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

Shares of Wolverine World Wide, Inc. (NYSE:WWW) have been given a consensus recommendation of “Moderate Buy” by the ten brokerages that are currently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $19.38.

Several brokerages recently weighed in on WWW. Stifel Nicolaus upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating and boosted their price target for the stock from $21.00 to $29.00 in a research report on Wednesday, December 11th. StockNews.com cut shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a research report on Friday, January 3rd. BNP Paribas raised shares of Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 price objective for the company in a research note on Thursday, October 3rd. Finally, Telsey Advisory Group reiterated 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

Shares of NYSE:WWW opened at $22.76 on Wednesday. The company has a market capitalization of $1.82 billion, a P/E ratio of -25.57 and a beta of 1.88. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.23 and a quick ratio of 0.77. The firm’s 50 day simple moving average is $21.90 and its two-hundred day simple moving average is $17.07. Wolverine World Wide has a 1-year low of $7.87 and a 1-year high of $24.64.

Wolverine World Wide Announces Dividend

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

Insider Activity at Wolverine World Wide

In related news, insider Amy M. Klimek sold 10,214 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $20.11, for a total transaction of $205,403.54. Following the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.28% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of WWW. 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 acquired a new stake in shares of Wolverine World Wide during the 2nd quarter worth about $68,000. Cedar Mountain Advisors LLC purchased a new stake in Wolverine World Wide during the third quarter worth approximately $70,000. GAMMA Investing LLC boosted its holdings in Wolverine World Wide by 15.9% in 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 in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Wolverine World Wide during the third quarter worth approximately $113,000. 90.25% of the stock is currently owned by hedge funds and other institutional investors.

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.