Wolverine World Wide (NYSE:WWW) has been assigned a $34.00 target price by stock analysts at Stifel Nicolaus in a research report issued to clients and investors on Saturday. The brokerage currently has a “buy” rating on the textile maker’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 11.70% from the stock’s previous close.
A number of other equities research analysts also recently weighed in on WWW. Pivotal Research began coverage on Wolverine World Wide in a research report on Thursday, October 5th. They set a “hold” rating and a $32.00 price objective on the stock. ValuEngine cut Wolverine World Wide from a “buy” rating to a “hold” rating in a research note on Thursday, August 24th. Telsey Advisory Group increased their price target on Wolverine World Wide from $29.00 to $30.00 and gave the company a “market perform” rating in a research note on Thursday, November 9th. Robert W. Baird reiterated a “buy” rating and issued a $32.00 price target on shares of Wolverine World Wide in a research note on Sunday, September 17th. Finally, Buckingham Research increased their price target on Wolverine World Wide from $24.00 to $28.00 and gave the company a “neutral” rating in a research note on Thursday, November 9th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $26.41.
Shares of Wolverine World Wide (WWW) opened at $30.44 on Friday. Wolverine World Wide has a 12-month low of $20.94 and a 12-month high of $30.51. The firm has a market capitalization of $2,912.53, 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 quick ratio of 2.06 and a current ratio of 3.09.
In other news, Director Joseph R. Gromek sold 18,928 shares of the firm’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $29.14, for a total value of $551,561.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael Jeppesen sold 11,807 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $27.97, for a total value of $330,241.79. The disclosure for this sale can be found here. Company insiders own 5.65% of the company’s stock.
A number of institutional investors have recently bought and sold shares of WWW. Systematic Financial Management LP acquired a new stake in Wolverine World Wide during the second quarter worth about $27,385,000. Prudential Financial Inc. grew its holdings in Wolverine World Wide by 129.1% during the second quarter. Prudential Financial Inc. now owns 1,154,622 shares of the textile maker’s stock worth $32,341,000 after acquiring an additional 650,710 shares during the period. Citadel Advisors LLC grew its holdings in Wolverine World Wide by 568.4% during the third quarter. Citadel Advisors LLC now owns 639,185 shares of the textile maker’s stock worth $18,440,000 after acquiring an additional 543,559 shares during the period. Victory Capital Management Inc. grew its holdings in Wolverine World Wide by 22.1% in the third quarter. Victory Capital Management Inc. now owns 2,903,558 shares of the textile maker’s stock valued at $83,768,000 after purchasing an additional 525,150 shares during the period. Finally, Marshall Wace North America L.P. grew its holdings in Wolverine World Wide by 180.8% in the second quarter. Marshall Wace North America L.P. now owns 808,859 shares of the textile maker’s stock valued at $22,648,000 after purchasing an additional 520,754 shares during the period. 92.50% of the stock is currently owned by hedge funds and other 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.
