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

Wolverine World Wide, Inc. (NYSE:WWW) was the target of unusually large options trading on Tuesday. Stock traders purchased 4,215 call options on the stock. This is an increase of 610% compared to the average daily volume of 594 call options.

Wolverine World Wide Stock Performance

WWW traded up $0.13 on Tuesday, hitting $14.56. 328,262 shares of the company traded hands, compared to its average volume of 1,193,997. Wolverine World Wide has a 12-month low of $9.07 and a 12-month high of $24.64. The company has a 50 day moving average of $18.14 and a 200-day moving average of $19.01. The company has a quick ratio of 0.77, a current ratio of 1.29 and a debt-to-equity ratio of 1.79. The stock has a market capitalization of $1.18 billion, a PE ratio of 26.46 and a beta of 1.93.

Wolverine World Wide (NYSE:WWW) last released its quarterly earnings results on Wednesday, February 19th. The textile maker reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. Wolverine World Wide had a return on equity of 26.81% and a net margin of 2.73%. The business had revenue of $494.70 million during the quarter, compared to analysts’ expectations of $485.74 million. During the same quarter in the prior year, the business earned ($0.30) earnings per share. The company’s quarterly revenue was down 6.1% compared to the same quarter last year. Sell-side analysts anticipate that Wolverine World Wide will post 1.23 earnings per share for the current year.

Wolverine World Wide Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 1st will be paid 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 dividend yield of 2.75%. Wolverine World Wide’s dividend payout ratio (DPR) is 72.73%.

Analysts Set New Price Targets

WWW has been the subject of several recent analyst reports. Stifel Nicolaus upgraded Wolverine World Wide from a “hold” rating to a “buy” rating and boosted their target price for the stock from $21.00 to $29.00 in a research note on Wednesday, December 11th. Robert W. Baird lowered their target price on shares of Wolverine World Wide from $21.00 to $18.00 and set a “neutral” rating for the company in a report on Thursday, February 20th. StockNews.com lowered shares of Wolverine World Wide from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th. UBS Group decreased their price objective on shares of 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. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $23.00 target price on shares of Wolverine World Wide in a research report on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Wolverine World Wide presently has a consensus rating of “Moderate Buy” and an average price target of $21.50.

Institutional Investors Weigh In On Wolverine World Wide

A number of hedge funds have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new stake in shares of Wolverine World Wide in the 4th quarter valued at approximately $25,000. Signaturefd LLC raised its position in Wolverine World Wide by 88.8% in the fourth quarter. Signaturefd LLC now owns 1,450 shares of the textile maker’s stock worth $32,000 after acquiring an additional 682 shares in the last quarter. Natixis purchased a new position in Wolverine World Wide in the fourth quarter worth $41,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Wolverine World Wide in the fourth quarter valued at $64,000. Finally, KBC Group NV boosted its position in shares of Wolverine World Wide by 43.8% during the 4th quarter. KBC Group NV now owns 4,303 shares of the textile maker’s stock worth $96,000 after purchasing an additional 1,311 shares in the last quarter. Institutional investors and hedge funds own 90.25% of the company’s stock.

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.