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 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 completion of the sale, the insider now owns 13,889 shares in the company, valued at approximately $236,390.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Wolverine World Wide Trading Down 0.5 %

Shares of NYSE WWW traded down $0.09 during midday trading on Monday, hitting $17.42. The company’s stock had a trading volume of 2,525,522 shares, compared to its average volume of 1,096,854. The business’s 50 day moving average is $14.02 and its two-hundred day moving average is $12.72. Wolverine World Wide, Inc. has a 12-month low of $7.21 and a 12-month high of $17.57. The company has a current ratio of 1.19, a quick ratio of 0.74 and a debt-to-equity ratio of 2.14. The firm has a market cap of $1.39 billion, a P/E ratio of -18.30 and a beta of 1.76.

Wolverine World Wide (NYSE:WWW) last issued its earnings results 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 firm had revenue of $425.40 million during the quarter, compared to analyst estimates of $411.20 million. During the same period in the previous year, the firm earned $0.19 earnings per share. The business’s revenue was down 27.8% on a year-over-year basis. As a group, equities research analysts expect that Wolverine World Wide, Inc. will post 0.85 EPS for the current year.

Wolverine World Wide Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 1st will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.30%. The ex-dividend date is Tuesday, October 1st. Wolverine World Wide’s dividend payout ratio is presently -43.01%.

Analyst Ratings Changes

Several analysts have recently issued reports on WWW shares. UBS Group raised Wolverine World Wide from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $13.00 to $20.00 in a report on Friday, July 19th. KeyCorp upgraded Wolverine World Wide from a “sector weight” rating to an “overweight” rating and set a $20.00 price objective on the stock in a research report on Thursday, August 8th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $14.00 price objective on shares of Wolverine World Wide in a research note on Wednesday, August 7th. Robert W. Baird boosted their target price on Wolverine World Wide from $13.00 to $15.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Finally, Argus upgraded Wolverine World Wide to a “hold” rating in a research report on Friday, August 16th. Four research 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 a consensus target price of $17.17.

Institutional Trading of Wolverine World Wide

A number of large investors have recently modified their holdings of the company. Mackenzie Financial Corp bought a new stake in shares of Wolverine World Wide in the second quarter valued at about $160,000. The Manufacturers Life Insurance Company increased its position in Wolverine World Wide by 7.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,512 shares of the textile maker’s stock valued at $413,000 after purchasing an additional 2,138 shares during the period. Earnest Partners LLC raised its holdings in shares of Wolverine World Wide by 1.7% in the 2nd quarter. Earnest Partners LLC now owns 5,321,797 shares of the textile maker’s stock valued at $71,951,000 after purchasing an additional 90,407 shares in the last quarter. Caxton Associates LP purchased a new stake in shares of Wolverine World Wide in the 2nd quarter worth approximately $261,000. Finally, Aristeia Capital L.L.C. bought a new position in shares of Wolverine World Wide during the second quarter valued at approximately $288,000. Hedge funds and other institutional investors own 90.25% of the company’s stock.

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.