Wolverine World Wide Sees Unusually High Options Volume (NYSE:WWW)

Wolverine World Wide, Inc. (NYSE:WWW) was the target of some unusual options trading on Tuesday. Stock investors acquired 3,593 put options on the company. This is an increase of 317% compared to the typical volume of 862 put options.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on WWW. UBS Group dropped their price target on Wolverine World Wide from $29.00 to $26.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Robert W. Baird decreased their target price on shares of Wolverine World Wide from $21.00 to $18.00 and set a “neutral” rating for the company in a research report on Thursday, February 20th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $23.00 price target on shares of Wolverine World Wide in a report on Wednesday, February 19th. StockNews.com cut Wolverine World Wide from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th. Finally, Stifel Nicolaus upgraded Wolverine World Wide from a “hold” rating to a “buy” rating and boosted their target price for the stock from $21.00 to $29.00 in a research note on Wednesday, December 11th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $21.50.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. GAMMA Investing LLC lifted its position in shares of Wolverine World Wide by 12.5% during the 4th quarter. GAMMA Investing LLC now owns 5,057 shares of the textile maker’s stock valued at $112,000 after buying an additional 563 shares in the last quarter. HighTower Advisors LLC raised its position in shares of Wolverine World Wide by 5.2% during the 4th quarter. HighTower Advisors LLC now owns 11,526 shares of the textile maker’s stock worth $256,000 after purchasing an additional 574 shares during the last quarter. Summit Investment Advisors Inc. lifted its stake in Wolverine World Wide by 7.5% in the 4th quarter. Summit Investment Advisors Inc. now owns 8,305 shares of the textile maker’s stock valued at $184,000 after buying an additional 581 shares in the last quarter. Signaturefd LLC increased its stake in Wolverine World Wide by 88.8% during the 4th quarter. Signaturefd LLC now owns 1,450 shares of the textile maker’s stock worth $32,000 after buying an additional 682 shares in the last quarter. Finally, Natixis Advisors LLC raised its holdings in shares of Wolverine World Wide by 3.8% during the fourth quarter. Natixis Advisors LLC now owns 28,608 shares of the textile maker’s stock valued at $635,000 after acquiring an additional 1,035 shares during the last quarter. Institutional investors and hedge funds own 90.25% of the company’s stock.

Wolverine World Wide Trading Up 4.0 %

Shares of NYSE:WWW opened at $14.63 on Thursday. The company has a quick ratio of 0.77, a current ratio of 1.29 and a debt-to-equity ratio of 1.79. Wolverine World Wide has a 52-week low of $9.07 and a 52-week high of $24.64. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of 26.60 and a beta of 1.93. The business has a 50-day moving average price of $16.93 and a 200-day moving average price of $18.99.

Wolverine World Wide (NYSE:WWW) last announced its quarterly earnings data on Wednesday, February 19th. The textile maker reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. The business had revenue of $494.70 million during the quarter, compared to analysts’ expectations of $485.74 million. Wolverine World Wide had a net margin of 2.73% and a return on equity of 26.81%. The business’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.30) EPS. Equities analysts predict that Wolverine World Wide will post 1.23 EPS for the current year.

Wolverine World Wide Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 1st will be paid a $0.10 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.73%. Wolverine World Wide’s payout ratio is 72.73%.

About Wolverine World Wide

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.