Range Financial Group LLC Acquires Shares of 48,292 Wolverine World Wide, Inc. (NYSE:WWW)

Range Financial Group LLC purchased a new position in shares of Wolverine World Wide, Inc. (NYSE:WWW) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 48,292 shares of the textile maker’s stock, valued at approximately $1,072,000.

Several other hedge funds also recently added to or reduced their stakes in the company. Future Financial Wealth Managment LLC purchased a new position in shares of Wolverine World Wide during the third quarter valued at approximately $35,000. Canada Pension Plan Investment Board purchased a new stake in Wolverine World Wide in the second quarter worth $68,000. Cedar Mountain Advisors LLC bought a new stake in shares of Wolverine World Wide during the third quarter worth $70,000. GAMMA Investing LLC boosted its stake 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 purchasing an additional 616 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Wolverine World Wide during the third quarter valued at $113,000. 90.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. BNP Paribas upgraded 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 report on Thursday, October 3rd. StockNews.com downgraded shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a research note on Friday. Telsey Advisory Group reissued a “market perform” rating and issued a $15.00 price objective on shares of Wolverine World Wide in a research note on Thursday, November 7th. Finally, Stifel Nicolaus raised Wolverine World Wide from a “hold” rating to a “buy” rating and lifted their target price for the company from $21.00 to $29.00 in a research report on Wednesday, December 11th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Wolverine World Wide presently has an average rating of “Moderate Buy” and an average price target of $19.38.

Wolverine World Wide Stock Up 1.8 %

Shares of WWW traded up $0.41 during trading hours on Tuesday, hitting $22.76. The company had a trading volume of 1,249,150 shares, compared to its average volume of 1,147,363. Wolverine World Wide, Inc. has a one year low of $7.87 and a one year high of $24.64. The company’s fifty day moving average price is $21.76 and its two-hundred day moving average price is $17.00. The company has a market capitalization of $1.82 billion, a PE ratio of -25.57 and a beta of 1.88. The company has a current ratio of 1.23, a quick ratio of 0.77 and a debt-to-equity ratio of 1.91.

Wolverine World Wide Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 2nd will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date is Thursday, January 2nd. Wolverine World Wide’s payout ratio is currently -44.94%.

Insider Activity at Wolverine World Wide

In related news, insider Amy M. Klimek sold 24,000 shares of Wolverine World Wide 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 in the company, valued at $446,652.66. This trade represents a 54.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.28% of the stock is currently owned by corporate insiders.

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.