Wolverine World Wide (NYSE:WWW) Cut to Hold at StockNews.com

Wolverine World Wide (NYSE:WWW) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

A number of other research analysts have also weighed in on WWW. BNP Paribas raised shares of Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 target price on the stock in a research note on Thursday, October 3rd. Stifel Nicolaus raised shares of Wolverine World Wide from a “hold” rating to a “buy” rating and increased their price target for the company from $21.00 to $29.00 in a research note on Wednesday, December 11th. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $15.00 target price on shares of Wolverine World Wide in a research report on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $19.38.

Wolverine World Wide Price Performance

Shares of NYSE WWW opened at $22.41 on Friday. The firm has a 50-day simple moving average of $21.64 and a 200-day simple moving average of $16.89. 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 stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of -25.18 and a beta of 1.88. Wolverine World Wide has a 52 week low of $7.58 and a 52 week high of $24.64.

Insider Activity at Wolverine World Wide

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

Institutional Investors Weigh In On Wolverine World Wide

Large investors have recently bought and sold shares of the stock. Future Financial Wealth Managment LLC purchased a new stake in shares of Wolverine World Wide in the 3rd quarter valued at approximately $35,000. Canada Pension Plan Investment Board purchased a new position in shares of Wolverine World Wide in the 2nd quarter valued at about $68,000. Cedar Mountain Advisors LLC acquired a new stake in shares of Wolverine World Wide during the 3rd quarter worth about $70,000. GAMMA Investing LLC lifted its stake 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 worth $78,000 after purchasing an additional 616 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in Wolverine World Wide in the third quarter valued at approximately $113,000. 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.