of $7.58 and a one year high of $22.86.

Wolverine World Wide Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 2nd will be paid a $0.10 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $0.40 annualized dividend and a yield of 1.84%. Wolverine World Wide’s dividend payout ratio (DPR) is -44.94%.

Insider Transactions at Wolverine World Wide

In related news, insider David A. Latchana sold 7,706 shares of the business’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $17.02, for a total transaction of $131,156.12. Following the transaction, the insider now directly owns 13,889 shares in the company, valued at $236,390.78. The trade was a 35.68 % decrease in their position. 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 the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $22.07, for a total value of $529,680.00. Following the completion of the sale, the insider now owns 20,238 shares of the company’s stock, valued at approximately $446,652.66. This trade represents a 54.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,920 shares of company stock valued at $866,240. Corporate insiders own 2.28% of the company’s stock.

Institutional Trading of Wolverine World Wide

Several large investors have recently bought and sold shares of the stock. Manning & Napier Advisors LLC acquired a new stake in shares of Wolverine World Wide during the second quarter worth $7,098,000. Federated Hermes Inc. increased its holdings in shares of Wolverine World Wide by 10,607.4% in the second quarter. Federated Hermes Inc. now owns 540,402 shares of the textile maker’s stock valued at $7,306,000 after purchasing an additional 535,355 shares during the period. SG Americas Securities LLC acquired a new position in shares of Wolverine World Wide in the second quarter valued at about $548,000. US Bancorp DE raised its stake in shares of Wolverine World Wide by 487.8% in the third quarter. US Bancorp DE now owns 36,776 shares of the textile maker’s stock worth $641,000 after purchasing an additional 30,519 shares during the last quarter. Finally, Panagora Asset Management Inc. acquired a new stake in shares of Wolverine World Wide during the second quarter worth about $3,979,000. Hedge funds and other institutional investors 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.