Wolverine World Wide (NYSE:WWW) Stock Price Down 3.7% Following Insider Selling

Wolverine World Wide, Inc. (NYSE:WWW)’s stock price traded down 3.7% on Monday after an insider sold shares in the company. The stock traded as low as $16.83 and last traded at $16.86. 160,267 shares traded hands during trading, a decline of 85% from the average session volume of 1,084,273 shares. The stock had previously closed at $17.51.

Specifically, insider David A. Latchana sold 7,706 shares of the firm’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 owns 13,889 shares of the company’s stock, valued at approximately $236,390.78. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on WWW shares. Telsey Advisory Group reissued a “market perform” rating and set a $14.00 price objective on shares of Wolverine World Wide in a report on Wednesday, August 7th. UBS Group raised Wolverine World Wide from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $13.00 to $20.00 in a report on Friday, July 19th. Argus raised Wolverine World Wide to a “hold” rating in a report on Friday, August 16th. Piper Sandler reaffirmed an “overweight” rating and set a $18.00 target price on shares of Wolverine World Wide in a report on Friday, August 23rd. Finally, Robert W. Baird lifted their target price on Wolverine World Wide from $13.00 to $15.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $17.17.

Wolverine World Wide Stock Performance

The company has a 50-day moving average price of $14.14 and a two-hundred day moving average price of $12.82. 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 stock has a market capitalization of $1.36 billion, a P/E ratio of -18.24 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 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.05. Wolverine World Wide had a negative return on equity of 0.34% and a negative net margin of 4.42%. The business 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 company posted $0.19 EPS. The firm’s revenue was down 27.8% compared to the same quarter last year. On average, equities analysts forecast that Wolverine World Wide, Inc. will post 0.85 earnings per share for the current year.

Wolverine World Wide Dividend Announcement

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

Institutional Trading of Wolverine World Wide

A number of hedge funds and other institutional 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 4th quarter valued at about $2,563,000. GAMMA Investing LLC boosted its stake in Wolverine World Wide by 42.5% during the 1st quarter. GAMMA Investing LLC now owns 4,504 shares of the textile maker’s stock valued at $50,000 after purchasing an additional 1,343 shares during the last quarter. J.W. Cole Advisors Inc. boosted its stake in 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 valued at $350,000 after purchasing an additional 5,806 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in 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 valued at $731,000 after purchasing an additional 22,532 shares during the last quarter. Finally, Capstone Investment Advisors LLC acquired a new position in Wolverine World Wide during the 1st quarter valued at about $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.