New York State Common Retirement Fund Trims Stock Holdings in Wolverine World Wide, Inc. $WWW

New York State Common Retirement Fund cut its holdings in shares of Wolverine World Wide, Inc. (NYSE:WWW) by 35.5% during the third quarter, HoldingsChannel.com reports. The fund owned 474,636 shares of the textile maker’s stock after selling 261,622 shares during the quarter. New York State Common Retirement Fund’s holdings in Wolverine World Wide were worth $13,024,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Maryland State Retirement & Pension System raised its position in Wolverine World Wide by 1.9% in the 2nd quarter. Maryland State Retirement & Pension System now owns 23,818 shares of the textile maker’s stock valued at $431,000 after purchasing an additional 453 shares during the last quarter. Teacher Retirement System of Texas increased its stake in Wolverine World Wide by 5.1% in the second quarter. Teacher Retirement System of Texas now owns 12,300 shares of the textile maker’s stock valued at $222,000 after purchasing an additional 595 shares during the period. Nisa Investment Advisors LLC raised its holdings in shares of Wolverine World Wide by 1.0% in the second quarter. Nisa Investment Advisors LLC now owns 58,586 shares of the textile maker’s stock valued at $1,059,000 after buying an additional 599 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of Wolverine World Wide by 1.3% during the second quarter. Thrivent Financial for Lutherans now owns 59,742 shares of the textile maker’s stock worth $1,074,000 after buying an additional 782 shares during the period. Finally, Amalgamated Bank boosted its stake in shares of Wolverine World Wide by 3.5% during the third quarter. Amalgamated Bank now owns 23,831 shares of the textile maker’s stock worth $654,000 after buying an additional 799 shares during the period. 90.25% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WWW has been the topic of several recent research reports. Stifel Nicolaus set a $25.00 price target on Wolverine World Wide in a research report on Thursday, November 6th. Exane BNP Paribas downgraded Wolverine World Wide from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $38.00 to $19.00 in a research note on Thursday, January 22nd. Telsey Advisory Group restated a “market perform” rating and set a $18.00 price target (down previously from $29.00) on shares of Wolverine World Wide in a research note on Wednesday, November 5th. Zacks Research downgraded Wolverine World Wide from a “hold” rating to a “strong sell” rating in a report on Friday, January 2nd. Finally, Argus reiterated a “hold” rating on shares of Wolverine World Wide in a research report on Friday, January 23rd. Four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Wolverine World Wide presently has a consensus rating of “Hold” and a consensus price target of $21.11.

Wolverine World Wide Stock Performance

Shares of WWW stock opened at $18.20 on Tuesday. The company has a current ratio of 1.34, a quick ratio of 0.79 and a debt-to-equity ratio of 1.40. The stock has a 50 day simple moving average of $18.00 and a 200-day simple moving average of $22.76. The company has a market cap of $1.49 billion, a price-to-earnings ratio of 17.50 and a beta of 1.91. Wolverine World Wide, Inc. has a 12-month low of $9.58 and a 12-month high of $32.80.

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

Insider Buying and Selling at Wolverine World Wide

In other news, Director Nicholas T. Long purchased 2,000 shares of the company’s stock in a transaction dated Friday, November 7th. The stock was acquired at an average price of $15.88 per share, for a total transaction of $31,760.00. Following the completion of the transaction, the director directly owned 78,268 shares in the company, valued at $1,242,895.84. This represents a 2.62% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Demonty Price acquired 25,000 shares of the stock in a transaction that occurred on Friday, November 7th. The stock was acquired at an average cost of $15.77 per share, for a total transaction of $394,250.00. Following the completion of the purchase, the director owned 75,000 shares in the company, valued at $1,182,750. The trade was a 50.00% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have bought 33,250 shares of company stock valued at $524,573. Insiders own 2.28% of the company’s stock.

Wolverine World Wide Profile

Wolverine World Wide, Inc (NYSE: WWW) is a global footwear and apparel company headquartered in Rockford, Michigan. The company designs, manufactures and markets a diversified portfolio of casual, active and performance lifestyle brands. Wolverine World Wide’s offerings span multiple price points and consumer segments, with products that include outdoor and trail footwear, running shoes, casual sneakers, boat shoes, work boots and related apparel and accessories.

Key brands in Wolverine World Wide’s portfolio include Merrell, an outdoor performance footwear brand; Saucony, known for running shoes and athletic gear; Sperry, which popularized boat shoes; Hush Puppies, a casual and comfort‐oriented line; and Keds, a heritage sneaker label.