Wolverine World Wide (NYSE:WWW) had its price target boosted by Citigroup from $32.00 to $33.00 in a research note published on Thursday. The brokerage currently has a neutral rating on the textile maker’s stock.
Several other research analysts have also recently commented on the company. Stifel Nicolaus set a $34.00 price target on Wolverine World Wide and gave the company a buy rating in a research report on Saturday, December 16th. Zacks Investment Research cut Wolverine World Wide from a buy rating to a hold rating in a research report on Saturday, January 6th. TheStreet cut Wolverine World Wide from a b rating to a c+ rating in a research report on Wednesday, November 8th. Piper Jaffray Companies reissued a hold rating and set a $25.00 price target on shares of Wolverine World Wide in a research report on Wednesday, November 1st. Finally, Pivotal Research raised Wolverine World Wide from a hold rating to a buy rating and increased their price target for the company from $32.00 to $33.00 in a research report on Wednesday, November 8th. Ten research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $28.88.
Wolverine World Wide (WWW) opened at $29.73 on Thursday. The company has a current ratio of 2.97, a quick ratio of 2.20 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $2,844.59, a PE ratio of 18.13, a PEG ratio of 1.17 and a beta of 0.92. Wolverine World Wide has a 52-week low of $23.45 and a 52-week high of $33.82.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Shareholders of record on Monday, April 2nd will be paid a $0.08 dividend. This is a positive change from Wolverine World Wide’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Thursday, March 29th. This represents a $0.32 annualized dividend and a yield of 1.08%. Wolverine World Wide’s dividend payout ratio is currently -800.00%.
In other Wolverine World Wide news, Director Joseph R. Gromek sold 18,928 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $29.14, for a total value of $551,561.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 5.65% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the business. Xact Kapitalforvaltning AB bought a new stake in Wolverine World Wide in the fourth quarter valued at approximately $310,000. BRYN MAWR TRUST Co raised its stake in Wolverine World Wide by 0.9% in the fourth quarter. BRYN MAWR TRUST Co now owns 227,180 shares of the textile maker’s stock valued at $7,242,000 after buying an additional 2,134 shares during the period. MetLife Investment Advisors LLC bought a new stake in Wolverine World Wide in the fourth quarter valued at approximately $1,336,000. Millennium Management LLC raised its stake in Wolverine World Wide by 92.1% in the fourth quarter. Millennium Management LLC now owns 33,336 shares of the textile maker’s stock valued at $1,063,000 after buying an additional 15,986 shares during the period. Finally, Meadow Creek Investment Management LLC raised its stake in Wolverine World Wide by 29.6% in the fourth quarter. Meadow Creek Investment Management LLC now owns 14,450 shares of the textile maker’s stock valued at $461,000 after buying an additional 3,298 shares during the period. Hedge funds and other institutional investors own 93.12% of the company’s stock.
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Wolverine World Wide Company Profile
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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