StockNews.com downgraded shares of Wolverine World Wide (NYSE:WWW – Free Report) from a buy rating to a hold rating in a report published on Tuesday morning.
Several other analysts have also weighed in on the company. Stifel Nicolaus raised Wolverine World Wide from a “hold” rating to a “buy” rating and boosted their price objective for the company from $21.00 to $29.00 in a report on Wednesday, December 11th. Telsey Advisory Group reissued a “market perform” rating and issued a $15.00 price objective on shares of Wolverine World Wide in a report on Thursday, November 7th. Four investment 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 presently has a consensus rating of “Moderate Buy” and an average target price of $20.38.
View Our Latest Stock Report on Wolverine World Wide
Wolverine World Wide Trading Up 2.5 %
Wolverine World Wide Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 1st will be given a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.40 dividend on an annualized basis and a yield of 2.12%. Wolverine World Wide’s dividend payout ratio (DPR) is -44.94%.
Insider Activity
In other Wolverine World Wide news, insider Isabel Soriano sold 7,687 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $23.57, for a total transaction of $181,182.59. Following the sale, the insider now directly owns 34,206 shares of the company’s stock, valued at $806,235.42. The trade was a 18.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.28% of the company’s stock.
Institutional Trading of Wolverine World Wide
Several large investors have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new position in shares of Wolverine World Wide in the fourth quarter worth $25,000. Signaturefd LLC increased its stake in shares of Wolverine World Wide by 88.8% in the fourth quarter. Signaturefd LLC now owns 1,450 shares of the textile maker’s stock worth $32,000 after acquiring an additional 682 shares during the last quarter. Cedar Mountain Advisors LLC acquired a new position in shares of Wolverine World Wide in the third quarter worth $70,000. GAMMA Investing LLC increased its stake in shares of Wolverine World Wide by 15.9% in the third quarter. GAMMA Investing LLC now owns 4,494 shares of the textile maker’s stock worth $78,000 after acquiring an additional 616 shares during the last quarter. Finally, KBC Group NV increased its stake in shares of Wolverine World Wide by 43.8% in the fourth quarter. KBC Group NV now owns 4,303 shares of the textile maker’s stock worth $96,000 after acquiring an additional 1,311 shares during the last quarter. 90.25% of the stock is 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.
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