Wolverine World Wide, Inc. (NYSE:WWW) Position Increased by GAMMA Investing LLC

GAMMA Investing LLC increased its stake in shares of Wolverine World Wide, Inc. (NYSE:WWW) by 15.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,494 shares of the textile maker’s stock after buying an additional 616 shares during the quarter. GAMMA Investing LLC’s holdings in Wolverine World Wide were worth $78,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Earnest Partners LLC grew its position in shares of Wolverine World Wide by 1.7% during the second quarter. Earnest Partners LLC now owns 5,321,797 shares of the textile maker’s stock worth $71,951,000 after acquiring an additional 90,407 shares during the last quarter. Pacer Advisors Inc. acquired a new stake in Wolverine World Wide in the second quarter worth about $64,295,000. Bank of New York Mellon Corp grew its position 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 buying an additional 60,481 shares in the last quarter. Sei Investments Co. increased its stake in Wolverine World Wide by 1.8% during the 1st quarter. Sei Investments Co. now owns 688,530 shares of the textile maker’s stock valued at $7,718,000 after buying an additional 12,266 shares during the period. Finally, 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 worth $7,306,000 after buying an additional 535,355 shares in the last quarter. 90.25% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Wolverine World Wide news, insider David A. Latchana sold 7,706 shares of the business’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 transaction, the insider now owns 13,889 shares in the company, valued at $236,390.78. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.28% of the stock is owned by corporate insiders.

Wolverine World Wide Stock Down 1.6 %

Shares of Wolverine World Wide stock opened at $16.34 on Wednesday. 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, Inc. has a 1 year low of $7.28 and a 1 year high of $18.51. The stock has a 50-day moving average price of $14.69 and a 200 day moving average price of $13.26. The company has a market cap of $1.31 billion, a P/E ratio of -17.57 and a beta of 1.77.

Wolverine World Wide (NYSE:WWW) last posted its quarterly earnings results on Wednesday, August 7th. The textile maker reported $0.15 EPS for the quarter, topping the consensus estimate of $0.10 by $0.05. The business 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 firm’s quarterly revenue was down 27.8% compared to the same quarter last year. During the same period last year, the company posted $0.19 earnings per share. As a group, analysts expect 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 paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date is Tuesday, October 1st. Wolverine World Wide’s dividend payout ratio (DPR) is presently -43.01%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on WWW shares. Argus upgraded shares of Wolverine World Wide to a “hold” rating in a report on Friday, August 16th. BNP Paribas raised Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 price objective on the stock in a research note on Thursday, October 3rd. 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 upgraded shares of Wolverine World Wide from a “sector weight” rating to an “overweight” rating and set a $20.00 price target on the stock in a research report on Thursday, August 8th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $14.00 price objective on shares of Wolverine World Wide in a research note on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Wolverine World Wide has an average rating of “Moderate Buy” and a consensus price target 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.