Wolverine World Wide Target of Unusually Large Options Trading (NYSE:WWW)

Wolverine World Wide, Inc. (NYSE:WWW) was the target of unusually large options trading activity on Tuesday. Traders bought 4,215 call options on the stock. This represents an increase of 610% compared to the typical daily volume of 594 call options.

Wolverine World Wide Stock Up 0.8 %

Shares of NYSE:WWW opened at $14.54 on Wednesday. The business’s 50-day moving average is $17.97 and its 200-day moving average is $19.02. Wolverine World Wide has a 1 year low of $9.07 and a 1 year high of $24.64. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of 26.44 and a beta of 1.93. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.29 and a quick ratio of 0.77.

Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings results on Wednesday, February 19th. The textile maker reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. The firm had revenue of $494.70 million for the quarter, compared to analyst estimates of $485.74 million. Wolverine World Wide had a return on equity of 26.81% and a net margin of 2.73%. The company’s revenue was down 6.1% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.30) earnings per share. Equities research analysts predict that Wolverine World Wide will post 1.23 earnings per share for the current year.

Wolverine World Wide Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 1st will be paid a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.40 annualized dividend and a dividend yield of 2.75%. Wolverine World Wide’s dividend payout ratio is presently 72.73%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Telsey Advisory Group restated a “market perform” rating and issued a $23.00 price target on shares of Wolverine World Wide in a research report on Wednesday, February 19th. StockNews.com downgraded Wolverine World Wide from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th. Robert W. Baird lowered their target price on Wolverine World Wide from $21.00 to $18.00 and set a “neutral” rating for the company in a research report on Thursday, February 20th. UBS Group reduced their price target on Wolverine World Wide from $29.00 to $26.00 and set a “buy” rating on the stock in a research report on Thursday, February 20th. Finally, Stifel Nicolaus upgraded Wolverine World Wide from a “hold” rating to a “buy” rating and raised their price objective for the stock from $21.00 to $29.00 in a research report on Wednesday, December 11th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Wolverine World Wide has a consensus rating of “Moderate Buy” and an average target price of $21.50.

Institutional Trading of Wolverine World Wide

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pacer Advisors Inc. acquired a new stake in Wolverine World Wide in the fourth quarter valued at approximately $64,943,000. JPMorgan Chase & Co. lifted its holdings in shares of Wolverine World Wide by 1,263.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,426,942 shares of the textile maker’s stock worth $24,857,000 after purchasing an additional 1,322,254 shares in the last quarter. Capital Research Global Investors acquired a new stake in Wolverine World Wide in the 4th quarter valued at $13,943,000. Nuveen Asset Management LLC increased its stake in Wolverine World Wide by 179.1% during the 4th quarter. Nuveen Asset Management LLC now owns 628,338 shares of the textile maker’s stock valued at $13,949,000 after purchasing an additional 403,176 shares in the last quarter. Finally, First Trust Advisors LP bought a new stake in Wolverine World Wide during the 4th quarter valued at $7,862,000. 90.25% of the stock is owned by institutional investors.

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.