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

Wolverine World Wide (NYSE:WWWGet Free Report) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Tuesday.

Several other research analysts have also weighed in on WWW. BNP Paribas upgraded shares of 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. Stifel Nicolaus upgraded Wolverine World Wide from a “hold” rating to a “buy” rating and upped their price target for the stock from $21.00 to $29.00 in a report on Wednesday, December 11th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set 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 assigned a buy rating to the company’s stock. According to MarketBeat, Wolverine World Wide currently has an average rating of “Moderate Buy” and an average target price of $19.38.

Check Out Our Latest Stock Analysis on Wolverine World Wide

Wolverine World Wide Stock Up 0.6 %

Shares of NYSE WWW opened at $23.04 on Tuesday. The company’s fifty day moving average is $22.77 and its two-hundred day moving average is $17.43. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.77 and a current ratio of 1.23. Wolverine World Wide has a one year low of $7.88 and a one year high of $24.64.

Insider Activity at Wolverine World Wide

In related news, insider Amy M. Klimek sold 24,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $22.07, for a total transaction of $529,680.00. Following the sale, the insider now owns 20,238 shares in the company, valued at approximately $446,652.66. This trade represents a 54.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.28% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. GAMMA Investing LLC grew its position in shares of Wolverine World Wide by 12.5% in the fourth quarter. GAMMA Investing LLC now owns 5,057 shares of the textile maker’s stock valued at $112,000 after purchasing an additional 563 shares during the period. Hsbc Holdings PLC boosted its stake in Wolverine World Wide by 9.3% in the 2nd quarter. Hsbc Holdings PLC now owns 11,425 shares of the textile maker’s stock worth $153,000 after buying an additional 973 shares during the last quarter. Intech Investment Management LLC grew its holdings in Wolverine World Wide by 5.0% in the 3rd quarter. Intech Investment Management LLC now owns 39,412 shares of the textile maker’s stock valued at $687,000 after buying an additional 1,866 shares during the period. Future Financial Wealth Managment LLC acquired a new position in shares of Wolverine World Wide during the 3rd quarter valued at about $35,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Wolverine World Wide by 7.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,512 shares of the textile maker’s stock worth $413,000 after acquiring an additional 2,138 shares during the period. Hedge funds and other institutional investors own 90.25% of the company’s stock.

About Wolverine World Wide

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Wolverine World Wide (NYSE:WWW)

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