Wolverine World Wide (NYSE:WWW) Raised to “Buy” at StockNews.com

Wolverine World Wide (NYSE:WWW) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Wednesday.

WWW has been the topic of several other research reports. Piper Sandler restated an “overweight” rating and set a $18.00 target price on shares of Wolverine World Wide in a research report on Friday, August 23rd. BNP Paribas upgraded Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 price target on the stock in a report on Thursday, October 3rd. Telsey Advisory Group reaffirmed a “market perform” rating and set a $15.00 price objective on shares of Wolverine World Wide in a research report on Thursday, November 7th. Finally, Stifel Nicolaus upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating and boosted their target price for the company from $21.00 to $29.00 in a research report on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $19.38.

Wolverine World Wide Trading Down 4.8 %

NYSE WWW traded down $1.11 during mid-day trading on Wednesday, reaching $22.05. 1,094,775 shares of the stock were exchanged, compared to its average volume of 1,106,987. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.23 and a quick ratio of 0.77. The stock has a market cap of $1.77 billion, a P/E ratio of -24.78 and a beta of 1.89. The stock has a 50 day simple moving average of $20.13 and a 200-day simple moving average of $16.12. Wolverine World Wide has a one year low of $7.58 and a one year high of $24.64.

Insider Activity

In related news, insider Amy M. Klimek sold 10,214 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $20.11, for a total value of $205,403.54. Following the completion of the sale, the insider now directly owns 19,093 shares of the company’s stock, valued at approximately $383,960.23. This represents a 34.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider David A. Latchana sold 7,706 shares of the firm’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $17.02, for a total value of $131,156.12. Following the transaction, the insider now owns 13,889 shares in the company, valued at approximately $236,390.78. This trade represents a 35.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,920 shares of company stock worth $866,240 over the last three months. 2.28% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Future Financial Wealth Managment LLC bought a new position in shares of Wolverine World Wide during the 3rd quarter worth approximately $35,000. Cedar Mountain Advisors LLC purchased a new stake in shares of Wolverine World Wide during the third quarter valued at approximately $70,000. GAMMA Investing LLC increased its position in shares of Wolverine World Wide by 15.9% during the third quarter. GAMMA Investing LLC now owns 4,494 shares of the textile maker’s stock valued at $78,000 after acquiring an additional 616 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in Wolverine World Wide during the second quarter worth $68,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in Wolverine World Wide in the third quarter worth $113,000. 90.25% of the stock is currently owned by hedge funds and other institutional investors.

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.