Wolverine World Wide Sees Unusually High Options Volume (NYSE:WWW)

Key Points

• Wolverine World Wide experienced a significant surge in options trading, with 5,505 call options purchased, representing a 137% increase over its average volume.
• The company reported a quarterly earnings per share (EPS) of $0.18, surpassing analysts' expectations of $0.11, and a revenue of $412.30 million, marking a 4.4% year-over-year increase.
• Wolverine World Wide announced a quarterly dividend of $0.10 per share, with an annualized dividend yield of 1.8%, set to be paid on November 3rd.

Wolverine World Wide, Inc. (NYSE:WWW - Get Free Report) saw unusually large options trading on Monday. Investors bought 5,505 call options on the company. Thisisanincreaseof137% compared to the average volume of 2,319 call options.

Wolverine World Wide Price Performance

Shares of NYSE WWW traded up $0.41 on Monday, hitting $22.57. The company's stock had a trading volume of 487,737 shares, compared to its average volume of 1,450,528. Wolverine World Wide has a 12-month low of $9.58 and a 12-month high of $24.64. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of 25.93 and a beta of 1.74. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.26 and a quick ratio of 0.77. The stock has a 50 day moving average of $19.19 and a 200-day moving average of $16.94.

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, topping the consensus estimate of $0.11 by $0.07. Wolverine World Wide had a net margin of 4.15% and a return on equity of 28.74%. The firm had revenue of $412.30 million during the quarter, compared to analyst estimates of $395.94 million. During the same quarter in the prior year, the business posted $0.11 earnings per share. Wolverine World Wide's revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, research analysts predict that Wolverine World Wide will post 1.23 EPS for the current year.

Wolverine World Wide Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Wednesday, October 1st will be paid a $0.10 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $0.40 annualized dividend and a dividend yield of 1.8%. Wolverine World Wide's dividend payout ratio is 45.98%.

Wall Street Analyst Weigh In

Several research firms recently commented on WWW. Stifel Nicolaus dropped their price target on Wolverine World Wide from $27.00 to $19.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. UBS Group set a $30.00 price target on Wolverine World Wide and gave the company a "buy" rating in a report on Monday, July 28th. Argus raised shares of Wolverine World Wide from a "hold" rating to a "buy" rating and set a $20.00 price objective for the company in a research note on Friday, May 16th. Baird R W raised shares of Wolverine World Wide from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 21st. Finally, Robert W. Baird upped their price target on Wolverine World Wide from $15.00 to $20.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Wolverine World Wide has an average rating of "Moderate Buy" and an average price target of $20.75.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. bought a new position in shares of Wolverine World Wide in the 1st quarter worth about $608,000. JPMorgan Chase & Co. lifted its position in shares of Wolverine World Wide by 70.0% in 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 during the last quarter. Illinois Municipal Retirement Fund increased its holdings in shares of Wolverine World Wide by 8.4% in the 1st quarter. Illinois Municipal Retirement Fund now owns 44,317 shares of the textile maker's stock worth $616,000 after acquiring an additional 3,441 shares during the period. Nuveen Asset Management LLC increased its holdings in shares of Wolverine World Wide by 179.1% in the 4th quarter. Nuveen Asset Management LLC now owns 628,338 shares of the textile maker's stock worth $13,949,000 after acquiring an additional 403,176 shares during the period. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Wolverine World Wide in the 4th quarter worth about $204,000. 90.25% of the stock is currently owned by institutional investors.

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.

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