Stifel Nicolaus set a $34.00 price objective on Wolverine World Wide (NYSE:WWW) in a research note issued to investors on Saturday. The brokerage currently has a buy rating on the textile maker’s stock.
Several other research firms have also issued reports on WWW. KeyCorp reaffirmed a hold rating on shares of Wolverine World Wide in a report on Wednesday, October 11th. Robert W. Baird reiterated a buy rating and issued a $32.00 price objective on shares of Wolverine World Wide in a research note on Sunday, September 17th. Morgan Stanley upped their price objective on Wolverine World Wide from $22.50 to $24.50 and gave the company an equal weight rating in a research note on Monday, September 25th. ValuEngine downgraded Wolverine World Wide from a buy rating to a hold rating in a research note on Thursday, August 24th. Finally, Piper Jaffray Companies reiterated a hold rating and issued a $26.00 price objective on shares of Wolverine World Wide in a research note on Wednesday, November 8th. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $27.25.
Shares of Wolverine World Wide (NYSE:WWW) opened at $31.03 on Friday. Wolverine World Wide has a 12-month low of $20.94 and a 12-month high of $31.32. The company has a market capitalization of $2,912.52, a PE ratio of 19.51, a P/E/G ratio of 1.49 and a beta of 0.96. The company has a debt-to-equity ratio of 0.74, a current ratio of 3.09 and a quick ratio of 2.06.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Tuesday, January 2nd will be paid a dividend of $0.06 per share. The ex-dividend date is Friday, December 29th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.77%. Wolverine World Wide’s dividend payout ratio (DPR) is currently 40.00%.
In other news, Director Joseph R. Gromek sold 18,928 shares of Wolverine World Wide stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $29.14, for a total transaction of $551,561.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael Jeppesen sold 11,807 shares of Wolverine World Wide stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $27.97, for a total transaction of $330,241.79. The disclosure for this sale can be found here. Corporate insiders own 5.65% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Wolverine World Wide by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 8,791,948 shares of the textile maker’s stock valued at $246,262,000 after acquiring an additional 221,866 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Wolverine World Wide by 22.1% during the 3rd quarter. Victory Capital Management Inc. now owns 2,903,558 shares of the textile maker’s stock valued at $83,768,000 after buying an additional 525,150 shares in the last quarter. State Street Corp lifted its stake in Wolverine World Wide by 2.9% in the 2nd quarter. State Street Corp now owns 2,382,061 shares of the textile maker’s stock worth $66,719,000 after purchasing an additional 67,591 shares in the last quarter. FMR LLC lifted its stake in Wolverine World Wide by 21.7% in the 2nd quarter. FMR LLC now owns 2,357,199 shares of the textile maker’s stock worth $66,025,000 after purchasing an additional 420,194 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in Wolverine World Wide by 5.7% in the 2nd quarter. Northern Trust Corp now owns 2,009,729 shares of the textile maker’s stock worth $56,293,000 after purchasing an additional 107,517 shares in the last quarter. 92.47% of the stock is owned by institutional investors.
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About Wolverine World Wide
Wolverine World Wide, Inc is a designer, manufacturer and marketer of a range of casual footwear and apparel, outdoor and athletic footwear and apparel, children’s footwear, industrial work boots and apparel, and uniform shoes and boots. It operates in four segments: Wolverine Outdoor & Lifestyle Group, which offers Merrell footwear and apparel, Cat footwear, Hush Puppies footwear and apparel, and Chaco footwear; Wolverine Boston Group, which offers Sperry footwear and apparel, Saucony footwear and apparel, and Keds footwear and apparel; Wolverine Heritage Group, which offers Wolverine footwear and apparel, Bates uniform footwear, Harley-Davidson footwear and HyTest safety footwear, and Wolverine Multi-Brand Group, which offers Stride Rite footwear and apparel, and its multi-brand consumer-direct businesses.
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