David A. Latchana Sells 7,706 Shares of Wolverine World Wide, Inc. (NYSE:WWW) Stock

Wolverine World Wide, Inc. (NYSE:WWW) insider David A. Latchana sold 7,706 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were 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 Securities & Exchange Commission, which is available through this hyperlink.

Wolverine World Wide Stock Down 2.6 %

Wolverine World Wide stock opened at $16.97 on Wednesday. The firm has a market cap of $1.36 billion, a PE 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’s 50 day moving average price is $14.09 and its two-hundred day moving average price is $12.77. 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 released its quarterly earnings data on Wednesday, August 7th. The textile maker reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.05. The firm had revenue of $425.40 million for the quarter, compared to analyst estimates of $411.20 million. Wolverine World Wide had a negative net margin of 4.42% and a negative return on equity of 0.34%. The company’s revenue for the quarter was down 27.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.19 EPS. On average, 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 announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Tuesday, October 1st will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a 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

A number of equities research analysts have recently issued reports on the stock. KeyCorp upgraded shares of 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. Robert W. Baird boosted their price target on shares of 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 price target on shares of Wolverine World Wide in a report on Friday, August 23rd. Argus upgraded shares of Wolverine World Wide to a “hold” rating in a report on Friday, August 16th. Finally, UBS Group upgraded shares of Wolverine World Wide from a “neutral” rating to a “buy” rating and boosted their price target for the company from $13.00 to $20.00 in a report on Friday, July 19th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $17.17.

Institutional Trading of Wolverine World Wide

Several large investors have recently added to or reduced their stakes in WWW. Intrinsic Edge Capital Management LLC bought a new stake in Wolverine World Wide in the fourth quarter worth approximately $2,563,000. GAMMA Investing LLC grew its position in 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 in the last quarter. J.W. Cole Advisors Inc. grew its position in Wolverine World Wide by 22.6% in the first quarter. J.W. Cole Advisors Inc. now owns 31,536 shares of the textile maker’s stock worth $350,000 after acquiring an additional 5,806 shares in the last quarter. BNP Paribas Financial Markets grew its position in Wolverine World Wide by 52.8% in the first quarter. BNP Paribas Financial Markets now owns 65,242 shares of the textile maker’s stock worth $731,000 after acquiring an additional 22,532 shares in the last quarter. Finally, Capstone Investment Advisors LLC bought a new stake in Wolverine World Wide in the first quarter worth approximately $1,089,000. 90.25% of the stock is owned by institutional investors.

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.