Insider Buying: Wolverine World Wide (NYSE:WWW) Director Buys 25,000 Shares of Stock

Wolverine World Wide, Inc. (NYSE:WWW) Director Demonty Price purchased 25,000 shares of the business’s stock in a transaction on Friday, November 7th. The shares were bought at an average cost of $15.77 per share, for a total transaction of $394,250.00. Following the completion of the transaction, the director directly owned 75,000 shares in the company, valued at $1,182,750. This trade represents a 50.00% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link.

Wolverine World Wide Stock Performance

Shares of WWW stock traded up $0.45 on Monday, hitting $16.37. The company had a trading volume of 3,533,090 shares, compared to its average volume of 1,666,667. Wolverine World Wide, Inc. has a twelve month low of $9.58 and a twelve month high of $32.80. The company has a quick ratio of 0.75, a current ratio of 1.24 and a debt-to-equity ratio of 1.58. The firm has a market cap of $1.33 billion, a P/E ratio of 16.05 and a beta of 1.83. The company has a 50-day moving average price of $26.87 and a 200-day moving average price of $22.60.

Wolverine World Wide (NYSE:WWW) last announced its quarterly 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 company had revenue of $470.30 million during the quarter, compared to analysts’ expectations of $461.46 million. During the same period last year, the business earned $0.28 earnings per share. Wolverine World Wide’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. As a group, equities research analysts predict that Wolverine World Wide, Inc. will post 1.23 earnings per share for the current fiscal year.

Wolverine World Wide Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Friday, January 2nd will be paid 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 payout ratio is currently 38.46%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Wolverine World Wide by 0.5% in 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 shares of Wolverine World Wide by 0.8% in the first quarter. Earnest Partners LLC now owns 5,270,775 shares of the textile maker’s stock valued at $73,316,000 after acquiring an additional 41,857 shares in the last quarter. Callodine Capital Management LP boosted its stake in shares of Wolverine World Wide by 41.0% in 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 increased its position 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 purchasing an additional 32,493 shares in the last quarter. Finally, Bank of America Corp DE increased its position in shares of Wolverine World Wide by 8.6% during the second quarter. Bank of America Corp DE now owns 1,772,076 shares of the textile maker’s stock worth $32,039,000 after purchasing an additional 139,913 shares in the last quarter. 90.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on WWW. Wall Street Zen lowered shares of Wolverine World Wide from a “strong-buy” rating to a “buy” rating in a research report on Saturday. UBS Group lowered their target price on shares of Wolverine World Wide from $39.00 to $28.00 and set a “buy” rating on the stock in a research note on Thursday. Telsey Advisory Group restated a “market perform” rating and set a $18.00 target price (down from $29.00) on shares of Wolverine World Wide in a research report on Wednesday, November 5th. Robert W. Baird cut their price target on Wolverine World Wide from $35.00 to $23.00 and set an “outperform” rating for the company in a research note on Thursday. Finally, Stifel Nicolaus set a $25.00 price target on Wolverine World Wide in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $23.29.

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.