Sei Investments Co. Trims Stock Holdings in Wolverine World Wide, Inc. (NYSE:WWW)

Sei Investments Co. lowered its stake in shares of Wolverine World Wide, Inc. (NYSE:WWW) by 4.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 657,723 shares of the textile maker’s stock after selling 30,807 shares during the period. Sei Investments Co.’s holdings in Wolverine World Wide were worth $8,892,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Capstone Investment Advisors LLC bought a new position in Wolverine World Wide in the 1st quarter worth about $1,089,000. Manning & Napier Advisors LLC bought a new position in shares of Wolverine World Wide in the second quarter valued at approximately $7,098,000. Federated Hermes Inc. grew its stake in Wolverine World Wide by 10,607.4% during the second quarter. Federated Hermes Inc. now owns 540,402 shares of the textile maker’s stock valued at $7,306,000 after acquiring an additional 535,355 shares in the last quarter. Intrinsic Edge Capital Management LLC bought a new stake in Wolverine World Wide during the 4th quarter worth approximately $2,563,000. Finally, SG Americas Securities LLC purchased a new stake in Wolverine World Wide in the 2nd quarter worth approximately $548,000. 90.25% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

WWW has been the subject of a number of recent analyst reports. Robert W. Baird boosted their price target on shares of Wolverine World Wide from $13.00 to $15.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Argus upgraded Wolverine World Wide to a “hold” rating in a research note on Friday, August 16th. UBS Group upgraded Wolverine World Wide from a “neutral” rating to a “buy” rating and lifted their price target for the company from $13.00 to $20.00 in a research report on Friday, July 19th. Piper Sandler restated an “overweight” rating and issued a $18.00 price objective on shares of Wolverine World Wide in a research report on Friday, August 23rd. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $14.00 target price on shares of Wolverine World Wide in a research note on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Wolverine World Wide presently has an average rating of “Moderate Buy” and an average target price of $17.17.

Wolverine World Wide Price Performance

Shares of Wolverine World Wide stock opened at $17.51 on Friday. The firm has a market capitalization of $1.40 billion, a PE ratio of -18.83 and a beta of 1.76. The company has a current ratio of 1.19, a quick ratio of 0.74 and a debt-to-equity ratio of 2.14. Wolverine World Wide, Inc. has a 12 month low of $7.21 and a 12 month high of $17.57. The business’s 50-day moving average price is $14.02 and its 200-day moving average price is $12.68.

Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings results on Wednesday, August 7th. The textile maker reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.05. The business had revenue of $425.40 million for the quarter, compared to analysts’ expectations of $411.20 million. Wolverine World Wide had a negative net margin of 4.42% and a negative return on equity of 0.34%. The business’s quarterly revenue was down 27.8% on a year-over-year basis. During the same period last year, the business earned $0.19 earnings per share. Sell-side analysts forecast that Wolverine World Wide, Inc. will post 0.85 EPS for the current fiscal year.

Wolverine World Wide Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Tuesday, October 1st will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.28%. The ex-dividend date is Tuesday, October 1st. Wolverine World Wide’s dividend payout ratio is presently -43.01%.

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.