Federated Hermes Inc. Buys 535,355 Shares of Wolverine World Wide, Inc. (NYSE:WWW)

Federated Hermes Inc. grew its stake in Wolverine World Wide, Inc. (NYSE:WWW) by 10,607.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 540,402 shares of the textile maker’s stock after acquiring an additional 535,355 shares during the period. Federated Hermes Inc. owned 0.68% of Wolverine World Wide worth $7,306,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its stake in shares of Wolverine World Wide by 6.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,771,991 shares of the textile maker’s stock worth $15,753,000 after acquiring an additional 103,368 shares during the last quarter. Bank of New York Mellon Corp raised its stake 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 buying an additional 60,481 shares during the last quarter. Sei Investments Co. raised its stake 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 buying an additional 12,266 shares during the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of Wolverine World Wide during the second quarter worth approximately $7,098,000. Finally, Panagora Asset Management Inc. bought a new stake in shares of Wolverine World Wide during the second quarter worth approximately $3,979,000. 90.25% of the stock is owned by institutional investors.

Wolverine World Wide Stock Up 0.6 %

Wolverine World Wide stock opened at $15.06 on Wednesday. The stock has a market capitalization of $1.20 billion, a PE ratio of -16.19 and a beta of 1.76. Wolverine World Wide, Inc. has a twelve month low of $7.21 and a twelve month high of $15.30. The company has a quick ratio of 0.74, a current ratio of 1.19 and a debt-to-equity ratio of 2.14. The company has a 50 day moving average of $13.53 and a 200-day moving average of $12.37.

Wolverine World Wide (NYSE:WWW) last released its quarterly earnings results on Wednesday, August 7th. The textile maker reported $0.15 earnings per share for the quarter, beating 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 net margin of 4.42% and a negative return on equity of 0.34%. The business’s quarterly revenue was down 27.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.19 earnings per share. On average, equities research analysts anticipate that Wolverine World Wide, Inc. will post 0.85 EPS for the current fiscal year.

Wolverine World Wide Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 1st will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend is Tuesday, October 1st. Wolverine World Wide’s dividend payout ratio (DPR) is presently -43.01%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. 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. Telsey Advisory Group reissued 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. 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 boosted their price objective for the company from $13.00 to $20.00 in a report on Friday, July 19th. Finally, Piper Sandler restated an “overweight” rating and set a $18.00 price objective 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 assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $17.17.

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.