Insider Buying: Wolverine World Wide (NYSE:WWW) Director Acquires $31,760.00 in Stock

Wolverine World Wide, Inc. (NYSE:WWW) Director Nicholas Long acquired 2,000 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was acquired at an average cost of $15.88 per share, for a total transaction of $31,760.00. Following the transaction, the director owned 78,268 shares of the company’s stock, valued at $1,242,895.84. This represents a 2.62% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Wolverine World Wide Stock Up 1.6%

Wolverine World Wide stock opened at $16.00 on Thursday. The company has a current ratio of 1.24, a quick ratio of 0.75 and a debt-to-equity ratio of 1.58. Wolverine World Wide, Inc. has a 1-year low of $9.58 and a 1-year high of $32.80. The company has a fifty day simple moving average of $25.93 and a 200 day simple moving average of $22.60. The company has a market cap of $1.31 billion, a P/E ratio of 15.69 and a beta of 1.83.

Wolverine World Wide (NYSE:WWW) last posted its quarterly earnings data on Wednesday, November 5th. The textile maker reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03. The company had revenue of $470.30 million during the quarter, compared to the consensus estimate of $461.46 million. Wolverine World Wide had a net margin of 4.73% and a return on equity of 31.99%. The company’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.28 EPS. Wolverine World Wide has set its FY 2025 guidance at 1.290-1.340 EPS. Research analysts anticipate that Wolverine World Wide, Inc. will post 1.23 earnings per share for the current fiscal year.

Wolverine World Wide Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $0.40 annualized dividend and a dividend yield of 2.5%. Wolverine World Wide’s payout ratio is 38.46%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Stifel Nicolaus set a $25.00 price objective on Wolverine World Wide in a report on Thursday, November 6th. Wall Street Zen cut shares of Wolverine World Wide from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Robert W. Baird decreased their price objective on shares of Wolverine World Wide from $35.00 to $23.00 and set an “outperform” rating for the company in a research report on Thursday, November 6th. Weiss Ratings restated a “hold (c)” rating on shares of Wolverine World Wide in a research note on Wednesday, October 8th. Finally, KeyCorp dropped their target price on shares of Wolverine World Wide from $32.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. One equities 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 stock has an average rating of “Moderate Buy” and an average target price of $23.29.

Hedge Funds Weigh In On Wolverine World Wide

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Wolverine World Wide by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 9,005,788 shares of the textile maker’s stock worth $125,271,000 after buying an additional 45,779 shares during the last quarter. Earnest Partners LLC lifted its position in Wolverine World Wide by 0.8% during the first quarter. Earnest Partners LLC now owns 5,270,775 shares of the textile maker’s stock worth $73,316,000 after acquiring an additional 41,857 shares during the last quarter. Callodine Capital Management LP lifted its position in Wolverine World Wide by 41.0% during the second quarter. Callodine Capital Management LP now owns 4,297,586 shares of the textile maker’s stock worth $77,700,000 after acquiring an additional 1,250,515 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Wolverine World Wide by 1.8% during the second quarter. Geode Capital Management LLC now owns 1,869,339 shares of the textile maker’s stock worth $33,802,000 after acquiring an additional 32,493 shares during the period. Finally, Bank of America Corp DE grew its position in shares of Wolverine World Wide by 8.6% in the second quarter. Bank of America Corp DE now owns 1,772,076 shares of the textile maker’s stock valued at $32,039,000 after purchasing an additional 139,913 shares during the last quarter. 90.25% of the stock is currently owned by institutional investors and hedge funds.

About Wolverine World Wide

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.