Rhumbline Advisers Acquires 1,852 Shares of Wolverine World Wide, Inc. $WWW

Rhumbline Advisers increased its holdings in shares of Wolverine World Wide, Inc. (NYSE:WWW) by 0.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 226,441 shares of the textile maker’s stock after acquiring an additional 1,852 shares during the period. Rhumbline Advisers owned about 0.28% of Wolverine World Wide worth $3,150,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Wolverine World Wide during the 4th quarter worth approximately $64,000. PNC Financial Services Group Inc. lifted its stake in shares of Wolverine World Wide by 10.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,132 shares of the textile maker’s stock worth $127,000 after acquiring an additional 863 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Wolverine World Wide during the 4th quarter worth approximately $204,000. Teza Capital Management LLC bought a new stake in shares of Wolverine World Wide during the 4th quarter worth approximately $255,000. Finally, Teacher Retirement System of Texas bought a new stake in shares of Wolverine World Wide during the 1st quarter worth approximately $163,000. 90.25% of the stock is owned by institutional investors.

Insider Transactions at Wolverine World Wide

In related news, Director Brenda J. Lauderback sold 12,854 shares of the company’s stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $32.14, for a total value of $413,127.56. Following the completion of the transaction, the director owned 48,675 shares of the company’s stock, valued at approximately $1,564,414.50. This represents a 20.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Nicholas T. Long sold 12,854 shares of the company’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $31.84, for a total value of $409,271.36. Following the completion of the transaction, the director directly owned 76,268 shares of the company’s stock, valued at $2,428,373.12. The trade was a 14.42% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.28% of the company’s stock.

Wolverine World Wide Stock Performance

Shares of WWW stock opened at $30.18 on Tuesday. The stock has a market cap of $2.45 billion, a PE ratio of 29.58 and a beta of 1.80. The business has a 50-day simple moving average of $26.39 and a 200-day simple moving average of $19.03. The company has a quick ratio of 0.75, a current ratio of 1.24 and a debt-to-equity ratio of 1.58. Wolverine World Wide, Inc. has a 52-week low of $9.58 and a 52-week high of $32.80.

Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings data on Wednesday, August 6th. The textile maker reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.12. The business had revenue of $474.20 million during the quarter, compared to analysts’ expectations of $447.82 million. Wolverine World Wide had a return on equity of 31.99% and a net margin of 4.73%.The company’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.15 EPS. On average, equities analysts expect that Wolverine World Wide, Inc. will post 1.23 EPS for the current year.

Wolverine World Wide Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Wednesday, October 1st will be issued a $0.10 dividend. 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 is presently 39.22%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on WWW. Stifel Nicolaus lifted their target price on Wolverine World Wide from $30.00 to $36.00 and gave the company a “buy” rating in a research report on Wednesday, August 27th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $29.00 target price (up from $17.00) on shares of Wolverine World Wide in a research report on Wednesday, August 6th. Piper Sandler reaffirmed an “overweight” rating and set a $25.00 target price (up from $20.00) on shares of Wolverine World Wide in a research report on Tuesday, August 5th. Wall Street Zen raised Wolverine World Wide from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Finally, KeyCorp reaffirmed an “overweight” rating and set a $32.00 target price (up from $25.00) on shares of Wolverine World Wide in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $27.50.

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.