Stock Traders Buy Large Volume of Wolverine World Wide Put Options (NYSE:WWW)

Wolverine World Wide, Inc. (NYSE:WWW - Get Free Report) was the recipient of unusually large options trading on Monday. Stock traders purchased 7,605 put options on the stock. This represents an increase of approximately 303% compared to the typical volume of 1,887 put options.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. FMR LLC increased its stake in Wolverine World Wide by 2.2% in the fourth quarter. FMR LLC now owns 11,766,527 shares of the textile maker's stock valued at $261,217,000 after acquiring an additional 249,456 shares during the period. Vanguard Group Inc. grew its holdings in shares of Wolverine World Wide by 0.5% during the first quarter. Vanguard Group Inc. now owns 9,005,788 shares of the textile maker's stock worth $125,271,000 after purchasing an additional 45,779 shares during the last quarter. Earnest Partners LLC increased its position in Wolverine World Wide by 0.8% in the 1st quarter. Earnest Partners LLC now owns 5,270,775 shares of the textile maker's stock valued at $73,316,000 after acquiring an additional 41,857 shares in the last quarter. Callodine Capital Management LP increased its holdings in shares of Wolverine World Wide by 60.2% in the first quarter. Callodine Capital Management LP now owns 3,047,071 shares of the textile maker's stock valued at $42,385,000 after purchasing an additional 1,145,455 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Wolverine World Wide by 70.0% during the 4th quarter. JPMorgan Chase & Co. now owns 2,425,858 shares of the textile maker's stock worth $53,854,000 after buying an additional 998,916 shares in the last quarter. Institutional investors and hedge funds own 90.25% of the company's stock.

Wall Street Analysts Forecast Growth

WWW has been the subject of a number of research reports. Telsey Advisory Group reiterated a "market perform" rating and set a $17.00 price target on shares of Wolverine World Wide in a research report on Friday, May 9th. Stifel Nicolaus dropped their price objective on Wolverine World Wide from $27.00 to $19.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. UBS Group boosted their target price on Wolverine World Wide from $18.00 to $22.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Argus raised Wolverine World Wide from a "hold" rating to a "buy" rating and set a $20.00 target price on the stock in a report on Friday, May 16th. Finally, Robert W. Baird lifted their price target on Wolverine World Wide from $15.00 to $20.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $19.75.

Wolverine World Wide Price Performance

Wolverine World Wide stock traded up $0.44 during midday trading on Monday, hitting $17.72. The company's stock had a trading volume of 197,518 shares, compared to its average volume of 1,449,323. The stock's 50-day moving average price is $14.87 and its 200-day moving average price is $17.67. The company has a market capitalization of $1.44 billion, a PE ratio of 32.22 and a beta of 1.71. The company has a quick ratio of 0.77, a current ratio of 1.29 and a debt-to-equity ratio of 1.79. Wolverine World Wide has a 12 month low of $9.58 and a 12 month high of $24.64.

Wolverine World Wide (NYSE:WWW - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The textile maker reported $0.18 EPS for the quarter, beating the consensus estimate of $0.11 by $0.07. The business had revenue of $412.30 million during the quarter, compared to the consensus estimate of $395.94 million. Wolverine World Wide had a net margin of 2.73% and a return on equity of 26.81%. The firm's quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.11 EPS. Analysts anticipate that Wolverine World Wide will post 1.23 earnings per share for the current fiscal year.

Wolverine World Wide Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Tuesday, July 1st will be issued a dividend of $0.10 per share. The ex-dividend date is Tuesday, July 1st. This represents a $0.40 annualized dividend and a yield of 2.26%. Wolverine World Wide's dividend payout ratio (DPR) is presently 45.98%.

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.

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