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

Investors purchased shares of Wolverine World Wide, Inc. (NYSE:WWW) on weakness during trading hours 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 equities 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 research firms have recently issued reports on WWW. Stifel Nicolaus set a $34.00 price target on shares of Wolverine World Wide and gave the company a “buy” rating in a report on Saturday, December 16th. TheStreet lowered shares of Wolverine World Wide from a “b” rating to a “c+” rating in a report on Wednesday, November 8th. 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 note on Thursday, November 9th. 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 note on Thursday, November 9th. Finally, Piper Jaffray Companies reiterated a “hold” rating and issued a $26.00 price objective on shares of Wolverine World Wide in a research note on Wednesday, November 8th. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $27.25.

The firm has a market cap of $3,050.30, a P/E ratio of 52.70, a price-to-earnings-growth ratio of 1.36 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 released its quarterly earnings data on Wednesday, November 8th. The textile maker reported $0.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.06. The firm had revenue of $581.30 million for the quarter, compared to analyst estimates of $552.36 million. Wolverine World Wide had a net margin of 2.35% and a return on equity of 15.25%. The company’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.49 EPS. analysts expect that Wolverine World Wide, Inc. will post 1.64 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Tuesday, January 2nd will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, December 29th. This represents a $0.24 annualized dividend and a dividend yield of 0.76%. Wolverine World Wide’s dividend payout ratio (DPR) is 40.00%.

In other news, Director Joseph R. Gromek sold 18,928 shares of the stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $29.14, for a total transaction of $551,561.92. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Michael Jeppesen sold 11,807 shares of the stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $27.97, for a total transaction of $330,241.79. The disclosure for this sale can be found here. Corporate insiders own 5.65% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in WWW. Bank of Montreal Can increased its stake in shares of Wolverine World Wide by 1.3% during the 2nd quarter. Bank of Montreal Can now owns 4,904 shares of the textile maker’s stock worth $138,000 after purchasing an additional 64 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of Wolverine World Wide by 4.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 605,766 shares of the textile maker’s stock worth $16,968,000 after purchasing an additional 24,390 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Wolverine World Wide by 7.4% during the 2nd quarter. Legal & General Group Plc now owns 226,588 shares of the textile maker’s stock worth $6,344,000 after purchasing an additional 15,645 shares during the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of Wolverine World Wide by 68.6% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 33,467 shares of the textile maker’s stock worth $937,000 after buying an additional 13,620 shares during the period. Finally, State Board of Administration of Florida Retirement System boosted its holdings in shares of Wolverine World Wide by 17.3% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 92,997 shares of the textile maker’s stock worth $2,605,000 after buying an additional 13,725 shares during the period. Institutional investors own 92.48% of the company’s stock.

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About Wolverine World Wide

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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