Insider Selling: Wolverine World Wide (WWW) CFO Sells 38,010 Shares of Stock

Wolverine World Wide (NYSE:WWW) CFO Michael D. Stornant sold 38,010 shares of the firm’s stock in a transaction on Friday, May 18th. The shares were sold at an average price of $32.38, for a total value of $1,230,763.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shares of Wolverine World Wide traded down $0.03, hitting $32.90, during mid-day trading on Tuesday, MarketBeat Ratings reports. 426,746 shares of the stock were exchanged, compared to its average volume of 811,820. The firm has a market cap of $3.06 billion, a price-to-earnings ratio of 20.06, a PEG ratio of 1.57 and a beta of 0.96. Wolverine World Wide has a 12-month low of $24.81 and a 12-month high of $33.82. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.13 and a current ratio of 3.18.

Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings data on Wednesday, May 9th. The textile maker reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.13. Wolverine World Wide had a return on equity of 17.54% and a net margin of 1.28%. The company had revenue of $534.10 million for the quarter, compared to analyst estimates of $531.10 million. During the same quarter last year, the company posted $0.37 earnings per share. The business’s quarterly revenue was down 9.7% compared to the same quarter last year. research analysts predict that Wolverine World Wide will post 2.06 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 1st. Investors of record on Monday, July 2nd will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date is Friday, June 29th. Wolverine World Wide’s dividend payout ratio is currently 19.51%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Wolverine World Wide by 50.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,883 shares of the textile maker’s stock worth $156,000 after buying an additional 1,646 shares during the last quarter. FDx Advisors Inc. grew its holdings in shares of Wolverine World Wide by 9.5% during the fourth quarter. FDx Advisors Inc. now owns 20,054 shares of the textile maker’s stock worth $639,000 after buying an additional 1,739 shares during the last quarter. UBS Asset Management Americas Inc. grew its holdings in shares of Wolverine World Wide by 2.7% during the fourth quarter. UBS Asset Management Americas Inc. now owns 66,809 shares of the textile maker’s stock worth $2,130,000 after buying an additional 1,747 shares during the last quarter. Mason Street Advisors LLC grew its holdings in shares of Wolverine World Wide by 7.0% during the first quarter. Mason Street Advisors LLC now owns 26,634 shares of the textile maker’s stock worth $770,000 after buying an additional 1,748 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan grew its holdings in shares of Wolverine World Wide by 4.8% during the first quarter. Municipal Employees Retirement System of Michigan now owns 38,350 shares of the textile maker’s stock worth $1,108,000 after buying an additional 1,770 shares during the last quarter. 96.70% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have weighed in on WWW shares. Pivotal Research cut Wolverine World Wide from a “buy” rating to a “hold” rating and set a $33.00 price target on the stock. in a research note on Friday, February 9th. Citigroup restated a “neutral” rating and issued a $32.00 price target (up from $29.00) on shares of Wolverine World Wide in a research note on Monday, February 12th. Zacks Investment Research upgraded Wolverine World Wide from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research note on Thursday, February 15th. DA Davidson raised Wolverine World Wide from a “neutral” rating to a “buy” rating and set a $36.00 price objective on the stock in a report on Thursday, February 22nd. Finally, ValuEngine raised Wolverine World Wide from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. Eleven research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Wolverine World Wide currently has an average rating of “Hold” and an average price target of $32.05.

About Wolverine World Wide

Wolverine World Wide, Inc designs, manufactures, sources, markets, licenses, and distributes footwear, apparel, and accessories. The company operates through four segments: Wolverine Outdoor & Lifestyle Group, Wolverine Boston Group, Wolverine Heritage Group, and Wolverine Multi-Brand Group. It offers casual footwear and apparel; performance outdoor and athletic footwear and apparel; children's footwear; industrial work boots and apparel; and uniform shoes and boots.

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