Intech Investment Management LLC Lowers Position in Wolverine World Wide, Inc. $WWW

Intech Investment Management LLC lessened its stake in shares of Wolverine World Wide, Inc. (NYSE:WWW) by 63.2% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 87,494 shares of the textile maker’s stock after selling 150,347 shares during the period. Intech Investment Management LLC’s holdings in Wolverine World Wide were worth $1,582,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the stock. Cerity Partners LLC grew its stake in shares of Wolverine World Wide by 25.0% during the 1st quarter. Cerity Partners LLC now owns 16,728 shares of the textile maker’s stock valued at $233,000 after acquiring an additional 3,346 shares during the period. Cetera Investment Advisers bought a new position in shares of Wolverine World Wide in the first quarter worth approximately $232,000. Integrated Investment Consultants LLC boosted its position in shares of Wolverine World Wide by 31.9% in the first quarter. Integrated Investment Consultants LLC now owns 15,137 shares of the textile maker’s stock worth $211,000 after purchasing an additional 3,665 shares during the period. Bryce Point Capital LLC purchased a new stake in shares of Wolverine World Wide in the first quarter worth $983,000. Finally, Mackenzie Financial Corp raised its position in shares of Wolverine World Wide by 28.4% during the 1st quarter. Mackenzie Financial Corp now owns 52,140 shares of the textile maker’s stock valued at $725,000 after purchasing an additional 11,524 shares during the period. Institutional investors own 90.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Wolverine World Wide in a report on Wednesday. UBS Group cut their target price on Wolverine World Wide from $39.00 to $28.00 and set a “buy” rating for the company in a research report on Thursday, November 6th. Telsey Advisory Group reissued a “market perform” rating and issued a $18.00 price target (down from $29.00) on shares of Wolverine World Wide in a report on Wednesday, November 5th. Stifel Nicolaus set a $25.00 price objective on shares of Wolverine World Wide in a report on Thursday, November 6th. Finally, Zacks Research cut shares of Wolverine World Wide from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.29.

Wolverine World Wide Stock Performance

NYSE WWW opened at $15.90 on Friday. The stock has a market capitalization of $1.30 billion, a PE ratio of 15.59 and a beta of 1.83. The business has a 50 day simple moving average of $23.68 and a two-hundred day simple moving average of $22.68. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.24 and a quick ratio of 0.75. Wolverine World Wide, Inc. has a 1-year low of $9.58 and a 1-year high of $32.80.

Wolverine World Wide (NYSE:WWW) last issued its quarterly earnings data on Wednesday, November 5th. The textile maker reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.03. Wolverine World Wide had a return on equity of 31.99% and a net margin of 4.73%.The business had revenue of $470.30 million for the quarter, compared to analysts’ expectations of $461.46 million. During the same period in the prior year, the firm earned $0.28 EPS. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. Wolverine World Wide has set its FY 2025 guidance at 1.290-1.340 EPS. On average, research analysts predict that Wolverine World Wide, Inc. will post 1.23 EPS for the current fiscal year.

Wolverine World Wide Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Friday, January 2nd will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, January 2nd. Wolverine World Wide’s dividend payout ratio (DPR) is presently 38.46%.

Insider Transactions at Wolverine World Wide

In other Wolverine World Wide news, Director Jack Boyle bought 6,250 shares of Wolverine World Wide stock in a transaction dated Friday, November 7th. The shares were purchased at an average cost of $15.77 per share, for a total transaction of $98,562.50. Following the acquisition, the director directly owned 6,250 shares in the company, valued at approximately $98,562.50. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, insider Amy M. Klimek sold 11,528 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $22.32, for a total transaction of $257,304.96. The SEC filing for this sale provides additional information. Over the last 90 days, insiders purchased 33,250 shares of company stock worth $524,573 and sold 37,236 shares worth $1,079,704. Corporate insiders own 2.28% of the company’s stock.

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.