Federated Hermes Inc. Raises Stock Holdings in Wolverine World Wide, Inc. $WWW

Federated Hermes Inc. boosted its position in Wolverine World Wide, Inc. (NYSE:WWW) by 23.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 942,642 shares of the textile maker’s stock after purchasing an additional 180,184 shares during the quarter. Federated Hermes Inc. owned approximately 1.16% of Wolverine World Wide worth $17,043,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Wolverine World Wide by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 9,005,788 shares of the textile maker’s stock worth $125,271,000 after buying an additional 45,779 shares during the period. Earnest Partners LLC boosted its stake in Wolverine World Wide by 0.8% during the first quarter. Earnest Partners LLC now owns 5,270,775 shares of the textile maker’s stock worth $73,316,000 after acquiring an additional 41,857 shares in the last quarter. Callodine Capital Management LP grew its holdings in Wolverine World Wide by 60.2% in the first quarter. Callodine Capital Management LP now owns 3,047,071 shares of the textile maker’s stock worth $42,385,000 after purchasing an additional 1,145,455 shares during the period. Geode Capital Management LLC grew its holdings in Wolverine World Wide by 1.8% in the second quarter. Geode Capital Management LLC now owns 1,869,339 shares of the textile maker’s stock worth $33,802,000 after purchasing an additional 32,493 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in shares of Wolverine World Wide by 55.6% during the first quarter. Goldman Sachs Group Inc. now owns 1,504,571 shares of the textile maker’s stock valued at $20,929,000 after purchasing an additional 537,854 shares in the last quarter. Institutional investors own 90.25% of the company’s stock.

Insider Activity at Wolverine World Wide

In other Wolverine World Wide news, insider Amy M. Klimek sold 11,528 shares of Wolverine World Wide stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $22.32, for a total value of $257,304.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Nicholas T. Long purchased 2,000 shares of the stock in a transaction dated Friday, November 7th. The shares were purchased at an average cost of $15.88 per share, for a total transaction of $31,760.00. Following the completion of the acquisition, the director directly owned 78,268 shares in the company, valued at approximately $1,242,895.84. This trade represents a 2.62% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders acquired 33,250 shares of company stock worth $524,573. Company insiders own 2.28% of the company’s stock.

Wolverine World Wide Trading Up 6.0%

Wolverine World Wide stock opened at $18.55 on Thursday. Wolverine World Wide, Inc. has a one year low of $9.58 and a one year high of $32.80. The business’s fifty day moving average is $20.56 and its 200 day moving average is $22.71. The stock has a market capitalization of $1.52 billion, a PE ratio of 17.84 and a beta of 1.94. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.34 and a quick ratio of 0.79.

Wolverine World Wide (NYSE:WWW) last posted its earnings results on Wednesday, November 5th. The textile maker reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.03. The business had revenue of $470.30 million for the quarter, compared to analysts’ expectations of $461.46 million. Wolverine World Wide had a net margin of 4.73% and a return on equity of 31.43%. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.28 EPS. Wolverine World Wide has set its FY 2025 guidance at 1.290-1.340 EPS. On average, sell-side analysts predict that Wolverine World Wide, Inc. will post 1.23 EPS for the current year.

Wolverine World Wide Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Friday, January 2nd will be issued a $0.10 dividend. The ex-dividend date is Friday, January 2nd. This represents a $0.40 annualized dividend and a yield of 2.2%. Wolverine World Wide’s dividend payout ratio (DPR) is currently 38.46%.

Analyst Ratings Changes

A number of brokerages have recently commented on WWW. UBS Group reissued a “buy” rating and issued a $28.00 price target on shares of Wolverine World Wide in a research report on Tuesday. Wall Street Zen cut Wolverine World Wide from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Robert W. Baird reduced their price target on Wolverine World Wide from $35.00 to $23.00 and set an “outperform” rating for the company in a report on Thursday, November 6th. KeyCorp dropped their price target on shares of Wolverine World Wide from $32.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. Finally, Stifel Nicolaus set a $25.00 price objective on shares of Wolverine World Wide in a research note on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $23.29.

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.