Wolverine World Wide (NYSE:WWW) Downgraded by StockNews.com to Hold

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

WWW has been the subject of several other research reports. Telsey Advisory Group reaffirmed 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. BNP Paribas upgraded Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 price target for the company in a report on Thursday, October 3rd. Finally, Stifel Nicolaus raised shares of Wolverine World Wide from a “hold” rating to a “buy” rating and increased their price objective for the company from $21.00 to $29.00 in a research report on Wednesday, December 11th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $19.38.

Wolverine World Wide Trading Down 0.9 %

Wolverine World Wide stock traded down $0.20 during midday trading on Friday, reaching $22.41. The stock had a trading volume of 903,674 shares, compared to its average volume of 918,637. The stock has a market capitalization of $1.79 billion, a PE ratio of -25.18 and a beta of 1.88. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.77 and a current ratio of 1.23. The stock’s 50-day simple moving average is $21.64 and its 200 day simple moving average is $16.89. Wolverine World Wide has a twelve month low of $7.58 and a twelve month high of $24.64.

Insider Activity

In related news, insider Amy M. Klimek sold 24,000 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $22.07, for a total value of $529,680.00. Following the completion of the sale, the insider now owns 20,238 shares of the company’s stock, valued at $446,652.66. This represents a 54.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 2.28% of the company’s stock.

Hedge Funds Weigh In On Wolverine World Wide

Hedge funds have recently modified their holdings of the company. Earnest Partners LLC raised its holdings in shares of Wolverine World Wide by 1.7% in the 2nd quarter. Earnest Partners LLC now owns 5,321,797 shares of the textile maker’s stock worth $71,951,000 after purchasing an additional 90,407 shares in the last quarter. Pacer Advisors Inc. bought a new position in shares of Wolverine World Wide in the second quarter valued at $64,295,000. State Street Corp lifted its position in shares of Wolverine World Wide by 0.5% during the 3rd quarter. State Street Corp now owns 3,065,736 shares of the textile maker’s stock valued at $53,405,000 after acquiring an additional 16,228 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Wolverine World Wide by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,791,789 shares of the textile maker’s stock worth $31,219,000 after acquiring an additional 17,400 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Wolverine World Wide by 1,263.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,426,942 shares of the textile maker’s stock worth $24,857,000 after acquiring an additional 1,322,254 shares during the last quarter. 90.25% of the stock is currently owned by institutional investors and hedge funds.

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.