Squarepoint Ops LLC Acquires 134,219 Shares of Wolverine World Wide, Inc. $WWW

Squarepoint Ops LLC boosted its position in Wolverine World Wide, Inc. (NYSE:WWW) by 67.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 332,870 shares of the textile maker’s stock after buying an additional 134,219 shares during the period. Squarepoint Ops LLC’s holdings in Wolverine World Wide were worth $6,018,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Wolverine World Wide by 0.5% during 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 in the last quarter. Earnest Partners LLC lifted its holdings in shares of Wolverine World Wide by 0.8% in the first quarter. Earnest Partners LLC now owns 5,270,775 shares of the textile maker’s stock worth $73,316,000 after buying an additional 41,857 shares in the last quarter. Callodine Capital Management LP increased its holdings in shares of Wolverine World Wide by 41.0% in the second quarter. Callodine Capital Management LP now owns 4,297,586 shares of the textile maker’s stock worth $77,700,000 after purchasing an additional 1,250,515 shares during the period. Geode Capital Management LLC raised its stake 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 valued at $33,802,000 after purchasing an additional 32,493 shares in the last quarter. Finally, Bank of America Corp DE grew its position in Wolverine World Wide by 8.6% in the second quarter. Bank of America Corp DE now owns 1,772,076 shares of the textile maker’s stock worth $32,039,000 after acquiring an additional 139,913 shares in the last quarter. 90.25% of the stock is owned by institutional investors.

Insider Buying and Selling at Wolverine World Wide

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

Wolverine World Wide Price Performance

Shares of WWW opened at $18.13 on Monday. The company has a 50 day moving average of $20.26 and a two-hundred day moving average of $22.77. Wolverine World Wide, Inc. has a twelve month low of $9.58 and a twelve month high of $32.80. The company has a market cap of $1.49 billion, a price-to-earnings ratio of 17.44 and a beta of 1.94. The company has a quick ratio of 0.79, a current ratio of 1.34 and a debt-to-equity ratio of 1.40.

Wolverine World Wide (NYSE:WWW) last released 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 firm had revenue of $470.30 million for the quarter, compared to the consensus estimate of $461.46 million. Wolverine World Wide had a return on equity of 31.43% and a net margin of 4.73%.The firm’s revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.28 EPS. Wolverine World Wide has set its FY 2025 guidance at 1.290-1.340 EPS. As a group, analysts predict that Wolverine World Wide, Inc. will post 1.23 earnings per share for the current fiscal year.

Wolverine World Wide Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Friday, January 2nd will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Friday, January 2nd. Wolverine World Wide’s payout ratio is 38.46%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Stifel Nicolaus set a $25.00 price target on Wolverine World Wide in a report on Thursday, November 6th. KeyCorp decreased their target price on shares of Wolverine World Wide from $32.00 to $24.00 and set an “overweight” rating for the company in a report on Thursday, November 6th. Zacks Research downgraded shares of Wolverine World Wide from a “strong-buy” rating to a “hold” rating in a report on Monday, October 27th. Robert W. Baird cut their price target on Wolverine World Wide from $35.00 to $23.00 and set an “outperform” rating for the company in a research note on Thursday, November 6th. Finally, UBS Group reissued a “buy” rating and set a $28.00 price target on shares of Wolverine World Wide in a report on Tuesday, December 9th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $23.29.

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.