State of Alaska Department of Revenue Raises Stock Holdings in Wolverine World Wide, Inc. $WWW

State of Alaska Department of Revenue boosted its holdings in Wolverine World Wide, Inc. (NYSE:WWW) by 8.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 48,276 shares of the textile maker’s stock after purchasing an additional 3,911 shares during the period. State of Alaska Department of Revenue owned about 0.06% of Wolverine World Wide worth $872,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WWW. Wealth Enhancement Advisory Services LLC purchased a new position in Wolverine World Wide in the fourth quarter valued at about $204,000. GAMMA Investing LLC boosted its holdings in Wolverine World Wide by 1,380.1% in the first quarter. GAMMA Investing LLC now owns 74,850 shares of the textile maker’s stock valued at $1,041,000 after purchasing an additional 69,793 shares during the last quarter. Rhumbline Advisers boosted its holdings in Wolverine World Wide by 0.8% in the first quarter. Rhumbline Advisers now owns 226,441 shares of the textile maker’s stock valued at $3,150,000 after purchasing an additional 1,852 shares during the last quarter. SG Americas Securities LLC boosted its holdings in Wolverine World Wide by 320.2% in the first quarter. SG Americas Securities LLC now owns 21,980 shares of the textile maker’s stock valued at $306,000 after purchasing an additional 16,749 shares during the last quarter. Finally, Manning & Napier Advisors LLC boosted its holdings in Wolverine World Wide by 64.6% in the first quarter. Manning & Napier Advisors LLC now owns 800,000 shares of the textile maker’s stock valued at $11,128,000 after purchasing an additional 313,997 shares during the last quarter. Hedge funds and other institutional investors own 90.25% of the company’s stock.

Insider Activity at Wolverine World Wide

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

Wolverine World Wide Trading Down 0.9%

Shares of NYSE WWW opened at $25.11 on Tuesday. The company has a market cap of $2.04 billion, a price-to-earnings ratio of 24.62 and a beta of 1.81. Wolverine World Wide, Inc. has a 12-month low of $9.58 and a 12-month high of $32.80. 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 stock’s 50 day simple moving average is $28.56 and its 200 day simple moving average is $20.53.

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

Wolverine World Wide Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Wednesday, October 1st will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.6%. The ex-dividend date is Wednesday, October 1st. Wolverine World Wide’s dividend payout ratio (DPR) is currently 39.22%.

Wall Street Analysts Forecast Growth

WWW has been the subject of a number of analyst reports. Stifel Nicolaus increased their price target on Wolverine World Wide from $30.00 to $36.00 and gave the company a “buy” rating in a report on Wednesday, August 27th. Piper Sandler reaffirmed an “overweight” rating and set a $25.00 target price (up previously from $20.00) on shares of Wolverine World Wide in a report on Tuesday, August 5th. UBS Group increased their target price on Wolverine World Wide from $30.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Wolverine World Wide in a report on Saturday, September 27th. Finally, KeyCorp reaffirmed an “overweight” rating and set a $32.00 target price (up previously from $25.00) on shares of Wolverine World Wide in a report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $28.29.

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.