Insider Selling: Wolverine World Wide, Inc. (NYSE:WWW) Insider Sells 7,687 Shares of Stock

Wolverine World Wide, Inc. (NYSE:WWW) insider Isabel Soriano sold 7,687 shares of Wolverine World Wide stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $23.57, for a total value of $181,182.59. Following the completion of the transaction, the insider now directly owns 34,206 shares of the company’s stock, valued at $806,235.42. This represents a 18.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Wolverine World Wide Stock Down 0.1 %

NYSE:WWW opened at $22.83 on Monday. The company has a quick ratio of 0.77, a current ratio of 1.23 and a debt-to-equity ratio of 1.91. Wolverine World Wide, Inc. has a 12-month low of $7.88 and a 12-month high of $24.64. The stock’s fifty day simple moving average is $22.80 and its 200-day simple moving average is $17.60. The firm has a market capitalization of $1.83 billion, a P/E ratio of -25.65 and a beta of 1.88.

Wolverine World Wide Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 2nd will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date is Thursday, January 2nd. Wolverine World Wide’s dividend payout ratio (DPR) is currently -44.94%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on WWW shares. StockNews.com downgraded shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Stifel Nicolaus raised Wolverine World Wide from a “hold” rating to a “buy” rating and upped their price objective for the stock from $21.00 to $29.00 in a report on Wednesday, December 11th. BNP Paribas upgraded Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 price objective on the stock in a research report on Thursday, October 3rd. Finally, Telsey Advisory Group restated a “market perform” rating and set a $15.00 target price on shares of Wolverine World Wide in a research report on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $19.38.

Institutional Trading of Wolverine World Wide

Institutional investors and hedge funds have recently modified their holdings of the stock. Sheets Smith Wealth Management bought a new position in Wolverine World Wide during the 4th quarter worth approximately $273,000. Range Financial Group LLC bought a new position in shares of Wolverine World Wide during the fourth quarter worth $1,072,000. GAMMA Investing LLC boosted its position in shares of Wolverine World Wide by 12.5% during the fourth quarter. GAMMA Investing LLC now owns 5,057 shares of the textile maker’s stock worth $112,000 after purchasing an additional 563 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Wolverine World Wide by 1,263.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,426,942 shares of the textile maker’s stock valued at $24,857,000 after buying an additional 1,322,254 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Wolverine World Wide in the 3rd quarter valued at $113,000. 90.25% of the stock is owned by institutional investors.

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.