Wolverine World Wide, Inc. (NYSE:WWW) Receives $19.38 Average Target Price from Brokerages

Wolverine World Wide, Inc. (NYSE:WWW) has been given a consensus rating of “Moderate Buy” by the ten research firms that are presently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $19.38.

Several brokerages have recently commented on WWW. Stifel Nicolaus raised Wolverine World Wide from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $21.00 to $29.00 in a report on Wednesday, December 11th. BNP Paribas raised shares of 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. StockNews.com downgraded shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a report on Friday, January 3rd. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $15.00 target price on shares of Wolverine World Wide in a research note on Thursday, November 7th.

Wolverine World Wide Price Performance

Wolverine World Wide stock opened at $22.76 on Wednesday. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of -25.57 and a beta of 1.88. The company has a quick ratio of 0.77, a current ratio of 1.23 and a debt-to-equity ratio of 1.91. The business has a 50-day simple moving average of $21.90 and a 200 day simple moving average of $17.07. Wolverine World Wide has a 52 week low of $7.87 and a 52 week high of $24.64.

Wolverine World Wide Announces Dividend

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

Insider Activity at Wolverine World Wide

In other Wolverine World Wide news, insider Amy M. Klimek sold 10,214 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $20.11, for a total value of $205,403.54. Following the sale, the insider now owns 19,093 shares of the company’s stock, valued at $383,960.23. This trade represents a 34.85 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.28% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of WWW. Earnest Partners LLC increased its position in shares of Wolverine World Wide by 1.7% during the second quarter. Earnest Partners LLC now owns 5,321,797 shares of the textile maker’s stock valued at $71,951,000 after buying an additional 90,407 shares during the period. Pacer Advisors Inc. purchased a new position in shares of Wolverine World Wide in the 2nd quarter worth about $64,295,000. State Street Corp lifted its stake in shares of Wolverine World Wide by 0.5% in the third quarter. State Street Corp now owns 3,065,736 shares of the textile maker’s stock worth $53,405,000 after buying an additional 16,228 shares in the last quarter. Geode Capital Management LLC boosted its stake in Wolverine World Wide by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,791,789 shares of the textile maker’s stock valued at $31,219,000 after purchasing an additional 17,400 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in Wolverine World Wide by 1,263.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,426,942 shares of the textile maker’s stock worth $24,857,000 after buying an additional 1,322,254 shares during the last quarter. Hedge funds and other institutional investors own 90.25% of the company’s stock.

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.