Victory Capital Management Inc. Sells 18,486 Shares of Wolverine World Wide, Inc. (NYSE:WWW)

Victory Capital Management Inc. trimmed its stake in shares of Wolverine World Wide, Inc. (NYSE:WWW) by 19.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 75,799 shares of the textile maker’s stock after selling 18,486 shares during the quarter. Victory Capital Management Inc. owned about 0.09% of Wolverine World Wide worth $1,320,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Aigen Investment Management LP bought a new stake in Wolverine World Wide in the 3rd quarter valued at $195,000. GSA Capital Partners LLP lifted its holdings in shares of Wolverine World Wide by 33.9% during the third quarter. GSA Capital Partners LLP now owns 96,615 shares of the textile maker’s stock worth $1,683,000 after buying an additional 24,477 shares in the last quarter. US Bancorp DE boosted its position in shares of Wolverine World Wide by 487.8% in the third quarter. US Bancorp DE now owns 36,776 shares of the textile maker’s stock valued at $641,000 after acquiring an additional 30,519 shares during the period. Cedar Mountain Advisors LLC acquired a new position in shares of Wolverine World Wide in the third quarter valued at about $70,000. Finally, CWM LLC increased its position in Wolverine World Wide by 237.0% during the third quarter. CWM LLC now owns 8,843 shares of the textile maker’s stock worth $154,000 after acquiring an additional 6,219 shares during the period. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Amy M. Klimek sold 24,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $22.07, for a total value 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 $446,652.66. This represents a 54.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider David A. Latchana sold 7,706 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $17.02, for a total value 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 35.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,920 shares of company stock worth $866,240 in the last ninety days. Corporate insiders own 2.28% of the company’s stock.

Wolverine World Wide Stock Performance

NYSE:WWW opened at $23.01 on Wednesday. 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, Inc. has a twelve month low of $7.58 and a twelve month high of $24.09. The company has a fifty day moving average of $18.00 and a 200-day moving average of $15.05. The firm has a market capitalization of $1.84 billion, a P/E ratio of -25.85 and a beta of 1.78.

Wolverine World Wide Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 2nd will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend is Thursday, January 2nd. Wolverine World Wide’s payout ratio is -44.94%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on WWW. Piper Sandler reiterated an “overweight” rating and issued a $18.00 price target on shares of Wolverine World Wide in a research report on Friday, August 23rd. BNP Paribas upgraded Wolverine World Wide from a “neutral” rating to an “outperform” rating and set a $22.00 target price for the company in a research report on Thursday, October 3rd. Argus raised Wolverine World Wide to a “hold” rating in a report on Friday, August 16th. KeyCorp raised Wolverine World Wide from a “sector weight” rating to an “overweight” rating and set a $20.00 price target for the company in a research note on Thursday, August 8th. Finally, Robert W. Baird increased their price objective 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. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Wolverine World Wide has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

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.