Wolverine World Wide, Inc. (NYSE:WWW) Holdings Lifted by Intech Investment Management LLC

Intech Investment Management LLC raised its position in Wolverine World Wide, Inc. (NYSE:WWW) by 5.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,412 shares of the textile maker’s stock after purchasing an additional 1,866 shares during the quarter. Intech Investment Management LLC’s holdings in Wolverine World Wide were worth $687,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Manning & Napier Advisors LLC bought a new position in Wolverine World Wide in the 2nd quarter worth approximately $7,098,000. Federated Hermes Inc. grew its stake in shares of Wolverine World Wide by 10,607.4% in the second 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. SG Americas Securities LLC acquired a new position in shares of Wolverine World Wide during the second quarter valued at $548,000. US Bancorp DE raised its stake in shares of Wolverine World Wide by 487.8% during the third quarter. US Bancorp DE now owns 36,776 shares of the textile maker’s stock valued at $641,000 after purchasing an additional 30,519 shares in the last quarter. Finally, Panagora Asset Management Inc. bought a new stake in shares of Wolverine World Wide during the second quarter valued at about $3,979,000. Institutional investors own 90.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. BNP Paribas upgraded shares of Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 target price for the company in a research report on Thursday, October 3rd. Argus upgraded shares of Wolverine World Wide to a “hold” rating in a research note on Friday, August 16th. Piper Sandler reissued an “overweight” rating and set a $18.00 target price on shares of Wolverine World Wide in a report on Friday, August 23rd. KeyCorp raised Wolverine World Wide from a “sector weight” rating to an “overweight” rating and set a $20.00 price target for the company in a research note on Thursday, August 8th. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $15.00 price objective on shares of Wolverine World Wide in a research note on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Wolverine World Wide has an average rating of “Moderate Buy” and an average price target of $18.00.

Insiders Place Their Bets

In other news, insider Amy M. Klimek sold 24,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $22.07, for a total transaction of $529,680.00. Following the sale, the insider now owns 20,238 shares in the company, valued at $446,652.66. The trade was a 54.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David A. Latchana sold 7,706 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $17.02, for a total transaction of $131,156.12. Following the completion of the transaction, the insider now directly owns 13,889 shares of the company’s stock, valued at $236,390.78. This represents a 35.68 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,920 shares of company stock worth $866,240. Company insiders own 2.28% of the company’s stock.

Wolverine World Wide Stock Performance

WWW opened at $23.19 on Friday. The business has a fifty day simple moving average of $18.48 and a 200-day simple moving average of $15.22. The firm has a market cap of $1.86 billion, a PE ratio of -26.06 and a beta of 1.78. The company has a quick ratio of 0.77, a current ratio of 1.23 and a debt-to-equity ratio of 1.91. Wolverine World Wide, Inc. has a fifty-two week low of $7.58 and a fifty-two week high of $24.09.

Wolverine World Wide Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 2nd will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 1.72%. Wolverine World Wide’s dividend payout ratio is currently -44.94%.

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.