Swiss National Bank Sells 1,500 Shares of Wolverine World Wide, Inc. $WWW

Swiss National Bank reduced its position in Wolverine World Wide, Inc. (NYSE:WWW) by 1.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 155,200 shares of the textile maker’s stock after selling 1,500 shares during the period. Swiss National Bank owned 0.19% of Wolverine World Wide worth $2,159,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Wolverine World Wide in the 1st quarter valued at about $608,000. Illinois Municipal Retirement Fund boosted its holdings in shares of Wolverine World Wide by 8.4% in the 1st quarter. Illinois Municipal Retirement Fund now owns 44,317 shares of the textile maker’s stock valued at $616,000 after buying an additional 3,441 shares in the last quarter. Jupiter Asset Management Ltd. bought a new stake in shares of Wolverine World Wide in the 1st quarter valued at about $3,440,000. Nuveen Asset Management LLC boosted its holdings in shares of Wolverine World Wide by 179.1% in the 4th quarter. Nuveen Asset Management LLC now owns 628,338 shares of the textile maker’s stock valued at $13,949,000 after buying an additional 403,176 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in shares of Wolverine World Wide in the 4th quarter valued at about $204,000. 90.25% of the stock is currently owned by institutional investors.

Wolverine World Wide Stock Performance

WWW opened at $30.72 on Friday. Wolverine World Wide, Inc. has a 12-month low of $9.58 and a 12-month high of $30.78. The company has a current ratio of 1.24, a quick ratio of 0.75 and a debt-to-equity ratio of 1.58. The firm has a market capitalization of $2.50 billion, a PE ratio of 30.12 and a beta of 1.74. The firm has a 50 day moving average of $22.21 and a two-hundred day moving average of $17.48.

Wolverine World Wide (NYSE:WWW) last posted its quarterly earnings results on Wednesday, August 6th. The textile maker reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.12. Wolverine World Wide had a net margin of 4.73% and a return on equity of 31.99%. The company had revenue of $474.20 million during the quarter, compared to analyst estimates of $447.82 million. During the same period last year, the firm posted $0.15 EPS. Wolverine World Wide’s revenue for the quarter was up 11.5% compared to the same quarter last year. On average, analysts anticipate that Wolverine World Wide, Inc. will post 1.23 EPS for the current year.

Wolverine World Wide Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Wednesday, October 1st will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $0.40 dividend on an annualized basis and a yield of 1.3%. Wolverine World Wide’s dividend payout ratio (DPR) is currently 39.22%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on WWW shares. Wall Street Zen upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Piper Sandler reiterated an “overweight” rating and issued a $25.00 target price (up from $20.00) on shares of Wolverine World Wide in a research note on Tuesday, August 5th. Telsey Advisory Group reiterated a “market perform” rating and issued a $29.00 target price (up from $17.00) on shares of Wolverine World Wide in a research note on Wednesday, August 6th. Robert W. Baird lifted their target price on shares of Wolverine World Wide from $15.00 to $20.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 6th. Finally, Argus upgraded shares of Wolverine World Wide from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research note on Friday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $25.38.

Wolverine World Wide 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.