Wolverine World Wide, Inc. (NYSE:WWW) Insider Sells $131,156.12 in Stock

Wolverine World Wide, Inc. (NYSE:WWW) insider David A. Latchana sold 7,706 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $17.02, for a total transaction of $131,156.12. Following the completion of the sale, the insider now owns 13,889 shares in the company, valued at $236,390.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Wolverine World Wide Price Performance

Shares of NYSE:WWW opened at $17.16 on Thursday. The company has a market cap of $1.37 billion, a P/E ratio of -18.45 and a beta of 1.76. The company’s fifty day moving average is $14.20 and its two-hundred day moving average is $12.85. The company has a quick ratio of 0.74, a current ratio of 1.19 and a debt-to-equity ratio of 2.14. Wolverine World Wide, Inc. has a 12-month low of $7.21 and a 12-month high of $17.57.

Wolverine World Wide (NYSE:WWW) last announced its quarterly earnings data on Wednesday, August 7th. The textile maker reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.05. Wolverine World Wide had a negative return on equity of 0.34% and a negative net margin of 4.42%. The firm had revenue of $425.40 million during the quarter, compared to the consensus estimate of $411.20 million. During the same period in the prior year, the business earned $0.19 EPS. The business’s revenue for the quarter was down 27.8% on a year-over-year basis. Equities analysts expect that Wolverine World Wide, Inc. will post 0.85 earnings per share for the current fiscal year.

Wolverine World Wide Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Tuesday, October 1st will be paid a $0.10 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $0.40 annualized dividend and a yield of 2.33%. Wolverine World Wide’s dividend payout ratio is presently -43.01%.

Analysts Set New Price Targets

WWW has been the topic of a number of research reports. Piper Sandler reiterated an “overweight” rating and issued a $18.00 target price on shares of Wolverine World Wide in a report on Friday, August 23rd. KeyCorp raised Wolverine World Wide from a “sector weight” rating to an “overweight” rating and set a $20.00 price target on the stock in a report on Thursday, August 8th. UBS Group raised Wolverine World Wide from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $13.00 to $20.00 in a research note on Friday, July 19th. Robert W. Baird boosted their target price on Wolverine World Wide from $13.00 to $15.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $14.00 target price on shares of Wolverine World Wide in a report on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $17.17.

Institutional Investors Weigh In On Wolverine World Wide

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its stake in shares of Wolverine World Wide by 42.5% in the first quarter. GAMMA Investing LLC now owns 4,504 shares of the textile maker’s stock worth $50,000 after acquiring an additional 1,343 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in Wolverine World Wide in the second quarter valued at about $68,000. Central Pacific Bank Trust Division acquired a new position in Wolverine World Wide in the 1st quarter worth about $81,000. Natixis purchased a new stake in shares of Wolverine World Wide during the 1st quarter worth about $112,000. Finally, EntryPoint Capital LLC acquired a new stake in shares of Wolverine World Wide during the 1st quarter valued at about $141,000. Hedge funds and other 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.