Brokerages Set Wolverine World Wide, Inc. (NYSE:WWW) Target Price at $19.38

Wolverine World Wide, Inc. (NYSE:WWW) has been given an average rating of “Moderate Buy” by the ten brokerages that are currently covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $19.38.

A number of analysts have issued reports on WWW shares. Stifel Nicolaus raised Wolverine World Wide from a “hold” rating to a “buy” rating and raised their target price for the stock from $21.00 to $29.00 in a research note on Wednesday, December 11th. BNP Paribas upgraded shares of 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 reiterated a “market perform” rating and issued a $15.00 target price on shares of Wolverine World Wide in a report on Thursday, November 7th. Finally, StockNews.com upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating in a report on Wednesday, January 22nd.

Wolverine World Wide Price Performance

WWW stock opened at $24.03 on Friday. Wolverine World Wide has a 1 year low of $8.05 and a 1 year high of $24.64. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.23 and a quick ratio of 0.77. The firm has a market capitalization of $1.92 billion, a PE ratio of -27.00 and a beta of 1.88. The business has a 50 day simple moving average of $22.95 and a 200-day simple moving average of $18.14.

Insider Buying and Selling

In other news, insider Amy M. Klimek sold 24,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $446,652.66. This represents a 54.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Isabel Soriano sold 7,687 shares of Wolverine World Wide stock in a transaction that occurred 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 completion of the transaction, the insider now owns 34,206 shares of the company’s stock, valued at $806,235.42. This trade represents a 18.35 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,901 shares of company stock valued at $916,266. Company insiders own 2.28% of the company’s stock.

Institutional Investors Weigh In On Wolverine World Wide

A number of hedge funds have recently bought and sold shares of the stock. Pacer Advisors Inc. acquired a new stake in Wolverine World Wide in the fourth quarter valued at approximately $64,943,000. JPMorgan Chase & Co. lifted its position in shares of Wolverine World Wide by 1,263.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,426,942 shares of the textile maker’s stock worth $24,857,000 after purchasing an additional 1,322,254 shares during the last quarter. Jennison Associates LLC acquired a new position in shares of Wolverine World Wide during the third quarter worth $10,974,000. Jacobs Levy Equity Management Inc. increased its holdings in Wolverine World Wide by 51.0% in the third quarter. Jacobs Levy Equity Management Inc. now owns 994,483 shares of the textile maker’s stock valued at $17,324,000 after buying an additional 335,669 shares during the last quarter. Finally, Barclays PLC lifted its holdings in Wolverine World Wide by 767.1% during the 3rd quarter. Barclays PLC now owns 250,830 shares of the textile maker’s stock worth $4,368,000 after buying an additional 221,904 shares during the last quarter. Institutional investors and hedge funds 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.