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

Shares of Wolverine World Wide, Inc. (NYSE:WWW) were down 3.7% during mid-day trading on Monday following insider selling activity. The stock traded as low as $16.83 and last traded at $16.86. Approximately 160,267 shares traded hands during mid-day trading, a decline of 85% from the average daily 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 business’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $17.02, for a total value of $131,156.12. Following the transaction, the insider now owns 13,889 shares in the company, valued at approximately $236,390.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. KeyCorp upgraded 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 note on Thursday, August 8th. Robert W. Baird boosted their target price on Wolverine World Wide from $13.00 to $15.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Telsey Advisory Group reiterated 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. Argus upgraded Wolverine World Wide to a “hold” rating in a research note on Friday, August 16th. Finally, UBS Group upgraded Wolverine World Wide from a “neutral” rating to a “buy” rating and upped their price objective for the company from $13.00 to $20.00 in a research note on Friday, July 19th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $17.17.

Wolverine World Wide Price Performance

The business’s fifty day simple moving average is $14.14 and its 200-day simple moving average is $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 firm has a market cap 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 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 business had revenue of $425.40 million for the quarter, compared to analysts’ expectations of $411.20 million. During the same quarter in the previous year, the firm posted $0.19 EPS. The business’s revenue for the quarter was down 27.8% compared to the same quarter last year. As a group, analysts forecast that Wolverine World Wide, Inc. will post 0.85 EPS for the current fiscal year.

Wolverine World Wide Announces Dividend

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 issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $0.40 dividend on an annualized basis and a yield of 2.36%. Wolverine World Wide’s payout ratio is -43.01%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Capstone Investment Advisors LLC bought a new position in shares of Wolverine World Wide in the first quarter worth $1,089,000. Manning & Napier Advisors LLC bought a new position in Wolverine World Wide in the second quarter valued at $7,098,000. Federated Hermes Inc. increased its stake in Wolverine World Wide by 10,607.4% in the second quarter. Federated Hermes Inc. now owns 540,402 shares of the textile maker’s stock valued at $7,306,000 after acquiring an additional 535,355 shares during the last quarter. Intrinsic Edge Capital Management LLC bought a new position in Wolverine World Wide in the fourth quarter valued at $2,563,000. Finally, SG Americas Securities LLC bought a new position in Wolverine World Wide in the second quarter valued at $548,000. 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.