ValuEngine upgraded shares of Wolverine World Wide (NYSE:WWW) from a hold rating to a buy rating in a research note issued to investors on Wednesday, March 7th.
Other equities analysts have also issued research reports about the stock. Citigroup increased their price target on shares of Wolverine World Wide from $32.00 to $33.00 and gave the stock a neutral rating in a report on Thursday, February 22nd. Buckingham Research increased their price target on shares of Wolverine World Wide from $24.00 to $28.00 and gave the stock a neutral rating in a report on Thursday, November 9th. Pivotal Research set a $33.00 price target on shares of Wolverine World Wide and gave the stock a hold rating in a report on Thursday, February 22nd. Stifel Nicolaus set a $34.00 price target on shares of Wolverine World Wide and gave the stock a buy rating in a report on Saturday, December 16th. Finally, Telsey Advisory Group increased their price target on shares of Wolverine World Wide from $29.00 to $30.00 and gave the stock a market perform rating in a report on Thursday, November 9th. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $28.88.
Wolverine World Wide (WWW) traded up $0.61 during midday trading on Wednesday, reaching $29.41. 1,252,658 shares of the company’s stock traded hands, compared to its average volume of 907,589. The stock has a market cap of $2,765.07, a PE ratio of -980.33, a PEG ratio of 1.14 and a beta of 1.00. Wolverine World Wide has a fifty-two week low of $23.45 and a fifty-two week high of $33.82. The company has a quick ratio of 2.20, a current ratio of 2.97 and a debt-to-equity ratio of 0.78.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 1st. Investors of record on Monday, April 2nd will be issued a dividend of $0.08 per share. The ex-dividend date is Thursday, March 29th. This represents a $0.32 annualized dividend and a dividend yield of 1.09%. This is a positive change from Wolverine World Wide’s previous quarterly dividend of $0.06. Wolverine World Wide’s dividend payout ratio (DPR) is currently -800.00%.
In related news, insider James D. Zwiers sold 100,600 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $29.79, for a total transaction of $2,996,874.00. Following the transaction, the insider now owns 190,893 shares of the company’s stock, valued at approximately $5,686,702.47. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 5.65% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its holdings in Wolverine World Wide by 1.1% in the 4th quarter. BlackRock Inc. now owns 12,032,149 shares of the textile maker’s stock worth $383,584,000 after acquiring an additional 128,266 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Wolverine World Wide by 9.9% in the 4th quarter. Victory Capital Management Inc. now owns 3,190,651 shares of the textile maker’s stock worth $101,718,000 after acquiring an additional 287,093 shares during the last quarter. Macquarie Group Ltd. grew its holdings in Wolverine World Wide by 7.8% in the 3rd quarter. Macquarie Group Ltd. now owns 1,817,903 shares of the textile maker’s stock worth $52,447,000 after acquiring an additional 131,157 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Wolverine World Wide by 12.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,686,193 shares of the textile maker’s stock worth $48,799,000 after acquiring an additional 191,771 shares during the last quarter. Finally, Earnest Partners LLC bought a new stake in Wolverine World Wide in the 4th quarter worth $48,417,000. 95.55% of the stock is currently owned by institutional investors.
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About Wolverine World Wide
Wolverine World Wide, Inc is a designer, manufacturer and marketer of a range of casual footwear and apparel, outdoor and athletic footwear and apparel, children’s footwear, industrial work boots and apparel, and uniform shoes and boots. It operates in four segments: Wolverine Outdoor & Lifestyle Group, which offers Merrell footwear and apparel, Cat footwear, Hush Puppies footwear and apparel, and Chaco footwear; Wolverine Boston Group, which offers Sperry footwear and apparel, Saucony footwear and apparel, and Keds footwear and apparel; Wolverine Heritage Group, which offers Wolverine footwear and apparel, Bates uniform footwear, Harley-Davidson footwear and HyTest safety footwear, and Wolverine Multi-Brand Group, which offers Stride Rite footwear and apparel, and its multi-brand consumer-direct businesses.
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