Wolverine World Wide, Inc. (WWW) Insider Michael Jeppesen Sells 49,151 Shares of Stock
Wolverine World Wide, Inc. (NYSE:WWW) insider Michael Jeppesen sold 49,151 shares of the company’s stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $37.77, for a total value of $1,856,433.27. Following the completion of the sale, the insider now owns 156,470 shares of the company’s stock, valued at $5,909,871.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Wolverine World Wide stock traded up $0.48 during mid-day trading on Friday, hitting $38.24. The company’s stock had a trading volume of 317,994 shares, compared to its average volume of 734,416. The firm has a market capitalization of $3.57 billion, a price-to-earnings ratio of 23.32, a PEG ratio of 1.76 and a beta of 0.98. Wolverine World Wide, Inc. has a 1 year low of $25.25 and a 1 year high of $38.52. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.86 and a current ratio of 2.65.
Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings data on Wednesday, August 8th. The textile maker reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.08. The company had revenue of $566.90 million during the quarter, compared to analyst estimates of $569.24 million. Wolverine World Wide had a return on equity of 18.58% and a net margin of 2.83%. The firm’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.43 earnings per share. analysts forecast that Wolverine World Wide, Inc. will post 2.13 EPS for the current year.
Institutional investors have recently modified their holdings of the stock. Whittier Trust Co. grew its position in Wolverine World Wide by 17,858.3% in the second quarter. Whittier Trust Co. now owns 41,304 shares of the textile maker’s stock worth $1,076,000 after acquiring an additional 41,074 shares during the period. Natixis Advisors L.P. acquired a new position in Wolverine World Wide during the first quarter worth $383,000. Millennium Management LLC lifted its stake in Wolverine World Wide by 92.1% during the fourth quarter. Millennium Management LLC now owns 33,336 shares of the textile maker’s stock worth $1,063,000 after purchasing an additional 15,986 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in Wolverine World Wide by 7.7% during the first quarter. Thrivent Financial for Lutherans now owns 64,643 shares of the textile maker’s stock worth $1,868,000 after purchasing an additional 4,609 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Wolverine World Wide by 1.8% during the first quarter. Principal Financial Group Inc. now owns 745,972 shares of the textile maker’s stock worth $21,559,000 after purchasing an additional 13,073 shares in the last quarter. Institutional investors own 94.99% of the company’s stock.
WWW has been the subject of a number of analyst reports. ValuEngine upgraded Wolverine World Wide from a “hold” rating to a “buy” rating in a research report on Tuesday, June 12th. TheStreet upgraded Wolverine World Wide from a “c” rating to a “b-” rating in a research report on Thursday, May 10th. Susquehanna Bancshares upgraded Wolverine World Wide from a “neutral” rating to a “positive” rating and upped their price target for the company from $29.00 to $41.00 in a research report on Wednesday, August 1st. Pivotal Research set a $33.00 price target on Wolverine World Wide and gave the company a “hold” rating in a research report on Wednesday, May 2nd. Finally, DA Davidson restated a “buy” rating on shares of Wolverine World Wide in a research report on Wednesday, May 9th. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $38.04.
About Wolverine World Wide
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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