Wolverine World Wide (NYSE:WWW) Reaches New 12-Month High – What’s Next?

Wolverine World Wide, Inc. (NYSE:WWW)’s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $22.92 and last traded at $22.81, with a volume of 187479 shares changing hands. The stock had previously closed at $22.16.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on WWW shares. Argus raised Wolverine World Wide to a “hold” rating in a research report on Friday, August 16th. Robert W. Baird boosted their price target on Wolverine World Wide from $13.00 to $15.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. KeyCorp upgraded Wolverine World Wide from a “sector weight” rating to an “overweight” rating and set a $20.00 price objective on the stock in a report on Thursday, August 8th. 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. Finally, Piper Sandler restated an “overweight” rating and set a $18.00 price target on shares of Wolverine World Wide in a research note on Friday, August 23rd. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $18.00.

Wolverine World Wide Price Performance

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 company’s 50 day moving average price is $17.30 and its 200 day moving average price is $14.73. The firm has a market capitalization of $1.83 billion, a P/E ratio of -25.63 and a beta of 1.78.

Wolverine World Wide Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 2nd will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.75%. The ex-dividend date is Thursday, January 2nd. Wolverine World Wide’s dividend payout ratio is -44.94%.

Insider Transactions at Wolverine World Wide

In other Wolverine World Wide news, insider Amy M. Klimek sold 10,214 shares of Wolverine World Wide stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $20.11, for a total value 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. The trade was a 34.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider David A. Latchana sold 7,706 shares of the company’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $17.02, for a total transaction of $131,156.12. Following the completion of the transaction, the insider now directly owns 13,889 shares of the company’s stock, valued at approximately $236,390.78. The trade was a 35.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,920 shares of company stock worth $866,240 in the last quarter. 2.28% of the stock is owned by company insiders.

Institutional Trading of Wolverine World Wide

A number of hedge funds have recently modified their holdings of the stock. Manning & Napier Advisors LLC bought a new position in Wolverine World Wide during the 2nd quarter worth $7,098,000. Federated Hermes Inc. boosted its stake in shares of Wolverine World Wide by 10,607.4% in the second 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 during the period. SG Americas Securities LLC acquired a new stake in Wolverine World Wide during the second quarter worth approximately $548,000. US Bancorp DE lifted its position in shares of Wolverine World Wide by 487.8% during the 3rd quarter. US Bancorp DE now owns 36,776 shares of the textile maker’s stock valued at $641,000 after acquiring an additional 30,519 shares during the period. Finally, Panagora Asset Management Inc. acquired a new position in shares of Wolverine World Wide in the second quarter valued at approximately $3,979,000. 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.