Federated Hermes Inc. Boosts Holdings in Wolverine World Wide, Inc. (NYSE:WWW)

Federated Hermes Inc. grew its holdings in shares of Wolverine World Wide, Inc. (NYSE:WWW) by 6.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 762,458 shares of the textile maker’s stock after acquiring an additional 43,891 shares during the quarter. Federated Hermes Inc. owned 0.94% of Wolverine World Wide worth $10,606,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. FMR LLC increased its stake in shares of Wolverine World Wide by 2.2% in the fourth quarter. FMR LLC now owns 11,766,527 shares of the textile maker’s stock worth $261,217,000 after buying an additional 249,456 shares during the period. Earnest Partners LLC increased its stake in shares of Wolverine World Wide by 0.4% in the fourth quarter. Earnest Partners LLC now owns 5,228,918 shares of the textile maker’s stock worth $116,082,000 after buying an additional 19,295 shares during the period. JPMorgan Chase & Co. increased its position in Wolverine World Wide by 70.0% during the 4th quarter. JPMorgan Chase & Co. now owns 2,425,858 shares of the textile maker’s stock valued at $53,854,000 after purchasing an additional 998,916 shares during the period. Jacobs Levy Equity Management Inc. increased its position in Wolverine World Wide by 11.4% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,107,721 shares of the textile maker’s stock valued at $24,591,000 after purchasing an additional 113,238 shares during the period. Finally, Northern Trust Corp increased its position in Wolverine World Wide by 12.4% during the 4th quarter. Northern Trust Corp now owns 1,005,835 shares of the textile maker’s stock valued at $22,330,000 after purchasing an additional 111,151 shares during the period. 90.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WWW has been the topic of a number of research analyst reports. Telsey Advisory Group reissued a “market perform” rating and set a $17.00 price objective on shares of Wolverine World Wide in a research report on Wednesday. Robert W. Baird boosted their price objective on shares of Wolverine World Wide from $15.00 to $20.00 and gave the company an “outperform” rating in a research report on Tuesday, May 6th. UBS Group set a $30.00 price objective on shares of Wolverine World Wide and gave the company a “buy” rating in a research report on Monday, July 28th. Piper Sandler reduced their price objective on shares of Wolverine World Wide from $27.00 to $18.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. Finally, Argus raised shares of Wolverine World Wide from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research report on Friday, May 16th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $20.75.

Wolverine World Wide Stock Performance

Shares of WWW stock opened at $22.13 on Friday. Wolverine World Wide, Inc. has a 12 month low of $9.58 and a 12 month high of $24.64. The stock has a market cap of $1.79 billion, a PE ratio of 25.44 and a beta of 1.74. The company has a current ratio of 1.26, a quick ratio of 0.77 and a debt-to-equity ratio of 1.76. The company’s fifty day moving average price is $19.19 and its 200-day moving average price is $16.98.

Wolverine World Wide (NYSE:WWW) last announced its earnings results on Thursday, May 8th. The textile maker reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.07. Wolverine World Wide had a net margin of 4.15% and a return on equity of 28.74%. The firm had revenue of $412.30 million for the quarter, compared to analysts’ expectations of $395.94 million. During the same quarter in the previous year, the business posted $0.11 EPS. The company’s quarterly revenue was up 4.4% on a year-over-year basis. On average, equities analysts expect that Wolverine World Wide, Inc. will post 1.23 EPS for the current fiscal year.

Wolverine World Wide Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Wednesday, October 1st will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Wednesday, October 1st. Wolverine World Wide’s payout ratio is 45.98%.

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.