Envestnet Asset Management Inc. Has $3.96 Million Stock Position in Wolverine World Wide, Inc. (NYSE:WWW)

Envestnet Asset Management Inc. increased its holdings in shares of Wolverine World Wide, Inc. (NYSE:WWW) by 6.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 293,030 shares of the textile maker’s stock after buying an additional 17,711 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Wolverine World Wide were worth $3,962,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Intrinsic Edge Capital Management LLC acquired a new stake in shares of Wolverine World Wide during the fourth quarter worth $2,563,000. GAMMA Investing LLC lifted its holdings in shares of Wolverine World Wide by 42.5% in the first quarter. GAMMA Investing LLC now owns 4,504 shares of the textile maker’s stock valued at $50,000 after purchasing an additional 1,343 shares in the last quarter. J.W. Cole Advisors Inc. boosted its position in shares of Wolverine World Wide by 22.6% during the first quarter. J.W. Cole Advisors Inc. now owns 31,536 shares of the textile maker’s stock worth $350,000 after buying an additional 5,806 shares during the period. BNP Paribas Financial Markets grew its holdings in shares of Wolverine World Wide by 52.8% during the first quarter. BNP Paribas Financial Markets now owns 65,242 shares of the textile maker’s stock worth $731,000 after buying an additional 22,532 shares in the last quarter. Finally, Capstone Investment Advisors LLC acquired a new stake in Wolverine World Wide in the 1st quarter valued at approximately $1,089,000. 90.25% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on WWW. Telsey Advisory Group reaffirmed a “market perform” rating and set a $14.00 price target on shares of Wolverine World Wide in a research note on Wednesday, August 7th. Robert W. Baird lifted 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 note on Thursday, August 8th. Argus raised shares of Wolverine World Wide to a “hold” rating in a research report on Friday, August 16th. KeyCorp upgraded Wolverine World Wide from a “sector weight” rating to an “overweight” rating and set a $20.00 price objective for the company in a report on Thursday, August 8th. Finally, Piper Sandler reiterated an “overweight” rating and set a $18.00 target price on shares of Wolverine World Wide in a report on Friday, August 23rd. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.17.

Wolverine World Wide Stock Performance

Shares of WWW opened at $17.16 on Thursday. The company has a market cap of $1.37 billion, a PE ratio of -18.45 and a beta of 1.76. The firm has a 50-day moving average of $14.20 and a 200-day moving average of $12.85. Wolverine World Wide, Inc. has a one year low of $7.21 and a one year high of $17.57. The company has a debt-to-equity ratio of 2.14, a current ratio of 1.19 and a quick ratio of 0.74.

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 analysts’ consensus estimates of $0.10 by $0.05. The business had revenue of $425.40 million during the quarter, compared to analysts’ expectations of $411.20 million. Wolverine World Wide had a negative return on equity of 0.34% and a negative net margin of 4.42%. Wolverine World Wide’s quarterly revenue was down 27.8% on a year-over-year basis. During the same quarter last year, the company posted $0.19 earnings per share. As a group, equities analysts forecast that Wolverine World Wide, Inc. will post 0.85 earnings per share for the current year.

Wolverine World Wide Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Tuesday, October 1st will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend is Tuesday, October 1st. Wolverine World Wide’s payout ratio is -43.01%.

Insider Transactions at Wolverine World Wide

In other Wolverine World Wide news, insider David A. Latchana sold 7,706 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $17.02, for a total transaction of $131,156.12. Following the transaction, the insider now owns 13,889 shares in the company, valued at approximately $236,390.78. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.28% of the company’s stock.

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.