Wolverine World Wide (NYSE:WWW) Upgraded by StockNews.com to Buy Rating

Wolverine World Wide (NYSE:WWW) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday.

WWW has been the subject of several other research reports. Telsey Advisory Group reaffirmed a “market perform” rating and set a $15.00 target price on shares of Wolverine World Wide in a report on Thursday, November 7th. Stifel Nicolaus upgraded Wolverine World Wide from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $21.00 to $29.00 in a report on Wednesday, December 11th. BNP Paribas raised Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 target price on the stock in a research report on Thursday, October 3rd. Finally, Piper Sandler reissued an “overweight” rating and set a $18.00 price target on shares of Wolverine World Wide in a report on Friday, August 23rd. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Wolverine World Wide has an average rating of “Moderate Buy” and a consensus target price of $19.38.

Wolverine World Wide Stock Performance

WWW stock traded down $1.11 during midday trading on Wednesday, reaching $22.05. 1,094,775 shares of the company were exchanged, compared to its average volume of 1,106,987. Wolverine World Wide has a one year low of $7.58 and a one year high of $24.64. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of -24.78 and a beta of 1.89. The business has a 50-day moving average price of $20.13 and a two-hundred day moving average price of $16.12. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.23 and a quick ratio of 0.77.

Insider Buying and Selling

In related news, insider David A. Latchana sold 7,706 shares of the business’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 sale, the insider now owns 13,889 shares in the company, valued at $236,390.78. The trade was a 35.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Amy M. Klimek sold 10,214 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $20.11, for a total value of $205,403.54. Following the completion of the transaction, the insider now owns 19,093 shares of the company’s stock, valued at $383,960.23. This represents a 34.85 % 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 ninety days. 2.28% of the stock is owned by insiders.

Institutional Investors Weigh In On Wolverine World Wide

A number of institutional investors have recently added to or reduced their stakes in the business. Earnest Partners LLC raised its stake in shares of Wolverine World Wide by 1.7% during the second quarter. Earnest Partners LLC now owns 5,321,797 shares of the textile maker’s stock valued at $71,951,000 after acquiring an additional 90,407 shares during the last quarter. Pacer Advisors Inc. acquired a new stake in Wolverine World Wide in the second quarter valued at $64,295,000. State Street Corp raised its position in 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 worth $53,405,000 after purchasing an additional 16,228 shares during the last quarter. Geode Capital Management LLC grew its position 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 last quarter. Finally, Jacobs Levy Equity Management Inc. grew its position in shares of Wolverine World Wide by 51.0% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 994,483 shares of the textile maker’s stock valued at $17,324,000 after buying an additional 335,669 shares during the last quarter. 90.25% of the stock is owned by 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.