Principal Financial Group Inc. Reduces Position in Wolverine World Wide, Inc. (NYSE:WWW)

Principal Financial Group Inc. lessened its holdings in Wolverine World Wide, Inc. (NYSE:WWW) by 4.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 379,042 shares of the textile maker’s stock after selling 18,119 shares during the quarter. Principal Financial Group Inc. owned about 0.47% of Wolverine World Wide worth $6,603,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. US Bancorp DE boosted its holdings in Wolverine World Wide by 487.8% during the third quarter. US Bancorp DE now owns 36,776 shares of the textile maker’s stock worth $641,000 after buying an additional 30,519 shares in the last quarter. Cedar Mountain Advisors LLC acquired a new stake in shares of Wolverine World Wide in the third quarter valued at about $70,000. CWM LLC raised its holdings in Wolverine World Wide by 237.0% in the 3rd quarter. CWM LLC now owns 8,843 shares of the textile maker’s stock valued at $154,000 after acquiring an additional 6,219 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new position in Wolverine World Wide during the third quarter worth $35,000. Finally, GAMMA Investing LLC increased its position in Wolverine World Wide by 15.9% during the third quarter. GAMMA Investing LLC now owns 4,494 shares of the textile maker’s stock worth $78,000 after purchasing an additional 616 shares during the last quarter. Hedge funds and other institutional investors own 90.25% of the company’s stock.

Wolverine World Wide Stock Up 2.2 %

Shares of NYSE:WWW opened at $22.37 on Wednesday. Wolverine World Wide, Inc. has a fifty-two week low of $7.58 and a fifty-two week high of $22.86. The firm’s 50-day simple moving average is $16.95 and its 200-day simple moving average is $14.59. The company has a market cap of $1.79 billion, a price-to-earnings ratio of -25.13 and a beta of 1.78. The company has a quick ratio of 0.77, a current ratio of 1.23 and a debt-to-equity ratio of 1.91.

Wolverine World Wide Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 2nd will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date is Thursday, January 2nd. Wolverine World Wide’s dividend payout ratio (DPR) is currently -44.94%.

Insider Buying and Selling

In related news, insider David A. Latchana sold 7,706 shares of Wolverine World Wide 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 sale, the insider now owns 13,889 shares in the company, valued at approximately $236,390.78. This trade represents a 35.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Amy M. Klimek sold 24,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $22.07, for a total transaction of $529,680.00. Following the completion of the transaction, the insider now directly owns 20,238 shares of the company’s stock, valued at approximately $446,652.66. This represents a 54.25 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 41,920 shares of company stock valued at $866,240. Corporate insiders own 2.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on WWW. Robert W. Baird boosted their price objective on shares of Wolverine World Wide from $13.00 to $15.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $15.00 target price on shares of Wolverine World Wide in a report on Thursday, November 7th. Piper Sandler reaffirmed an “overweight” rating and set a $18.00 price target on shares of Wolverine World Wide in a report on Friday, August 23rd. KeyCorp raised shares of Wolverine World Wide from a “sector weight” rating to an “overweight” rating and set a $20.00 target price on the stock in a research report on Thursday, August 8th. Finally, BNP Paribas raised Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 price target on the stock in a research report on Thursday, October 3rd. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $18.00.

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.