Wolverine World Wide (NYSE:WWW) Stock Rating Lowered by StockNews.com

Wolverine World Wide (NYSE:WWW) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Tuesday.

Several other brokerages have also issued reports on WWW. Stifel Nicolaus raised shares of Wolverine World Wide from a “hold” rating to a “buy” rating and lifted their price objective for the company from $21.00 to $29.00 in a report on Wednesday, December 11th. Telsey Advisory Group reissued a “market perform” rating and set a $15.00 price objective on shares of Wolverine World Wide in a report on Thursday, November 7th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $19.38.

Wolverine World Wide Stock Down 1.4 %

WWW stock traded down $0.30 during trading on Tuesday, hitting $20.50. 942,275 shares of the company’s stock traded hands, compared to its average volume of 1,081,551. The firm has a market capitalization of $1.64 billion, a P/E ratio of -23.03 and a beta of 1.88. The business has a fifty day simple moving average of $22.73 and a two-hundred day simple moving average of $18.63. The company has a quick ratio of 0.77, a current ratio of 1.23 and a debt-to-equity ratio of 1.91. Wolverine World Wide has a 1 year low of $8.25 and a 1 year high of $24.64.

Insider Activity

In other news, insider Isabel Soriano sold 7,687 shares of the business’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 sale, the insider now directly owns 34,206 shares of the company’s stock, valued at $806,235.42. The trade was a 18.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.28% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Prudential Financial Inc. lifted its position in Wolverine World Wide by 16.5% during the fourth quarter. Prudential Financial Inc. now owns 521,935 shares of the textile maker’s stock valued at $11,587,000 after purchasing an additional 74,090 shares during the period. LPL Financial LLC acquired a new position in shares of Wolverine World Wide in the fourth quarter worth about $378,000. KLP Kapitalforvaltning AS acquired a new position in shares of Wolverine World Wide in the fourth quarter worth about $355,000. AXQ Capital LP acquired a new position in shares of Wolverine World Wide in the fourth quarter worth about $310,000. Finally, Hillsdale Investment Management Inc. acquired a new position in shares of Wolverine World Wide in the fourth quarter worth about $4,317,000. 90.25% of the stock is currently owned by institutional investors and hedge funds.

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.