Fmr LLC Reduces Position in Wolverine World Wide, Inc. (NYSE:WWW)

Fmr LLC decreased its position in Wolverine World Wide, Inc. (NYSE:WWW) by 0.9% in the third quarter, HoldingsChannel.com reports. The fund owned 11,517,071 shares of the textile maker’s stock after selling 109,428 shares during the period. Fmr LLC owned about 0.14% of Wolverine World Wide worth $200,627,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Future Financial Wealth Managment LLC purchased a new position in Wolverine World Wide during the third quarter valued at approximately $35,000. Cedar Mountain Advisors LLC purchased a new position in shares of Wolverine World Wide during the 3rd quarter valued at approximately $70,000. GAMMA Investing LLC lifted its holdings in Wolverine World Wide by 15.9% during the third quarter. GAMMA Investing LLC now owns 4,494 shares of the textile maker’s stock valued at $78,000 after purchasing an additional 616 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Wolverine World Wide during the second quarter valued at approximately $68,000. Finally, CWM LLC raised its stake in Wolverine World Wide by 237.0% in the 3rd quarter. CWM LLC now owns 8,843 shares of the textile maker’s stock valued at $154,000 after purchasing an additional 6,219 shares during the last quarter. Institutional investors and hedge funds own 90.25% of the company’s stock.

Insider Transactions at Wolverine World Wide

In other news, insider Amy M. Klimek sold 24,000 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $22.07, for a total value of $529,680.00. Following the completion of the transaction, the insider now directly owns 20,238 shares in the company, valued at $446,652.66. This trade represents a 54.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider David A. Latchana sold 7,706 shares of Wolverine World Wide stock in a transaction on Thursday, September 26th. The shares were 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. This trade represents a 35.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,920 shares of company stock worth $866,240. 2.28% of the stock is currently owned by insiders.

Wolverine World Wide Price Performance

Shares of NYSE WWW opened at $23.53 on Tuesday. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of -26.44 and a beta of 1.89. Wolverine World Wide, Inc. has a 1-year low of $7.58 and a 1-year high of $24.09. The business has a 50-day moving average of $18.65 and a 200-day moving average of $15.31. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.23 and a quick ratio of 0.77.

Wolverine World Wide Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 2nd will be issued a dividend of $0.10 per share. The ex-dividend date is Thursday, January 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.70%. Wolverine World Wide’s dividend payout ratio (DPR) is -44.94%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on WWW. Piper Sandler reaffirmed an “overweight” rating and set a $18.00 target price on shares of Wolverine World Wide in a research note on Friday, August 23rd. Telsey Advisory Group restated a “market perform” rating and set a $15.00 price target on shares of Wolverine World Wide in a research report on Thursday, November 7th. Robert W. Baird boosted their price objective on Wolverine World Wide from $13.00 to $15.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. BNP Paribas upgraded Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 target price for the company in a report on Thursday, October 3rd. Finally, KeyCorp upgraded Wolverine World Wide from a “sector weight” rating to an “overweight” rating and set a $20.00 price target on the stock in a report on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $18.00.

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.