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

Wolverine World Wide, Inc. (NYSE:WWW) was the target of some unusual options trading on Tuesday. Stock traders purchased 4,215 call options on the company. This represents an increase of approximately 610% compared to the typical volume of 594 call options.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in WWW. Savant Capital LLC bought a new position in Wolverine World Wide during the fourth quarter valued at approximately $205,000. Pacer Advisors Inc. bought a new position in Wolverine World Wide during the 4th quarter valued at about $64,943,000. JPMorgan Chase & Co. raised its position in 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 during the period. XTX Topco Ltd raised its position in Wolverine World Wide by 338.6% in the 3rd quarter. XTX Topco Ltd now owns 47,346 shares of the textile maker’s stock worth $825,000 after purchasing an additional 36,551 shares during the period. Finally, Amundi lifted its stake in Wolverine World Wide by 161.5% in the fourth quarter. Amundi now owns 47,074 shares of the textile maker’s stock worth $1,067,000 after purchasing an additional 29,072 shares during the last quarter. 90.25% of the stock is currently owned by institutional investors.

Wolverine World Wide Trading Up 0.8 %

WWW opened at $14.54 on Wednesday. The business has a 50 day moving average of $17.97 and a 200-day moving average of $19.02. The stock has a market cap of $1.18 billion, a PE ratio of 26.44 and a beta of 1.93. 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 52 week low of $9.07 and a 52 week high of $24.64.

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

Wolverine World Wide Dividend Announcement

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

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.