Wolverine World Wide (NYSE:WWW) Rating Increased to Buy at Stifel Nicolaus

Stifel Nicolaus upgraded shares of Wolverine World Wide (NYSE:WWW) from a hold rating to a buy rating in a research note released on Wednesday, MarketBeat.com reports. The brokerage currently has $29.00 price target on the textile maker’s stock, up from their previous price target of $21.00.

A number of other equities analysts have also recently weighed in on the company. Telsey Advisory Group reissued a “market perform” rating and issued a $15.00 price target on shares of Wolverine World Wide in a research note on Thursday, November 7th. Piper Sandler reissued an “overweight” rating and issued a $18.00 target price on shares of Wolverine World Wide in a research report on Friday, August 23rd. Argus upgraded shares of Wolverine World Wide to a “hold” rating in a research report on Friday, August 16th. Finally, BNP Paribas raised shares of Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 price objective for the company in a research note on Thursday, October 3rd. Three investment 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.com, Wolverine World Wide presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.38.

Wolverine World Wide Price Performance

Shares of NYSE WWW opened at $24.26 on Wednesday. The stock’s fifty day simple moving average is $19.54 and its 200 day simple moving average is $15.79. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.77 and a current ratio of 1.23. Wolverine World Wide has a 52-week low of $7.58 and a 52-week high of $24.64.

Wolverine World Wide Dividend Announcement

The business also recently disclosed 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 of this dividend is Thursday, January 2nd. This represents a $0.40 annualized dividend and a yield of 1.65%. Wolverine World Wide’s dividend payout ratio is presently -44.94%.

Insider Buying and Selling at Wolverine World Wide

In other Wolverine World Wide news, insider Amy M. Klimek sold 24,000 shares of the business’s stock in a transaction that occurred on 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 directly owns 20,238 shares of the company’s stock, valued at $446,652.66. The trade was a 54.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 transaction of $131,156.12. Following the transaction, the insider now owns 13,889 shares in the company, valued at $236,390.78. This represents a 35.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,920 shares of company stock valued at $866,240 in the last quarter. Company insiders own 2.28% of the company’s stock.

Institutional Investors Weigh In On Wolverine World Wide

A number of large investors have recently bought and sold shares of WWW. GAMMA Investing LLC raised its holdings in 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 buying an additional 616 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in shares of Wolverine World Wide by 2.0% in the 2nd quarter. Louisiana State Employees Retirement System now owns 40,200 shares of the textile maker’s stock valued at $544,000 after acquiring an additional 800 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in Wolverine World Wide by 9.3% in the 2nd quarter. Hsbc Holdings PLC now owns 11,425 shares of the textile maker’s stock worth $153,000 after purchasing an additional 973 shares during the last quarter. Intech Investment Management LLC boosted its position in Wolverine World Wide by 5.0% during the third quarter. Intech Investment Management LLC now owns 39,412 shares of the textile maker’s stock worth $687,000 after purchasing an additional 1,866 shares during the period. Finally, Future Financial Wealth Managment LLC acquired a new position in Wolverine World Wide during the third quarter valued at approximately $35,000. 90.25% of the stock is currently 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.