Traders Buy Shares of Wolverine World Wide (WWW) on Weakness

Traders purchased shares of Wolverine World Wide, Inc. (NYSE:WWW) on weakness during trading on Wednesday. $26.16 million flowed into the stock on the tick-up and $5.65 million flowed out of the stock on the tick-down, for a money net flow of $20.51 million into the stock. Of all companies tracked, Wolverine World Wide had the 29th highest net in-flow for the day. Wolverine World Wide traded down ($0.88) for the day and closed at $31.62

A number of brokerages have recently commented on WWW. Buckingham Research upped their price objective on shares of Wolverine World Wide from $24.00 to $28.00 and gave the company a “neutral” rating in a research report on Thursday, November 9th. Stifel Nicolaus set a $34.00 price objective on shares of Wolverine World Wide and gave the company a “buy” rating in a research report on Saturday, December 16th. Telsey Advisory Group upped their price objective on shares of Wolverine World Wide from $29.00 to $30.00 and gave the company a “market perform” rating in a research report on Thursday, November 9th. Robert W. Baird reaffirmed a “buy” rating and set a $32.00 price objective on shares of Wolverine World Wide in a research report on Sunday, September 17th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and set a $26.00 price objective on shares of Wolverine World Wide in a research report on Wednesday, November 8th. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Wolverine World Wide currently has a consensus rating of “Hold” and an average price target of $27.25.

The company has a market capitalization of $3,000.00, a P/E ratio of 53.22, a price-to-earnings-growth ratio of 1.38 and a beta of 0.95. The company has a current ratio of 3.09, a quick ratio of 2.06 and a debt-to-equity ratio of 0.74.

Wolverine World Wide (NYSE:WWW) last posted its earnings results on Wednesday, November 8th. The textile maker reported $0.43 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.06. The business had revenue of $581.30 million for the quarter, compared to analysts’ expectations of $552.36 million. Wolverine World Wide had a net margin of 2.35% and a return on equity of 15.25%. The firm’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.49 earnings per share. equities research analysts expect that Wolverine World Wide, Inc. will post 1.64 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Tuesday, January 2nd will be paid a $0.06 dividend. The ex-dividend date is Friday, December 29th. This represents a $0.24 dividend on an annualized basis and a yield of 0.76%. Wolverine World Wide’s payout ratio is currently 40.68%.

In other Wolverine World Wide news, insider Michael Jeppesen sold 11,807 shares of the company’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $27.97, for a total transaction of $330,241.79. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Joseph R. Gromek sold 18,928 shares of the company’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $29.14, for a total transaction of $551,561.92. The disclosure for this sale can be found here. Insiders own 5.65% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. AXA bought a new stake in Wolverine World Wide during the third quarter worth about $7,155,000. California Public Employees Retirement System grew its stake in Wolverine World Wide by 5.0% during the third quarter. California Public Employees Retirement System now owns 201,270 shares of the textile maker’s stock worth $5,807,000 after buying an additional 9,570 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in Wolverine World Wide by 8.2% during the third quarter. Janney Montgomery Scott LLC now owns 24,832 shares of the textile maker’s stock worth $716,000 after buying an additional 1,873 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in Wolverine World Wide during the third quarter worth about $408,000. Finally, PEAK6 Investments L.P. grew its stake in Wolverine World Wide by 396.4% during the third quarter. PEAK6 Investments L.P. now owns 13,189 shares of the textile maker’s stock worth $381,000 after buying an additional 10,532 shares during the last quarter. 92.48% of the stock is currently owned by hedge funds and other institutional investors.

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Wolverine World Wide Company Profile

Wolverine World Wide, Inc is a designer, manufacturer and marketer of a range of casual footwear and apparel, outdoor and athletic footwear and apparel, children’s footwear, industrial work boots and apparel, and uniform shoes and boots. It operates in four segments: Wolverine Outdoor & Lifestyle Group, which offers Merrell footwear and apparel, Cat footwear, Hush Puppies footwear and apparel, and Chaco footwear; Wolverine Boston Group, which offers Sperry footwear and apparel, Saucony footwear and apparel, and Keds footwear and apparel; Wolverine Heritage Group, which offers Wolverine footwear and apparel, Bates uniform footwear, Harley-Davidson footwear and HyTest safety footwear, and Wolverine Multi-Brand Group, which offers Stride Rite footwear and apparel, and its multi-brand consumer-direct businesses.

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