Insider Selling: Wolverine World Wide, Inc. (NYSE:WWW) Insider Sells 7,706 Shares of Stock

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

Wolverine World Wide Trading Down 2.6 %

Shares of WWW stock opened at $16.97 on Wednesday. Wolverine World Wide, Inc. has a 52-week low of $7.21 and a 52-week high of $17.57. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of -18.26 and a beta of 1.76. The company has a debt-to-equity ratio of 2.14, a quick ratio of 0.74 and a current ratio of 1.19. The firm has a fifty day moving average of $14.09 and a 200-day moving average of $12.77.

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, beating analysts’ consensus estimates of $0.10 by $0.05. Wolverine World Wide had a negative net margin of 4.42% and a negative return on equity of 0.34%. The company had revenue of $425.40 million during the quarter, compared to analysts’ expectations of $411.20 million. During the same quarter in the prior year, the company posted $0.19 EPS. The business’s revenue was down 27.8% on a year-over-year basis. On average, equities research analysts forecast that Wolverine World Wide, Inc. will post 0.85 earnings per share for the current fiscal year.

Wolverine World Wide Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 1st will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date is Tuesday, October 1st. Wolverine World Wide’s dividend payout ratio is -43.01%.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Wolverine World Wide

A number of hedge funds have recently made changes to their positions in the business. Intrinsic Edge Capital Management LLC acquired a new stake in shares of Wolverine World Wide during the 4th quarter worth about $2,563,000. GAMMA Investing LLC increased its position in shares of Wolverine World Wide by 42.5% during the 1st quarter. GAMMA Investing LLC now owns 4,504 shares of the textile maker’s stock worth $50,000 after purchasing an additional 1,343 shares in the last quarter. J.W. Cole Advisors Inc. increased its position in shares of Wolverine World Wide by 22.6% during the 1st quarter. J.W. Cole Advisors Inc. now owns 31,536 shares of the textile maker’s stock worth $350,000 after purchasing an additional 5,806 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of Wolverine World Wide by 52.8% during the 1st quarter. BNP Paribas Financial Markets now owns 65,242 shares of the textile maker’s stock worth $731,000 after purchasing an additional 22,532 shares in the last quarter. Finally, Capstone Investment Advisors LLC acquired a new stake in shares of Wolverine World Wide during the 1st quarter worth about $1,089,000. Institutional investors and hedge funds 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.