Wolverine World Wide (NYSE:WWW) Sets New 1-Year High – Here’s What Happened

Shares of Wolverine World Wide, Inc. (NYSE:WWW) reached a new 52-week high on Wednesday . The stock traded as high as $22.67 and last traded at $22.31, with a volume of 47140 shares trading hands. The stock had previously closed at $22.11.

Analyst Ratings Changes

WWW has been the subject of several research analyst reports. KeyCorp raised Wolverine World Wide from a “sector weight” rating to an “overweight” rating and set a $20.00 price objective for the company in a report on Thursday, August 8th. BNP Paribas upgraded Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 price objective for the company in a research report on Thursday, October 3rd. Telsey Advisory Group restated a “market perform” rating and issued a $15.00 price target on shares of Wolverine World Wide in a research report on Thursday, November 7th. Piper Sandler restated an “overweight” rating and issued a $18.00 price target on shares of Wolverine World Wide in a research report on Friday, August 23rd. Finally, Argus upgraded Wolverine World Wide to a “hold” rating in a research report on Friday, August 16th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $18.00.

Wolverine World Wide Stock Performance

The stock has a fifty day simple moving average of $16.47 and a two-hundred day simple moving average of $14.33. The stock has a market cap of $1.76 billion, a PE ratio of -24.16 and a beta of 1.78. 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 Dividend Announcement

The company 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 dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.82%. The ex-dividend date is Thursday, January 2nd. Wolverine World Wide’s dividend payout ratio is currently -44.94%.

Insider Activity at Wolverine World Wide

In related news, insider David A. Latchana sold 7,706 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $17.02, for a total transaction of $131,156.12. Following the completion of the transaction, the insider now owns 13,889 shares of the company’s stock, valued at $236,390.78. This trade represents a 35.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Amy M. Klimek sold 24,000 shares of the firm’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 transaction, the insider now directly owns 20,238 shares of the company’s stock, valued at $446,652.66. This represents a 54.25 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 41,920 shares of company stock valued at $866,240. Corporate insiders own 2.28% of the company’s stock.

Institutional Investors Weigh In On Wolverine World Wide

Hedge funds have recently bought and sold shares of the business. Future Financial Wealth Managment LLC purchased a new stake in shares of Wolverine World Wide during the 3rd quarter worth about $35,000. Canada Pension Plan Investment Board acquired a new position in shares of Wolverine World Wide during the second quarter valued at about $68,000. Cedar Mountain Advisors LLC bought a new stake in shares of Wolverine World Wide in the 3rd quarter worth approximately $70,000. GAMMA Investing LLC lifted its position in shares of Wolverine World Wide by 15.9% in the 3rd 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 period. Finally, Natixis bought a new stake in shares of Wolverine World Wide in the 1st quarter worth approximately $112,000. 90.25% of the stock is owned by hedge funds and other institutional investors.

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.