Wolverine World Wide (NYSE:WWW) Director Demonty Price Buys 25,000 Shares

Wolverine World Wide, Inc. (NYSE:WWW) Director Demonty Price purchased 25,000 shares of the stock in a transaction that occurred on Friday, November 7th. The stock was purchased at an average price of $15.77 per share, with a total value of $394,250.00. Following the acquisition, the director directly owned 75,000 shares of the company’s stock, valued at $1,182,750. This trade represents a 50.00% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Wolverine World Wide Stock Up 2.8%

NYSE WWW traded up $0.45 on Monday, reaching $16.37. 3,533,090 shares of the stock traded hands, compared to its average volume of 1,666,667. Wolverine World Wide, Inc. has a 12 month low of $9.58 and a 12 month high of $32.80. The company has a market cap of $1.33 billion, a price-to-earnings ratio of 16.05 and a beta of 1.83. The company has a fifty day moving average price of $26.87 and a 200-day moving average price of $22.60. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.75 and a current ratio of 1.24.

Wolverine World Wide (NYSE:WWW) last announced its quarterly earnings results on Wednesday, November 5th. The textile maker reported $0.36 EPS for the quarter, beating the consensus estimate of $0.33 by $0.03. The firm had revenue of $470.30 million for the quarter, compared to analyst estimates 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 quarter last year, the firm posted $0.28 earnings per share. Wolverine World Wide has set its FY 2025 guidance at 1.290-1.340 EPS. As a group, research analysts forecast that Wolverine World Wide, Inc. will post 1.23 EPS for the current fiscal year.

Wolverine World Wide Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Friday, January 2nd will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Friday, January 2nd. Wolverine World Wide’s dividend payout ratio (DPR) is 38.46%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on WWW shares. Piper Sandler restated an “overweight” rating and issued a $25.00 price target (up from $20.00) on shares of Wolverine World Wide in a report on Tuesday, August 5th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $18.00 price target (down from $29.00) on shares of Wolverine World Wide in a research report on Wednesday, November 5th. Zacks Research lowered Wolverine World Wide from a “strong-buy” rating to a “hold” rating in a report on Monday, October 27th. KeyCorp dropped their target price 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, Stifel Nicolaus set a $25.00 target price on Wolverine World Wide in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $23.29.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Counterpoint Mutual Funds LLC acquired a new stake in shares of Wolverine World Wide during the third quarter worth about $860,000. Hillsdale Investment Management Inc. increased its holdings in 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 worth $7,973,000 after buying an additional 7,470 shares during the period. Jupiter Asset Management Ltd. raised its position in 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 worth $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 3rd quarter valued at approximately $10,618,000. Finally, PNC Financial Services Group Inc. lifted its stake in Wolverine World Wide by 38.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 11,942 shares of the textile maker’s stock valued at $328,000 after acquiring an additional 3,334 shares during the period. 90.25% of the stock is owned by institutional investors and hedge funds.

Wolverine World Wide Company Profile

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.