Insider Selling: Wolverine World Wide, Inc. (WWW) Insider Sells 38,441 Shares of Stock

Wolverine World Wide, Inc. (NYSE:WWW) insider Michael Jeppesen sold 38,441 shares of Wolverine World Wide stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $35.72, for a total transaction of $1,373,112.52. Following the transaction, the insider now owns 67,177 shares in the company, valued at $2,399,562.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Shares of NYSE:WWW opened at $36.17 on Thursday. The firm has a market cap of $3.41 billion, a price-to-earnings ratio of 16.67, a P/E/G ratio of 1.56 and a beta of 0.91. Wolverine World Wide, Inc. has a 12-month low of $27.93 and a 12-month high of $39.77. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.83 and a quick ratio of 1.75.

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Wolverine World Wide (NYSE:WWW) last issued its earnings results on Wednesday, February 20th. The textile maker reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. The company had revenue of $579.60 million during the quarter, compared to analyst estimates of $584.55 million. Wolverine World Wide had a net margin of 8.90% and a return on equity of 21.00%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the business posted $0.41 EPS. Equities analysts forecast that Wolverine World Wide, Inc. will post 2.3 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 1st will be paid a dividend of $0.10 per share. The ex-dividend date is Friday, March 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.11%. This is a positive change from Wolverine World Wide’s previous quarterly dividend of $0.08. Wolverine World Wide’s dividend payout ratio (DPR) is 14.75%.

Several large investors have recently modified their holdings of the business. Amalgamated Bank boosted its stake in shares of Wolverine World Wide by 127.5% during the 4th quarter. Amalgamated Bank now owns 14,519 shares of the textile maker’s stock valued at $463,000 after buying an additional 8,138 shares during the period. Public Employees Retirement System of Ohio boosted its stake in shares of Wolverine World Wide by 85.9% during the 4th quarter. Public Employees Retirement System of Ohio now owns 98,391 shares of the textile maker’s stock valued at $3,138,000 after buying an additional 45,457 shares during the period. BT Wealth Management LLC acquired a new stake in shares of Wolverine World Wide during the 4th quarter valued at $268,000. Macquarie Group Ltd. boosted its stake in shares of Wolverine World Wide by 2.3% during the 4th quarter. Macquarie Group Ltd. now owns 1,248,518 shares of the textile maker’s stock valued at $39,815,000 after buying an additional 28,554 shares during the period. Finally, Phocas Financial Corp. boosted its stake in shares of Wolverine World Wide by 65.6% during the 4th quarter. Phocas Financial Corp. now owns 299,336 shares of the textile maker’s stock valued at $9,546,000 after buying an additional 118,545 shares during the period. 92.82% of the stock is owned by institutional investors.

Several equities analysts have weighed in on WWW shares. ValuEngine upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating in a research report on Wednesday, October 31st. Pivotal Research reiterated a “hold” rating and set a $37.00 price objective on shares of Wolverine World Wide in a research report on Monday, November 5th. Telsey Advisory Group lowered their price objective on shares of Wolverine World Wide from $39.00 to $35.00 and set a “market perform” rating on the stock in a research report on Thursday, November 8th. Piper Jaffray Companies set a $38.00 price objective on shares of Wolverine World Wide and gave the stock a “hold” rating in a research report on Thursday, November 8th. Finally, Robert W. Baird lowered their price objective on shares of Wolverine World Wide from $43.00 to $40.00 and set an “outperform” rating on the stock in a research report on Thursday, November 8th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $40.36.

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Wolverine World Wide Company Profile

Wolverine World Wide, Inc designs, manufactures, sources, markets, licenses, and distributes footwear, apparel, and accessories. The company operates through four segments: Wolverine Outdoor & Lifestyle Group, Wolverine Boston Group, Wolverine Heritage Group, and Wolverine Multi-Brand Group. It offers casual footwear and apparel; performance outdoor and athletic footwear and apparel; children's footwear; industrial work boots and apparel; and uniform shoes and boots.

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