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 transaction, the insider now owns 13,889 shares of the company’s stock, valued at $236,390.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Wolverine World Wide Stock Performance

Shares of NYSE WWW traded down $0.09 during mid-day trading on Monday, hitting $17.42. The stock had a trading volume of 2,525,522 shares, compared to its average volume of 1,096,854. The firm has a market cap of $1.39 billion, a PE ratio of -18.30 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 company has a 50 day moving average of $14.02 and a two-hundred day moving average of $12.72. Wolverine World Wide, Inc. has a twelve month low of $7.21 and a twelve 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. The firm had revenue of $425.40 million during the quarter, compared to analysts’ expectations of $411.20 million. Wolverine World Wide had a negative return on equity of 0.34% and a negative net margin of 4.42%. The company’s revenue for the quarter was down 27.8% compared to the same quarter last year. During the same period last year, the business posted $0.19 earnings per share. Research analysts predict that Wolverine World Wide, Inc. will post 0.85 EPS 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 issued a $0.10 dividend. 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 (DPR) is currently -43.01%.

Institutional Trading of Wolverine World Wide

A number of hedge funds and other institutional investors have recently made changes to their positions in WWW. Capstone Investment Advisors LLC acquired a new stake in Wolverine World Wide during the first quarter worth about $1,089,000. Manning & Napier Advisors LLC acquired a new stake in shares of Wolverine World Wide during the 2nd quarter worth approximately $7,098,000. Federated Hermes Inc. increased its holdings in shares of Wolverine World Wide by 10,607.4% during the 2nd quarter. Federated Hermes Inc. now owns 540,402 shares of the textile maker’s stock valued at $7,306,000 after purchasing an additional 535,355 shares in the last quarter. Intrinsic Edge Capital Management LLC acquired a new position in shares of Wolverine World Wide in the 4th quarter valued at $2,563,000. Finally, SG Americas Securities LLC purchased a new stake in Wolverine World Wide during the second quarter worth $548,000. Institutional investors and hedge funds own 90.25% of the company’s stock.

Analyst Ratings Changes

WWW has been the subject of several recent analyst reports. Argus upgraded shares of Wolverine World Wide to a “hold” rating in a research note on Friday, August 16th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $14.00 price target on shares of Wolverine World Wide in a research report on Wednesday, August 7th. Robert W. Baird increased their price objective on Wolverine World Wide from $13.00 to $15.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Piper Sandler restated an “overweight” rating and set a $18.00 target price on shares of Wolverine World Wide in a research note on Friday, August 23rd. Finally, KeyCorp raised Wolverine World Wide from a “sector weight” rating to an “overweight” rating and set a $20.00 target price on the stock in a research report on Thursday, August 8th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.17.

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.