GAMMA Investing LLC Buys 616 Shares of Wolverine World Wide, Inc. (NYSE:WWW)

GAMMA Investing LLC boosted its position in shares of Wolverine World Wide, Inc. (NYSE:WWW) by 15.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,494 shares of the textile maker’s stock after acquiring an additional 616 shares during the period. GAMMA Investing LLC’s holdings in Wolverine World Wide were worth $78,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Mackenzie Financial Corp bought a new stake in Wolverine World Wide in the second quarter valued at about $160,000. The Manufacturers Life Insurance Company raised its holdings in shares of Wolverine World Wide by 7.5% in the second quarter. The Manufacturers Life Insurance Company now owns 30,512 shares of the textile maker’s stock valued at $413,000 after buying an additional 2,138 shares during the last quarter. Earnest Partners LLC raised its holdings in shares of Wolverine World Wide by 1.7% in the second quarter. Earnest Partners LLC now owns 5,321,797 shares of the textile maker’s stock valued at $71,951,000 after buying an additional 90,407 shares during the last quarter. Caxton Associates LP bought a new stake in Wolverine World Wide during the 2nd quarter worth about $261,000. Finally, Aristeia Capital L.L.C. acquired a new stake in Wolverine World Wide in the 2nd quarter valued at about $288,000. Institutional investors and hedge funds own 90.25% of the company’s stock.

Insiders Place Their Bets

In other news, insider David A. Latchana sold 7,706 shares of the firm’s 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 completion of the transaction, the insider now owns 13,889 shares in the company, valued at $236,390.78. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.28% of the company’s stock.

Wall Street Analysts Forecast Growth

WWW has been the subject of a number of research reports. KeyCorp raised shares of Wolverine World Wide from a “sector weight” rating to an “overweight” rating and set a $20.00 price target for the company in a report on Thursday, August 8th. Argus upgraded Wolverine World Wide to a “hold” rating in a research report on Friday, August 16th. UBS Group upgraded Wolverine World Wide from a “neutral” rating to a “buy” rating and raised their price target for the company from $13.00 to $20.00 in a report on Friday, July 19th. BNP Paribas raised Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 price objective for the company in a report on Thursday, October 3rd. Finally, Robert W. Baird boosted their price target on shares of Wolverine World Wide from $13.00 to $15.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $17.86.

Wolverine World Wide Price Performance

NYSE WWW opened at $16.34 on Wednesday. The company has a debt-to-equity ratio of 2.14, a quick ratio of 0.74 and a current ratio of 1.19. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of -17.57 and a beta of 1.77. The business has a 50 day simple moving average of $14.69 and a 200 day simple moving average of $13.26. Wolverine World Wide, Inc. has a 52-week low of $7.28 and a 52-week high of $18.51.

Wolverine World Wide (NYSE:WWW) last posted its quarterly earnings data on Wednesday, August 7th. The textile maker reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.05. The company 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 revenue for the quarter was down 27.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.19 earnings per share. Analysts anticipate that Wolverine World Wide, Inc. will post 0.85 earnings per share for the current fiscal year.

Wolverine World Wide Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 1st will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date is Tuesday, October 1st. Wolverine World Wide’s dividend payout ratio (DPR) is currently -43.01%.

Wolverine World Wide 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.