State of Alaska Department of Revenue Reduces Holdings in Wolverine World Wide, Inc. (NYSE:WWW)

State of Alaska Department of Revenue decreased its position in shares of Wolverine World Wide, Inc. (NYSE:WWW) by 2.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 45,598 shares of the textile maker’s stock after selling 1,330 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.06% of Wolverine World Wide worth $794,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Pacer Advisors Inc. bought a new stake in Wolverine World Wide during the 2nd quarter valued at $64,295,000. Federated Hermes Inc. lifted its holdings in Wolverine World Wide by 10,607.4% during the 2nd quarter. Federated Hermes Inc. now owns 540,402 shares of the textile maker’s stock worth $7,306,000 after purchasing an additional 535,355 shares in the last quarter. Manning & Napier Advisors LLC bought a new position in Wolverine World Wide in the 2nd quarter worth about $7,098,000. Panagora Asset Management Inc. purchased a new position in Wolverine World Wide during the 2nd quarter valued at about $3,979,000. Finally, Lumbard & Kellner LLC bought a new stake in shares of Wolverine World Wide during the first quarter valued at about $3,211,000. Hedge funds and other institutional investors own 90.25% of the company’s stock.

Wolverine World Wide Price Performance

Shares of Wolverine World Wide stock opened at $16.06 on Thursday. The firm has a market capitalization of $1.28 billion, a PE ratio of -15.15 and a beta of 1.78. 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 $7.58 and a 12 month high of $18.51. The business’s 50-day moving average price is $15.65 and its 200-day moving average price is $13.93.

Wolverine World Wide (NYSE:WWW) last posted its quarterly earnings results on Wednesday, August 7th. The textile maker reported $0.15 EPS for the quarter, topping the consensus estimate of $0.10 by $0.05. The firm had revenue of $425.40 million for the quarter, compared to the consensus estimate 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 revenue was down 27.8% compared to the same quarter last year. During the same period last year, the firm posted $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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 2nd will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.49%. The ex-dividend date is Thursday, January 2nd. Wolverine World Wide’s dividend payout ratio is presently -37.74%.

Insider Buying and Selling at Wolverine World Wide

In other news, insider David A. Latchana sold 7,706 shares of Wolverine World Wide stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $17.02, for a total value of $131,156.12. Following the transaction, the insider now owns 13,889 shares in the company, valued at approximately $236,390.78. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on WWW. BNP Paribas upgraded shares of Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 price objective for the company in a research report on Thursday, October 3rd. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $15.00 price target on shares of Wolverine World Wide in a report on Thursday, October 31st. Piper Sandler reissued an “overweight” rating and set a $18.00 price objective on shares of Wolverine World Wide in a research note on Friday, August 23rd. Argus upgraded Wolverine World Wide to a “hold” rating in a research note on Friday, August 16th. Finally, 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. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $18.00.

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.