David A. Latchana Sells 7,706 Shares of Wolverine World Wide, Inc. (NYSE:WWW) Stock

Wolverine World Wide, Inc. (NYSE:WWW) insider David A. Latchana sold 7,706 shares of the company’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 completion of the sale, the insider now owns 13,889 shares of the company’s stock, valued at $236,390.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Wolverine World Wide Price Performance

NYSE:WWW opened at $17.16 on Thursday. The company has a debt-to-equity ratio of 2.14, a current ratio of 1.19 and a quick ratio of 0.74. The stock has a market cap of $1.37 billion, a P/E ratio of -18.45 and a beta of 1.76. The company has a fifty day moving average price of $14.20 and a 200 day moving average price of $12.85. Wolverine World Wide, Inc. has a one year low of $7.21 and a one year high of $17.57.

Wolverine World Wide (NYSE:WWW) last released its earnings results on Wednesday, August 7th. The textile maker reported $0.15 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $411.20 million. During the same quarter last year, the company earned $0.19 earnings per share. The firm’s revenue was down 27.8% on a year-over-year basis. Analysts anticipate that Wolverine World Wide, Inc. will post 0.85 earnings per share for the current year.

Wolverine World Wide Announces Dividend

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 paid a $0.10 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.33%. Wolverine World Wide’s payout ratio is -43.01%.

Analyst Ratings Changes

Several analysts have recently issued reports on WWW shares. UBS Group upgraded Wolverine World Wide from a “neutral” rating to a “buy” rating and upped their price target for the stock from $13.00 to $20.00 in a research note on Friday, July 19th. Argus raised Wolverine World Wide to a “hold” rating in a research report on Friday, August 16th. Telsey Advisory Group reissued a “market perform” rating and issued a $14.00 price target on shares of Wolverine World Wide in a research report on Wednesday, August 7th. Piper Sandler reiterated an “overweight” rating and issued a $18.00 target price on shares of Wolverine World Wide in a research note on Friday, August 23rd. Finally, Robert W. Baird lifted their target price on shares of 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 issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $17.17.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Capstone Investment Advisors LLC bought a new position in shares of Wolverine World Wide during the 1st quarter worth about $1,089,000. Manning & Napier Advisors LLC acquired a new stake in Wolverine World Wide during the second quarter valued at approximately $7,098,000. Federated Hermes Inc. grew its stake in shares of Wolverine World Wide by 10,607.4% in the 2nd quarter. Federated Hermes Inc. now owns 540,402 shares of the textile maker’s stock valued at $7,306,000 after purchasing an additional 535,355 shares during the period. Intrinsic Edge Capital Management LLC bought a new stake in shares of Wolverine World Wide in the 4th quarter valued at approximately $2,563,000. Finally, SG Americas Securities LLC acquired a new position in shares of Wolverine World Wide in the 2nd quarter worth approximately $548,000. 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.