Wolverine World Wide’s (WWW) “Market Perform” Rating Reaffirmed at Telsey Advisory Group

Telsey Advisory Group reiterated their market perform rating on shares of Wolverine World Wide (NYSE:WWW) in a research report released on Thursday morning, MarketBeat reports. The firm currently has a $15.00 price objective on the textile maker’s stock.

Several other analysts have also commented on the stock. Argus raised shares of Wolverine World Wide to a “hold” rating in a research note on Friday, August 16th. KeyCorp upgraded Wolverine World Wide from a “sector weight” rating to an “overweight” rating and set a $20.00 price objective for the company in a research report on Thursday, August 8th. BNP Paribas upgraded Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 target price on the stock in a report on Thursday, October 3rd. UBS Group raised Wolverine World Wide from a “neutral” rating to a “buy” rating and upped their target price for the company from $13.00 to $20.00 in a report on Friday, July 19th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $18.00 price target on shares of Wolverine World Wide in a research report on Friday, August 23rd. Three research analysts have rated the stock with a hold rating and six have assigned 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 price target of $18.00.

Wolverine World Wide Price Performance

Shares of Wolverine World Wide stock opened at $21.97 on Thursday. Wolverine World Wide has a 52 week low of $7.58 and a 52 week high of $22.00. The company has a current ratio of 1.23, a quick ratio of 0.74 and a debt-to-equity ratio of 1.91. The stock has a market cap of $1.76 billion, a PE ratio of -24.69 and a beta of 1.78. The company’s 50-day moving average price is $15.98 and its two-hundred day moving average price is $14.09.

Wolverine World Wide Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 2nd will be issued a dividend of $0.10 per share. The ex-dividend date is Thursday, January 2nd. This represents a $0.40 annualized dividend and a dividend yield of 1.82%. Wolverine World Wide’s dividend payout ratio is -44.94%.

Insider Buying and Selling at Wolverine World Wide

In other news, insider David A. Latchana sold 7,706 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $17.02, for a total transaction of $131,156.12. Following the completion of the sale, the insider now directly owns 13,889 shares of the company’s stock, valued at $236,390.78. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.28% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Future Financial Wealth Managment LLC bought a new position in Wolverine World Wide during the third quarter valued at about $35,000. Cedar Mountain Advisors LLC bought a new stake in Wolverine World Wide during the third quarter worth approximately $70,000. GAMMA Investing LLC grew 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 purchasing an additional 616 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Wolverine World Wide in the second quarter valued at approximately $68,000. Finally, Central Pacific Bank Trust Division bought a new stake in shares of Wolverine World Wide during the 1st quarter worth $81,000. Institutional investors and hedge funds own 90.25% of the company’s stock.

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.