Brokerages Set Wolverine World Wide, Inc. (NYSE:WWW) Target Price at $19.38

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

Several equities research analysts recently commented on WWW shares. StockNews.com raised Wolverine World Wide from a “hold” rating to a “buy” rating in a report on Wednesday, January 22nd. BNP Paribas raised Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 target price for the company in a research note on Thursday, October 3rd. Telsey Advisory Group reissued a “market perform” rating and set a $15.00 price target on shares of Wolverine World Wide in a research report on Thursday, November 7th. Finally, Stifel Nicolaus upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating and raised their price objective for the stock from $21.00 to $29.00 in a research report on Wednesday, December 11th.

Wolverine World Wide Stock Up 0.7 %

WWW stock opened at $23.38 on Friday. The company has a current ratio of 1.23, a quick ratio of 0.77 and a debt-to-equity ratio of 1.91. The firm has a 50-day moving average of $22.91 and a two-hundred day moving average of $18.03. Wolverine World Wide has a 12 month low of $8.05 and a 12 month high of $24.64. The company has a market cap of $1.87 billion, a price-to-earnings ratio of -26.26 and a beta of 1.88.

Insider Buying and Selling at Wolverine World Wide

In other news, insider Isabel Soriano sold 7,687 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $23.57, for a total transaction of $181,182.59. Following the sale, the insider now owns 34,206 shares of the company’s stock, valued at approximately $806,235.42. This represents a 18.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $529,680.00. Following the completion of the transaction, the insider now owns 20,238 shares of the company’s stock, valued at $446,652.66. This trade represents a 54.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,901 shares of company stock worth $916,266 over the last three months. Insiders own 2.28% of the company’s stock.

Hedge Funds Weigh In On Wolverine World Wide

Several institutional investors have recently modified their holdings of the business. State Street Corp boosted its holdings in 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 valued at $53,405,000 after purchasing an additional 16,228 shares during the period. Pacer Advisors Inc. purchased a new position in shares of Wolverine World Wide in the 4th quarter valued at about $64,943,000. Geode Capital Management LLC boosted its stake in shares of Wolverine World Wide by 1.0% in 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 buying an additional 17,400 shares during the period. JPMorgan Chase & Co. grew its position in shares of Wolverine World Wide by 1,263.0% during the third 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 in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings in Wolverine World Wide by 51.0% in the third quarter. Jacobs Levy Equity Management Inc. now owns 994,483 shares of the textile maker’s stock valued at $17,324,000 after acquiring an additional 335,669 shares in the last quarter. 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.