Mackenzie Financial Corp Makes New $160,000 Investment in Wolverine World Wide, Inc. (NYSE:WWW)

Mackenzie Financial Corp purchased a new position in Wolverine World Wide, Inc. (NYSE:WWW) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 11,860 shares of the textile maker’s stock, valued at approximately $160,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WWW. Pacer Advisors Inc. purchased a new position in Wolverine World Wide in the 2nd quarter worth approximately $64,295,000. Federated Hermes Inc. raised its position in shares of Wolverine World Wide by 10,607.4% during the 2nd quarter. Federated Hermes Inc. now owns 540,402 shares of the textile maker’s stock valued at $7,306,000 after acquiring an additional 535,355 shares in the last quarter. Manning & Napier Advisors LLC acquired a new stake in Wolverine World Wide in the second quarter worth $7,098,000. Panagora Asset Management Inc. acquired a new stake in Wolverine World Wide in the second quarter worth $3,979,000. Finally, Lumbard & Kellner LLC acquired a new stake in Wolverine World Wide in the first quarter worth $3,211,000. Hedge funds and other institutional investors own 90.25% of the company’s stock.

Wolverine World Wide Trading Down 3.1 %

NYSE:WWW opened at $17.23 on Tuesday. The company has a quick ratio of 0.74, a current ratio of 1.19 and a debt-to-equity ratio of 2.14. Wolverine World Wide, Inc. has a 1-year low of $7.21 and a 1-year high of $18.51. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of -18.53 and a beta of 1.77. The stock has a fifty day simple moving average of $14.39 and a 200 day simple moving average of $13.02.

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

Wolverine World Wide Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 1st will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend is Tuesday, October 1st. Wolverine World Wide’s payout ratio is -43.01%.

Insider Activity at Wolverine World Wide

In related news, 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 value of $131,156.12. Following the transaction, the insider now directly owns 13,889 shares of the company’s stock, valued at approximately $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 accessible through this link. 2.28% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on WWW shares. Piper Sandler reissued an “overweight” rating and set a $18.00 price target on shares of Wolverine World Wide in a report on Friday, August 23rd. Telsey Advisory Group reissued a “market perform” rating and set a $14.00 price target on shares of Wolverine World Wide in a report on Wednesday, August 7th. UBS Group raised Wolverine World Wide from a “neutral” rating to a “buy” rating and raised their target price for the company from $13.00 to $20.00 in a research note on Friday, July 19th. KeyCorp raised Wolverine World Wide from a “sector weight” rating to an “overweight” rating and set a $20.00 target price for the company in a research note on Thursday, August 8th. Finally, Argus raised Wolverine World Wide to a “hold” rating in a research note on Friday, August 16th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $17.86.

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.