Wolverine World Wide, Inc. $WWW Shares Sold by Algert Global LLC

Key Points

• Algert Global LLC significantly reduced its stake in Wolverine World Wide, Inc. by selling 87,390 shares, bringing its holdings down to 15,220 shares worth approximately $212,000.
• Multiple analysts have recently increased their price targets for WWW, with UBS raising its target to $36.00, indicating bullish sentiment for the stock.
• Wolverine World Wide is set to pay a quarterly dividend of $0.10 per share on November 3rd, which reflects a 1.3% yield based on its current stock price.

Algert Global LLC lessened its holdings in Wolverine World Wide, Inc. (NYSE:WWW - Free Report) by 85.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,220 shares of the textile maker's stock after selling 87,390 shares during the period. Algert Global LLC's holdings in Wolverine World Wide were worth $212,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. purchased a new position in Wolverine World Wide during the first quarter worth $608,000. Illinois Municipal Retirement Fund boosted its stake in Wolverine World Wide by 8.4% during the first quarter. Illinois Municipal Retirement Fund now owns 44,317 shares of the textile maker's stock worth $616,000 after buying an additional 3,441 shares during the period. Jupiter Asset Management Ltd. purchased a new position in Wolverine World Wide during the first quarter worth $3,440,000. Nuveen Asset Management LLC boosted its stake in Wolverine World Wide by 179.1% during the fourth quarter. Nuveen Asset Management LLC now owns 628,338 shares of the textile maker's stock worth $13,949,000 after buying an additional 403,176 shares during the period. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Wolverine World Wide during the fourth quarter valued at $204,000. 90.25% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Wolverine World Wide

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

Wolverine World Wide Stock Down 1.2%

Wolverine World Wide stock traded down $0.39 during trading hours on Friday, reaching $32.01. The stock had a trading volume of 1,389,188 shares, compared to its average volume of 1,541,067. The company has a market cap of $2.60 billion, a price-to-earnings ratio of 31.38 and a beta of 1.74. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.24 and a quick ratio of 0.75. The business's 50 day moving average price is $23.33 and its 200-day moving average price is $17.80. Wolverine World Wide, Inc. has a 52 week low of $9.58 and a 52 week high of $32.59.

Wolverine World Wide (NYSE:WWW - Get Free Report) last announced its earnings results on Wednesday, August 6th. The textile maker reported $0.35 EPS for the quarter, topping analysts' consensus estimates of $0.23 by $0.12. The business had revenue of $474.20 million during the quarter, compared to the consensus estimate of $447.82 million. Wolverine World Wide had a net margin of 4.73% and a return on equity of 31.99%. The firm's revenue was up 11.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.15 earnings per share. Sell-side analysts anticipate that Wolverine World Wide, Inc. will post 1.23 EPS for the current year.

Wolverine World Wide Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Wednesday, October 1st will be issued a $0.10 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $0.40 dividend on an annualized basis and a yield of 1.2%. Wolverine World Wide's payout ratio is currently 39.22%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on WWW. Robert W. Baird boosted their target price on shares of Wolverine World Wide from $15.00 to $20.00 and gave the company an "outperform" rating in a research note on Tuesday, May 6th. Argus raised shares of Wolverine World Wide from a "hold" rating to a "buy" rating and set a $20.00 target price for the company in a research note on Friday, May 16th. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $29.00 price objective (up from $17.00) on shares of Wolverine World Wide in a research note on Wednesday, August 6th. Wall Street Zen raised shares of Wolverine World Wide from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $25.00 price objective (up from $20.00) on shares of Wolverine World Wide in a research note on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $27.50.

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.