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

Wolverine World Wide (NYSE:WWW) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

WWW has been the topic of several other reports. BNP Paribas raised Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 price target on the stock in a research report on Thursday, October 3rd. Stifel Nicolaus raised shares of Wolverine World Wide from a “hold” rating to a “buy” rating and increased their price target for the stock from $21.00 to $29.00 in a research 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 research 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. According to MarketBeat.com, Wolverine World Wide has an average rating of “Moderate Buy” and an average target price of $19.38.

Wolverine World Wide Stock Down 0.9 %

NYSE:WWW traded down $0.20 during trading hours on Friday, hitting $22.41. 903,674 shares of the stock traded hands, compared to its average volume of 918,637. The firm has a 50 day moving average price of $21.64 and a 200 day moving average price of $16.89. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of -25.18 and a beta of 1.88. Wolverine World Wide has a fifty-two week low of $7.58 and a fifty-two week high of $24.64. The company has a current ratio of 1.23, a quick ratio of 0.77 and a debt-to-equity ratio of 1.91.

Insider Activity

In other news, insider Amy M. Klimek sold 24,000 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $22.07, for a total transaction of $529,680.00. Following the completion of the sale, the insider now owns 20,238 shares in the company, valued at approximately $446,652.66. This represents a 54.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.28% of the stock is owned by insiders.

Institutional Investors Weigh In On Wolverine World Wide

A number of large investors have recently added to or reduced their stakes in WWW. GAMMA Investing LLC lifted its position in Wolverine World Wide by 12.5% during the 4th quarter. GAMMA Investing LLC now owns 5,057 shares of the textile maker’s stock worth $112,000 after acquiring an additional 563 shares during the last quarter. Hsbc Holdings PLC boosted its stake in Wolverine World Wide by 9.3% during the 2nd quarter. Hsbc Holdings PLC now owns 11,425 shares of the textile maker’s stock valued at $153,000 after purchasing an additional 973 shares during the period. Intech Investment Management LLC boosted its stake in Wolverine World Wide by 5.0% during the 3rd quarter. Intech Investment Management LLC now owns 39,412 shares of the textile maker’s stock valued at $687,000 after purchasing an additional 1,866 shares during the period. Future Financial Wealth Managment LLC acquired a new stake in Wolverine World Wide in the 3rd quarter valued at approximately $35,000. Finally, The Manufacturers Life Insurance Company increased its position in Wolverine World Wide by 7.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,512 shares of the textile maker’s stock worth $413,000 after buying an additional 2,138 shares during the period. 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.