California State Teachers Retirement System Sells 1,347 Shares of Wolverine World Wide, Inc. (NYSE:WWW)

California State Teachers Retirement System reduced its position in Wolverine World Wide, Inc. (NYSE:WWW) by 1.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 97,969 shares of the textile maker’s stock after selling 1,347 shares during the period. California State Teachers Retirement System owned approximately 0.12% of Wolverine World Wide worth $1,670,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of WWW. Russell Investments Group Ltd. lifted its stake in Wolverine World Wide by 862.4% during the 1st quarter. Russell Investments Group Ltd. now owns 293,642 shares of the textile maker’s stock valued at $5,007,000 after acquiring an additional 263,130 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Wolverine World Wide by 30.8% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,483 shares of the textile maker’s stock valued at $264,000 after acquiring an additional 3,643 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in Wolverine World Wide during the 1st quarter valued at $18,250,000. Truist Financial Corp bought a new position in Wolverine World Wide during the 1st quarter valued at $410,000. Finally, Barclays PLC lifted its stake in Wolverine World Wide by 176.2% during the 1st quarter. Barclays PLC now owns 154,604 shares of the textile maker’s stock valued at $2,636,000 after acquiring an additional 98,620 shares in the last quarter. 93.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

WWW has been the subject of several research analyst reports. William Blair reaffirmed a “hold” rating and set a $12.00 target price (down from $23.00) on shares of Wolverine World Wide in a research report on Friday, August 11th. Telsey Advisory Group decreased their target price on Wolverine World Wide from $18.00 to $10.00 and set a “market perform” rating for the company in a research report on Friday, August 11th. Stifel Nicolaus decreased their target price on Wolverine World Wide from $18.00 to $11.00 and set a “hold” rating for the company in a research report on Friday, August 11th. StockNews.com initiated coverage on Wolverine World Wide in a research report on Thursday, August 17th. They set a “hold” rating for the company. Finally, Piper Sandler decreased their target price on Wolverine World Wide from $17.00 to $13.00 and set a “neutral” rating for the company in a research report on Friday, August 11th. Nine equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $11.89.

Wolverine World Wide Trading Up 0.4 %

Shares of WWW opened at $8.10 on Wednesday. The business has a 50-day moving average of $11.85 and a 200 day moving average of $14.38. Wolverine World Wide, Inc. has a fifty-two week low of $7.90 and a fifty-two week high of $20.79. The firm has a market cap of $643.63 million, a P/E ratio of -2.26 and a beta of 1.65. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.54 and a current ratio of 1.21.

Wolverine World Wide (NYSE:WWW) last posted its earnings results on Thursday, August 10th. The textile maker reported $0.19 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.19. The business had revenue of $589.10 million during the quarter, compared to analyst estimates of $582.97 million. Wolverine World Wide had a positive return on equity of 11.70% and a negative net margin of 10.99%. The company’s quarterly revenue was down 17.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.66 EPS. As a group, research analysts forecast that Wolverine World Wide, Inc. will post 0.48 EPS for the current year.

Wolverine World Wide Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Monday, October 2nd will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 4.94%. The ex-dividend date of this dividend is Friday, September 29th. Wolverine World Wide’s payout ratio is presently -11.17%.

Insider Buying and Selling at Wolverine World Wide

In other Wolverine World Wide news, Director Brenda J. Lauderback sold 3,050 shares of Wolverine World Wide stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $13.68, for a total transaction of $41,724.00. Following the completion of the transaction, the director now owns 32,345 shares of the company’s stock, valued at approximately $442,479.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Brenda J. Lauderback sold 3,050 shares of Wolverine World Wide stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $13.68, for a total transaction of $41,724.00. Following the completion of the sale, the director now owns 32,345 shares in the company, valued at approximately $442,479.60. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey M. Boromisa purchased 3,500 shares of the company’s stock in a transaction dated Friday, August 18th. The shares were acquired at an average price of $8.35 per share, with a total value of $29,225.00. Following the transaction, the director now owns 160,400 shares in the company, valued at approximately $1,339,340. The disclosure for this purchase can be found here. Insiders own 4.95% of the company’s stock.

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, Work Group, Lifestyle 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.