Wolverine World Wide, Inc. (NYSE:WWW) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Wolverine World Wide, Inc. (NYSE:WWW) have been assigned a consensus recommendation of “Moderate Buy” from the nine research firms that are covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $18.00.

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

Insider Activity at Wolverine World Wide

In other news, 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 value of $131,156.12. Following the sale, the insider now owns 13,889 shares in the company, valued at approximately $236,390.78. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.28% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Wolverine World Wide

Large investors have recently added to or reduced their stakes in the company. Manning & Napier Advisors LLC acquired a new stake in Wolverine World Wide during the second quarter valued at approximately $7,098,000. Federated Hermes Inc. boosted its stake in Wolverine World Wide by 10,607.4% in the 2nd quarter. Federated Hermes Inc. now owns 540,402 shares of the textile maker’s stock valued at $7,306,000 after buying an additional 535,355 shares in the last quarter. SG Americas Securities LLC bought a new stake in Wolverine World Wide in the second quarter valued at $548,000. Panagora Asset Management Inc. bought a new position in shares of Wolverine World Wide during the second quarter valued at $3,979,000. Finally, BNP Paribas Financial Markets boosted its stake in shares of Wolverine World Wide by 52.8% in the 1st quarter. BNP Paribas Financial Markets now owns 65,242 shares of the textile maker’s stock valued at $731,000 after purchasing an additional 22,532 shares in the last quarter. Institutional investors and hedge funds own 90.25% of the company’s stock.

Wolverine World Wide Trading Up 1.5 %

Wolverine World Wide stock opened at $22.31 on Tuesday. Wolverine World Wide has a 12 month low of $7.58 and a 12 month high of $22.60. The company has a quick ratio of 0.74, a current ratio of 1.23 and a debt-to-equity ratio of 1.91. The stock has a market cap of $1.79 billion, a P/E ratio of -25.07 and a beta of 1.78. The company’s fifty day simple moving average is $15.98 and its 200-day simple moving average is $14.12.

Wolverine World Wide Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 2nd will be paid a $0.10 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.79%. Wolverine World Wide’s payout ratio is presently -44.94%.

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.