Wolverine World Wide (NYSE:WWW) Director Jack Boyle Purchases 6,250 Shares

Wolverine World Wide, Inc. (NYSE:WWW) Director Jack Boyle purchased 6,250 shares of Wolverine World Wide stock in a transaction on Friday, November 7th. The shares were acquired at an average price of $15.77 per share, with a total value of $98,562.50. Following the transaction, the director directly owned 6,250 shares in the company, valued at $98,562.50. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Wolverine World Wide Price Performance

Shares of WWW stock traded up $0.45 during midday trading on Monday, reaching $16.37. 3,986,610 shares of the company were exchanged, compared to its average volume of 1,666,667. The company’s 50 day moving average price is $26.87 and its two-hundred day moving average price is $22.60. The company has a market cap of $1.33 billion, a P/E ratio of 16.05 and a beta of 1.83. Wolverine World Wide, Inc. has a 12 month low of $9.58 and a 12 month high of $32.80. 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 earnings results on Wednesday, November 5th. The textile maker reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.03. Wolverine World Wide had a return on equity of 31.99% and a net margin of 4.73%.The business had revenue of $470.30 million during the quarter, compared to analysts’ expectations of $461.46 million. During the same quarter last year, the business posted $0.28 earnings per share. The company’s quarterly revenue was up 6.8% on a year-over-year basis. Wolverine World Wide has set its FY 2025 guidance at 1.290-1.340 EPS. On average, sell-side analysts expect that Wolverine World Wide, Inc. will post 1.23 earnings per share for the current year.

Wolverine World Wide Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. UBS Group lowered their target price on Wolverine World Wide from $39.00 to $28.00 and set a “buy” rating on the stock in a research note on Thursday. Piper Sandler reiterated an “overweight” rating and issued a $25.00 price objective (up previously from $20.00) on shares of Wolverine World Wide in a research note on Tuesday, August 5th. Stifel Nicolaus set a $25.00 target price on shares of Wolverine World Wide in a research note on Thursday. Zacks Research cut shares of Wolverine World Wide from a “strong-buy” rating to a “hold” rating in a report on Monday, October 27th. Finally, KeyCorp dropped their price target on shares of Wolverine World Wide from $32.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Wolverine World Wide has a consensus rating of “Moderate Buy” and an average price target of $23.29.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of WWW. Hara Capital LLC bought a new position in shares of Wolverine World Wide in the second quarter worth about $30,000. Canada Pension Plan Investment Board bought a new position in Wolverine World Wide in the 2nd quarter worth approximately $34,000. Covestor Ltd increased its position in Wolverine World Wide by 16,025.0% in the 3rd quarter. Covestor Ltd now owns 1,290 shares of the textile maker’s stock worth $35,000 after buying an additional 1,282 shares during the period. Hilltop National Bank acquired a new position in shares of Wolverine World Wide during the second quarter worth approximately $85,000. Finally, AlphaQuest LLC boosted its position in shares of Wolverine World Wide by 370.0% in the third quarter. AlphaQuest LLC now owns 3,257 shares of the textile maker’s stock valued at $89,000 after acquiring an additional 2,564 shares during the period. 90.25% of the stock is currently 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.