Wolverine World Wide, Inc. (NYSE:WWW) Shares Purchased by Cwm LLC

Cwm LLC boosted its stake in shares of Wolverine World Wide, Inc. (NYSE:WWW) by 237.0% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 8,843 shares of the textile maker’s stock after acquiring an additional 6,219 shares during the period. Cwm LLC’s holdings in Wolverine World Wide were worth $154,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Earnest Partners LLC grew 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 purchasing an additional 90,407 shares during the period. Pacer Advisors Inc. acquired a new stake in Wolverine World Wide during the second quarter worth approximately $64,295,000. Bank of New York Mellon Corp grew its position in shares of Wolverine World Wide by 6.5% during the second quarter. Bank of New York Mellon Corp now owns 994,443 shares of the textile maker’s stock worth $13,445,000 after acquiring an additional 60,481 shares during the last quarter. Sei Investments Co. grew its position in shares of 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. Finally, Federated Hermes Inc. grew its position in shares of Wolverine World Wide by 10,607.4% during the second quarter. Federated Hermes Inc. now owns 540,402 shares of the textile maker’s stock worth $7,306,000 after acquiring an additional 535,355 shares during the last quarter. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Wolverine World Wide Stock Performance

Wolverine World Wide stock opened at $15.61 on Friday. The stock has a 50 day moving average of $15.19 and a 200-day moving average of $13.52. Wolverine World Wide, Inc. has a 52 week low of $7.52 and a 52 week high of $18.51. The stock has a market cap of $1.25 billion, a P/E ratio of -14.73 and a beta of 1.77. The company has a current ratio of 1.19, a quick ratio of 0.74 and a debt-to-equity ratio of 2.14.

Wolverine World Wide (NYSE:WWW) last issued its earnings results 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. Wolverine World Wide had a negative return on equity of 0.34% and a negative net margin of 4.42%. The firm had revenue of $425.40 million for the quarter, compared to analyst estimates of $411.20 million. During the same period last year, the company earned $0.19 earnings per share. The firm’s revenue for the quarter was down 27.8% on a year-over-year basis. On average, analysts expect that Wolverine World Wide, Inc. will post 0.85 EPS for the current fiscal year.

Wolverine World Wide Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 1st will be paid a $0.10 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $0.40 annualized dividend and a dividend yield of 2.56%. Wolverine World Wide’s payout ratio is -37.74%.

Insider Transactions at Wolverine World Wide

In related 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 transaction of $131,156.12. Following the completion of the transaction, the insider now owns 13,889 shares of the company’s stock, valued at $236,390.78. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 2.28% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Piper Sandler reissued an “overweight” rating and issued a $18.00 price objective on shares of Wolverine World Wide in a research note on Friday, August 23rd. Argus upgraded shares of Wolverine World Wide to a “hold” rating in a report on Friday, August 16th. UBS Group upgraded shares of Wolverine World Wide from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $13.00 to $20.00 in a report on Friday, July 19th. Telsey Advisory Group reissued a “market perform” rating and set a $14.00 target price on shares of Wolverine World Wide in a research report on Wednesday, August 7th. Finally, BNP Paribas raised shares of Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 price objective for the company in a research report on Thursday, October 3rd. 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, the stock has an average rating of “Moderate Buy” and an average price target of $17.86.

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.