Wolverine World Wide, Inc. (NYSE:WWW) Shares Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC increased its position in shares of Wolverine World Wide, Inc. (NYSE:WWW) by 9.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,425 shares of the textile maker’s stock after acquiring an additional 973 shares during the quarter. Hsbc Holdings PLC’s holdings in Wolverine World Wide were worth $153,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of WWW. Bank of New York Mellon Corp boosted its holdings in Wolverine World Wide by 6.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 994,443 shares of the textile maker’s stock valued at $13,445,000 after purchasing an additional 60,481 shares during the last quarter. Sei Investments Co. increased its stake in Wolverine World Wide by 1.8% during the first quarter. Sei Investments Co. now owns 688,530 shares of the textile maker’s stock worth $7,718,000 after acquiring an additional 12,266 shares during the last quarter. Federated Hermes Inc. lifted its stake in shares of Wolverine World Wide by 10,607.4% in the 2nd quarter. Federated Hermes Inc. now owns 540,402 shares of the textile maker’s stock valued at $7,306,000 after purchasing an additional 535,355 shares during the last quarter. Manning & Napier Advisors LLC purchased a new position in shares of Wolverine World Wide during the 2nd quarter worth $7,098,000. Finally, Panagora Asset Management Inc. acquired a new stake in shares of Wolverine World Wide during the 2nd quarter worth about $3,979,000. Hedge funds and other institutional investors own 90.25% of the company’s stock.

Insider Activity

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

Analyst Ratings Changes

Several equities analysts have commented on the stock. Telsey Advisory Group restated a “market perform” rating and issued a $14.00 price target on shares of Wolverine World Wide in a research note on Wednesday, August 7th. Argus upgraded Wolverine World Wide to a “hold” rating in a report on Friday, August 16th. BNP Paribas upgraded Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 price objective for the company in a research note on Thursday. Piper Sandler restated an “overweight” rating and set a $18.00 target price on shares of Wolverine World Wide in a research note on Friday, August 23rd. Finally, Robert W. Baird lifted 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 research 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 currently has an average rating of “Moderate Buy” and an average price target of $17.86.

Wolverine World Wide Stock Down 1.2 %

WWW stock opened at $17.79 on Friday. The company’s 50 day moving average is $14.33 and its two-hundred day moving average is $12.96. Wolverine World Wide, Inc. has a twelve month low of $7.21 and a twelve month high of $18.51. The company has a current ratio of 1.19, a quick ratio of 0.74 and a debt-to-equity ratio of 2.14. The stock has a market cap of $1.42 billion, a P/E ratio of -19.13 and a beta of 1.77.

Wolverine World Wide (NYSE:WWW) last released its quarterly earnings data on Wednesday, August 7th. The textile maker reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.05. Wolverine World Wide had a negative net margin of 4.42% and a negative return on equity of 0.34%. The company had revenue of $425.40 million during the quarter, compared to the consensus estimate of $411.20 million. During the same quarter in the prior year, the firm posted $0.19 earnings per share. Wolverine World Wide’s revenue for the quarter was down 27.8% on a year-over-year basis. Research analysts expect that Wolverine World Wide, Inc. will post 0.85 earnings per share for the current fiscal year.

Wolverine World Wide Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 1st will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.25%. Wolverine World Wide’s dividend payout ratio (DPR) is presently -43.01%.

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.