Stock Traders Purchase High Volume of Put Options on Wolverine World Wide (NYSE:WWW)

Wolverine World Wide, Inc. (NYSE:WWW) was the target of some unusual options trading on Monday. Stock traders purchased 7,605 put options on the company. This represents an increase of 303% compared to the average daily volume of 1,887 put options.

Wall Street Analyst Weigh In

A number of brokerages have commented on WWW. Argus raised shares of Wolverine World Wide from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a report on Friday, May 16th. Piper Sandler decreased their target price on Wolverine World Wide from $27.00 to $18.00 and set an “overweight” rating on the stock in a report on Friday, April 11th. Stifel Nicolaus cut their price target on Wolverine World Wide from $27.00 to $19.00 and set a “buy” rating for the company in a report on Thursday, April 10th. UBS Group raised their price objective on Wolverine World Wide from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Friday, May 9th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $17.00 price objective on shares of Wolverine World Wide in a research report on Friday, May 9th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $19.75.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in WWW. SBI Securities Co. Ltd. purchased a new stake in Wolverine World Wide during the fourth quarter valued at approximately $25,000. Signaturefd LLC raised its holdings in Wolverine World Wide by 88.8% during the 4th quarter. Signaturefd LLC now owns 1,450 shares of the textile maker’s stock valued at $32,000 after buying an additional 682 shares during the period. Natixis bought a new stake in Wolverine World Wide in the fourth quarter worth $41,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Wolverine World Wide during the fourth quarter worth $64,000. Finally, Smartleaf Asset Management LLC increased its position in Wolverine World Wide by 375.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 5,552 shares of the textile maker’s stock valued at $122,000 after acquiring an additional 4,384 shares during the last quarter. Institutional investors own 90.25% of the company’s stock.

Wolverine World Wide Stock Performance

WWW opened at $17.89 on Tuesday. The company has a fifty day moving average of $15.03 and a 200 day moving average of $17.63. Wolverine World Wide has a fifty-two week low of $9.58 and a fifty-two week high of $24.64. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of 32.52 and a beta of 1.71. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.77 and a current ratio of 1.29.

Wolverine World Wide (NYSE:WWW) last announced its quarterly earnings results on Thursday, May 8th. The textile maker reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.07. Wolverine World Wide had a return on equity of 26.81% and a net margin of 2.73%. The company had revenue of $412.30 million during the quarter, compared to analyst estimates of $395.94 million. During the same period in the prior year, the company earned $0.11 earnings per share. The firm’s revenue was up 4.4% on a year-over-year basis. As a group, sell-side analysts forecast 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 Friday, August 1st. Stockholders of record on Tuesday, July 1st will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Tuesday, July 1st. Wolverine World Wide’s dividend payout ratio is 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.