Insider Buying: Wolverine World Wide (NYSE:WWW) Director Acquires 6,250 Shares of Stock

Wolverine World Wide, Inc. (NYSE:WWW) Director Jack Boyle purchased 6,250 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were bought at an average cost of $15.77 per share, with a total value of $98,562.50. Following the transaction, the director directly owned 6,250 shares of the company’s stock, valued at $98,562.50. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.

Wolverine World Wide Trading Up 2.8%

Shares of WWW traded up $0.45 during mid-day trading on Monday, reaching $16.37. The company had a trading volume of 3,986,610 shares, compared to its average volume of 1,666,667. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of 16.05 and a beta of 1.83. The firm has a fifty day simple moving average of $26.87 and a 200-day simple moving average of $22.60. Wolverine World Wide, Inc. has a fifty-two week low of $9.58 and a fifty-two week high of $32.80. The company has a current ratio of 1.24, a quick ratio of 0.75 and a debt-to-equity ratio of 1.58.

Wolverine World Wide (NYSE:WWW) last released its quarterly earnings data on Wednesday, November 5th. The textile maker reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03. The business had revenue of $470.30 million during the quarter, compared to the consensus estimate of $461.46 million. Wolverine World Wide had a return on equity of 31.99% and a net margin of 4.73%.The business’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.28 EPS. Wolverine World Wide has set its FY 2025 guidance at 1.290-1.340 EPS. On average, sell-side analysts anticipate that Wolverine World Wide, Inc. will post 1.23 EPS for the current fiscal year.

Wolverine World Wide Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Friday, January 2nd will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Friday, January 2nd. Wolverine World Wide’s dividend payout ratio (DPR) is 38.46%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on WWW. Telsey Advisory Group reiterated a “market perform” rating and set a $18.00 price objective (down from $29.00) on shares of Wolverine World Wide in a research note on Wednesday, November 5th. Wall Street Zen lowered shares of Wolverine World Wide from a “strong-buy” rating to a “buy” rating in a report on Saturday. UBS Group lowered their price target on Wolverine World Wide from $39.00 to $28.00 and set a “buy” rating for the company in a report on Thursday. KeyCorp reduced their price objective on Wolverine World Wide from $32.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, Robert W. Baird decreased their target price on Wolverine World Wide from $35.00 to $23.00 and set an “outperform” rating for the company in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.29.

Institutional Trading of Wolverine World Wide

Several institutional investors and hedge funds have recently bought and sold shares of WWW. Counterpoint Mutual Funds LLC bought a new stake in Wolverine World Wide during the third quarter valued at $860,000. Hillsdale Investment Management Inc. boosted its holdings in shares of Wolverine World Wide by 2.6% in the 3rd quarter. Hillsdale Investment Management Inc. now owns 290,550 shares of the textile maker’s stock valued at $7,973,000 after buying an additional 7,470 shares during the period. Jupiter Asset Management Ltd. grew its position in shares of Wolverine World Wide by 131.6% during the 3rd quarter. Jupiter Asset Management Ltd. now owns 563,255 shares of the textile maker’s stock valued at $15,456,000 after buying an additional 320,043 shares during the last quarter. M&G PLC acquired a new stake in Wolverine World Wide during the third quarter worth about $10,618,000. Finally, PNC Financial Services Group Inc. lifted its holdings in Wolverine World Wide by 38.7% in the third quarter. PNC Financial Services Group Inc. now owns 11,942 shares of the textile maker’s stock worth $328,000 after acquiring an additional 3,334 shares during the last quarter. Institutional investors and hedge funds 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.