Wolverine World Wide (NYSE:WWW) Director Jack Boyle Buys 6,250 Shares of Stock

Wolverine World Wide, Inc. (NYSE:WWW) Director Jack Boyle acquired 6,250 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The shares were bought at an average cost of $15.77 per share, for a total transaction of $98,562.50. Following the purchase, the director owned 6,250 shares of the company’s stock, valued at approximately $98,562.50. The trade was a ? increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Wolverine World Wide Trading Up 2.8%

Wolverine World Wide stock opened at $16.37 on Tuesday. The stock has a 50-day moving average price of $26.55 and a 200 day moving average price of $22.62. Wolverine World Wide, Inc. has a 52 week low of $9.58 and a 52 week high of $32.80. The stock has a market cap of $1.33 billion, a PE ratio of 16.05 and a beta of 1.83. 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 (NYSE:WWW) last released its quarterly earnings results on Wednesday, November 5th. The textile maker reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.03. The company had revenue of $470.30 million for the quarter, compared to analysts’ expectations of $461.46 million. Wolverine World Wide had a net margin of 4.73% and a return on equity of 31.99%. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period last year, the company earned $0.28 EPS. Wolverine World Wide has set its FY 2025 guidance at 1.290-1.340 EPS. Equities research analysts predict that Wolverine World Wide, Inc. will post 1.23 earnings per share for the current fiscal year.

Wolverine World Wide Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms recently commented on WWW. Telsey Advisory Group reiterated a “market perform” rating and issued a $18.00 target price (down from $29.00) on shares of Wolverine World Wide in a research note on Wednesday, November 5th. Zacks Research downgraded shares of Wolverine World Wide from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 27th. KeyCorp decreased 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 research report on Thursday, November 6th. Piper Sandler reaffirmed an “overweight” rating and set a $25.00 price target (up previously from $20.00) on shares of Wolverine World Wide in a research report on Tuesday, August 5th. Finally, Stifel Nicolaus set a $25.00 price target on shares of Wolverine World Wide in a report on Thursday. One investment 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 company’s stock. Based on data from MarketBeat, Wolverine World Wide presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.29.

Institutional Trading of Wolverine World Wide

A number of hedge funds have recently made changes to their positions in the company. Jupiter Asset Management Ltd. bought a new stake in shares of Wolverine World Wide in the 1st quarter worth about $3,440,000. Intech Investment Management LLC raised its stake in Wolverine World Wide by 234.3% during the first quarter. Intech Investment Management LLC now owns 237,841 shares of the textile maker’s stock valued at $3,308,000 after buying an additional 166,692 shares in the last quarter. Jump Financial LLC bought a new position in Wolverine World Wide during the 1st quarter worth approximately $1,367,000. Northern Trust Corp grew its position in shares of Wolverine World Wide by 1.1% in the 1st quarter. Northern Trust Corp now owns 1,017,233 shares of the textile maker’s stock worth $14,150,000 after acquiring an additional 11,398 shares in the last quarter. Finally, Callodine Capital Management LP increased its holdings in shares of Wolverine World Wide by 60.2% in the 1st quarter. Callodine Capital Management LP now owns 3,047,071 shares of the textile maker’s stock valued at $42,385,000 after acquiring an additional 1,145,455 shares during the last quarter. Hedge funds and other institutional investors own 90.25% of the company’s stock.

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.