State of Wyoming Sells 10,734 Shares of Wolverine World Wide, Inc. $WWW

Key Points

• The State of Wyoming reduced its stake in Wolverine World Wide, Inc. by 51.2%, now holding 10,213 shares valued at $142,000.
• Recent insider activity includes substantial share sales by directors, with Brenda J. Lauderback and Nicholas T. Long both reducing their positions by over 20%.
• Wolverine World Wide has seen positive analyst sentiments, with upgrades leading to a consensus rating of "Buy" and a price target increase to around $32.00.

State of Wyoming reduced its stake in shares of Wolverine World Wide, Inc. (NYSE:WWW - Free Report) by 51.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,213 shares of the textile maker's stock after selling 10,734 shares during the quarter. State of Wyoming's holdings in Wolverine World Wide were worth $142,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Wolverine World Wide during the 1st quarter worth $608,000. Illinois Municipal Retirement Fund lifted its position in shares of Wolverine World Wide by 8.4% during the 1st quarter. Illinois Municipal Retirement Fund now owns 44,317 shares of the textile maker's stock worth $616,000 after buying an additional 3,441 shares during the last quarter. Jupiter Asset Management Ltd. bought a new stake in shares of Wolverine World Wide during the 1st quarter worth $3,440,000. Nuveen Asset Management LLC lifted its position in shares of 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 worth $13,949,000 after buying an additional 403,176 shares during the last quarter. Finally, Jump Financial LLC bought a new stake in shares of Wolverine World Wide during the 1st quarter worth $1,367,000. 90.25% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Wolverine World Wide

In other news, Director Nicholas T. Long sold 12,854 shares of the firm's stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $31.84, for a total transaction of $409,271.36. Following the completion of the transaction, the director directly owned 76,268 shares in the company, valued at $2,428,373.12. This trade represents a 14.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brenda J. Lauderback sold 12,854 shares of the firm's stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $32.14, for a total value of $413,127.56. Following the transaction, the director owned 48,675 shares of the company's stock, valued at $1,564,414.50. This trade represents a 20.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.28% of the stock is owned by company insiders.

Wolverine World Wide Trading Up 0.0%

Wolverine World Wide stock traded up $0.02 during trading hours on Friday, hitting $30.54. The stock had a trading volume of 1,626,492 shares, compared to its average volume of 1,521,695. The company has a quick ratio of 0.75, a current ratio of 1.24 and a debt-to-equity ratio of 1.58. The stock has a market cap of $2.48 billion, a price-to-earnings ratio of 29.94 and a beta of 1.80. Wolverine World Wide, Inc. has a one year low of $9.58 and a one year high of $32.80. The business's 50 day simple moving average is $26.18 and its 200-day simple moving average is $18.87.

Wolverine World Wide (NYSE:WWW - Get Free Report) last posted its earnings results on Wednesday, August 6th. The textile maker reported $0.35 EPS for the quarter, beating the consensus estimate of $0.23 by $0.12. Wolverine World Wide had a return on equity of 31.99% and a net margin of 4.73%.The firm had revenue of $474.20 million during the quarter, compared to the consensus estimate of $447.82 million. During the same period last year, the company earned $0.15 earnings per share. The business's quarterly revenue was up 11.5% on a year-over-year basis. On average, equities analysts predict that Wolverine World Wide, Inc. will post 1.23 EPS for the current fiscal year.

Wolverine World Wide Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Wednesday, October 1st will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Wednesday, October 1st. Wolverine World Wide's dividend payout ratio (DPR) is 39.22%.

Analysts Set New Price Targets

WWW has been the subject of several recent analyst reports. Stifel Nicolaus upped their price objective on Wolverine World Wide from $30.00 to $36.00 and gave the stock a "buy" rating in a research report on Wednesday, August 27th. KeyCorp restated an "overweight" rating and set a $32.00 price objective (up from $25.00) on shares of Wolverine World Wide in a research report on Thursday, August 7th. UBS Group upped their price objective on Wolverine World Wide from $30.00 to $36.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Argus upgraded Wolverine World Wide from a "hold" rating to a "buy" rating and set a $20.00 price objective for the company in a research report on Friday, May 16th. Finally, Wall Street Zen upgraded Wolverine World Wide from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $27.50.

Wolverine World Wide Company Profile

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.