Shares of Wolverine World Wide, Inc. (NYSE:WWW - Get Free Report) hit a new 52-week high during mid-day trading 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.
Several equities analysts have recently issued reports on the stock. UBS Group raised shares of Wolverine World Wide from a "neutral" rating to a "buy" rating and boosted their price target for the company from $13.00 to $20.00 in a report on Friday, July 19th. Argus raised shares of Wolverine World Wide to a "hold" rating in a research note on Friday, August 16th. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $15.00 target price on shares of Wolverine World Wide in a research note on Thursday, November 7th. Piper Sandler reaffirmed an "overweight" rating and issued a $18.00 target price on shares of Wolverine World Wide in a research note on Friday, August 23rd. Finally, 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 note on Thursday, October 3rd. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $18.00.
View Our Latest Report on WWW
The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.77 and a current ratio of 1.23. The stock's fifty day moving average price is $16.15 and its 200-day moving average price is $14.20. The company has a market capitalization of $1.77 billion, a P/E ratio of -24.84 and a beta of 1.78.
The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 2nd will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $0.40 annualized dividend and a dividend yield of 1.81%. Wolverine World Wide's dividend payout ratio is presently -44.94%.
In other Wolverine World Wide news, insider David A. Latchana sold 7,706 shares of the firm's stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $17.02, for a total value of $131,156.12. Following the sale, the insider now owns 13,889 shares in the company, valued at $236,390.78. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, insider David A. Latchana sold 7,706 shares of Wolverine World Wide stock in a transaction on Thursday, September 26th. The shares were 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 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Amy M. Klimek sold 24,000 shares of Wolverine World Wide stock in a transaction 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 completion of the sale, the insider now directly owns 20,238 shares of the company's stock, valued at approximately $446,652.66. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,920 shares of company stock worth $866,240. Corporate insiders own 2.28% of the company's stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Landscape Capital Management L.L.C. bought a new stake in shares of Wolverine World Wide in the third quarter valued at approximately $3,034,000. Intech Investment Management LLC boosted its stake in shares of 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 purchasing an additional 1,866 shares in the last quarter. Jennison Associates LLC purchased a new stake in shares of Wolverine World Wide in the 3rd quarter valued at $10,974,000. Natixis Advisors LLC boosted its position in Wolverine World Wide by 20.5% during the 3rd quarter. Natixis Advisors LLC now owns 27,573 shares of the textile maker's stock valued at $480,000 after buying an additional 4,694 shares during the period. Finally, Oppenheimer Asset Management Inc. raised its holdings in Wolverine World Wide by 5.5% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 145,860 shares of the textile maker's stock worth $2,541,000 after purchasing an additional 7,577 shares in the last quarter. 90.25% of the stock is currently owned by hedge funds and other institutional investors.
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.
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