Wolverine World Wide, Inc. (NYSE:WWW) Stock Holdings Trimmed by Victory Capital Management Inc.

Posted by Defense World Staff on May 26th, 2023

Victory Capital Management Inc. lessened its position in Wolverine World Wide, Inc. (NYSE:WWW – Get Rating) by 67.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 451,200 shares of the textile maker’s stock after selling 934,085 shares during the period. Victory Capital Management Inc. owned approximately 0.57% of Wolverine World Wide worth $7,278,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. US Asset Management LLC purchased a new position in Wolverine World Wide in the fourth quarter valued at about $26,000. Eagle Bay Advisors LLC lifted its position in shares of Wolverine World Wide by 141.3% during the 4th quarter. Eagle Bay Advisors LLC now owns 2,790 shares of the textile maker’s stock worth $30,000 after purchasing an additional 1,634 shares during the last quarter. Gladius Capital Management LP acquired a new position in shares of Wolverine World Wide during the 4th quarter worth about $37,000. Quadrant Capital Group LLC lifted its position in shares of Wolverine World Wide by 131.1% during the 3rd quarter. Quadrant Capital Group LLC now owns 3,473 shares of the textile maker’s stock worth $53,000 after purchasing an additional 1,970 shares during the last quarter. Finally, UBS Group AG lifted its position in shares of Wolverine World Wide by 114.9% during the 3rd quarter. UBS Group AG now owns 6,315 shares of the textile maker’s stock worth $97,000 after purchasing an additional 3,376 shares during the last quarter. 97.08% of the stock is currently owned by institutional investors and hedge funds.

Wolverine World Wide Stock Performance

Wolverine World Wide stock opened at $14.30 on Friday. The stock has a 50-day simple moving average of $16.04 and a 200 day simple moving average of $14.27. The company has a current ratio of 1.16, a quick ratio of 0.46 and a debt-to-equity ratio of 2.09. Wolverine World Wide, Inc. has a 52 week low of $9.60 and a 52 week high of $24.08.

Wolverine World Wide (NYSE:WWW – Get Rating) last posted its earnings results on Wednesday, February 22nd. The textile maker reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). Wolverine World Wide had a positive return on equity of 17.61% and a negative net margin of 6.71%. The company had revenue of $665.00 million for the quarter, compared to the consensus estimate of $665.04 million. During the same period in the previous year, the firm posted $0.41 EPS. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Wolverine World Wide, Inc. will post 1.5 earnings per share for the current fiscal year.

Wolverine World Wide Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 1st. Stockholders of record on Monday, July 3rd will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, June 30th. This represents a $0.40 annualized dividend and a dividend yield of 2.80%. Wolverine World Wide’s dividend payout ratio is currently -17.02%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on WWW. StockNews.com upgraded Wolverine World Wide from a “sell” rating to a “hold” rating in a research note on Thursday, May 11th. Telsey Advisory Group reissued a “market perform” rating and issued a $14.00 price target on shares of Wolverine World Wide in a research note on Wednesday, February 22nd. Robert W. Baird raised their price objective on Wolverine World Wide from $13.00 to $15.00 in a research note on Thursday, May 11th. Stifel Nicolaus increased their target price on Wolverine World Wide from $15.00 to $18.00 in a report on Thursday, May 11th. Finally, Seaport Res Ptn upgraded Wolverine World Wide from a “neutral” rating to a “buy” rating in a report on Monday, March 13th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $16.00.

Wolverine World Wide Profile

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Wolverine World Wide, Inc engages in the design, manufacture, and sale of branded casual, active lifestyle, work, outdoor sport, athletic, uniform, footwear, and apparel. It operates through the following segments: Wolverine Michigan Group and Wolverine Boston Group. The Wolverine Michigan Group consists of Merrell, Cat, Chaco, Hush Puppies, Bates uniform, Harley-Davidson and Hytest safety footwear and apparel.