Wolverine World Wide (NYSE:WWW) Sets New 52-Week High – Here’s Why

Shares of Wolverine World Wide, Inc. (NYSE:WWW) reached a new 52-week high on Wednesday . The company traded as high as $24.30 and last traded at $23.61, with a volume of 185078 shares trading hands. The stock had previously closed at $22.72.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on WWW shares. 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. Argus upgraded Wolverine World Wide to a “hold” rating in a research note on Friday, August 16th. Piper Sandler reissued an “overweight” rating and issued a $18.00 price objective on shares of Wolverine World Wide in a report on Friday, August 23rd. Stifel Nicolaus upgraded Wolverine World Wide from a “hold” rating to a “buy” rating and lifted their target price for the company from $21.00 to $29.00 in a research report on Wednesday. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $15.00 price target on shares of Wolverine World Wide in a report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.38.

Wolverine World Wide Stock Performance

The stock has a 50 day simple moving average of $19.65 and a 200-day simple moving average of $15.84. The company has a quick ratio of 0.77, a current ratio of 1.23 and a debt-to-equity ratio of 1.91.

Wolverine World Wide Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 2nd will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend is Thursday, January 2nd. Wolverine World Wide’s dividend payout ratio is presently -44.94%.

Insider Activity at Wolverine World Wide

In other Wolverine World Wide news, insider David A. Latchana sold 7,706 shares of the business’s stock in a transaction that occurred 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 directly owns 13,889 shares of the company’s stock, valued at $236,390.78. The trade was a 35.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Amy M. Klimek sold 24,000 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $22.07, for a total value of $529,680.00. Following the sale, the insider now owns 20,238 shares in the company, valued at $446,652.66. The trade was a 54.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,920 shares of company stock valued at $866,240 over the last 90 days. 2.28% of the stock is owned by corporate insiders.

Institutional Trading of Wolverine World Wide

Large investors have recently modified their holdings of the company. Pacer Advisors Inc. bought a new stake in Wolverine World Wide during the 2nd quarter valued at $64,295,000. Jennison Associates LLC bought a new stake in shares of Wolverine World Wide in the third quarter valued at about $10,974,000. Federated Hermes Inc. raised its holdings 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 acquiring an additional 535,355 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in Wolverine World Wide by 51.0% in the third quarter. Jacobs Levy Equity Management Inc. now owns 994,483 shares of the textile maker’s stock worth $17,324,000 after acquiring an additional 335,669 shares during the period. Finally, Panagora Asset Management Inc. bought a new position in Wolverine World Wide during the 2nd quarter worth about $3,979,000. Hedge funds and other institutional investors own 90.25% of the company’s stock.

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.