Wolverine World Wide Sees Unusually Large Options Volume (WWW)

Wolverine World Wide, Inc. (NYSE:WWW) was the recipient of unusually large options trading on Friday. Traders acquired 1,148 put options on the company. This is an increase of approximately 1,752% compared to the average daily volume of 62 put options.

In other news, Director Joseph R. Gromek sold 18,928 shares of the firm’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $29.14, for a total value of $551,561.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael Jeppesen sold 11,807 shares of the firm’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $27.97, for a total value of $330,241.79. The disclosure for this sale can be found here. 5.65% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Wolverine World Wide by 50.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,883 shares of the textile maker’s stock valued at $156,000 after buying an additional 1,646 shares during the last quarter. Public Employees Retirement Association of Colorado purchased a new position in shares of Wolverine World Wide during the 4th quarter valued at about $171,000. Community Financial Services Group LLC purchased a new position in shares of Wolverine World Wide during the 4th quarter valued at about $212,000. Advisory Services Network LLC raised its stake in shares of Wolverine World Wide by 5.3% during the 2nd quarter. Advisory Services Network LLC now owns 8,336 shares of the textile maker’s stock valued at $234,000 after buying an additional 421 shares during the last quarter. Finally, Shelton Capital Management purchased a new position in shares of Wolverine World Wide during the 2nd quarter valued at about $265,000. Institutional investors and hedge funds own 92.26% of the company’s stock.

WWW has been the subject of a number of research reports. Zacks Investment Research cut Wolverine World Wide from a “buy” rating to a “hold” rating in a research report on Saturday, January 6th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $26.00 price target on shares of Wolverine World Wide in a research report on Wednesday, November 8th. Pivotal Research cut Wolverine World Wide from a “buy” rating to a “hold” rating and set a $33.00 price target for the company. in a research report on Friday. TheStreet cut Wolverine World Wide from a “b” rating to a “c+” rating in a research report on Wednesday, November 8th. Finally, Stifel Nicolaus set a $34.00 price target on Wolverine World Wide and gave the stock a “buy” rating in a research report on Saturday, December 16th. Ten analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $27.25.

Shares of Wolverine World Wide (NYSE WWW) opened at $29.82 on Monday. Wolverine World Wide has a 52-week low of $23.34 and a 52-week high of $33.82. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.06 and a current ratio of 3.09. The company has a market capitalization of $2,853.21, a PE ratio of 49.70, a price-to-earnings-growth ratio of 1.24 and a beta of 0.92.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Shareholders of record on Monday, April 2nd will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, March 29th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.07%. This is a positive change from Wolverine World Wide’s previous quarterly dividend of $0.06. Wolverine World Wide’s dividend payout ratio (DPR) is presently 40.00%.

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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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