American Century Companies Inc. Grows Holdings in Wolverine World Wide, Inc. $WWW

Key Points

• American Century Companies Inc. raised its position in Wolverine World Wide, Inc. by 13.9% during Q1, bringing its total shares to 190,588, valued at approximately $2.65 million.
• Insider transactions included Director Nicholas T. Long and Brenda J. Lauderback selling shares, resulting in a 14.42% and 20.89% decrease in their ownership, respectively.
• Wolverine World Wide recently reported an EPS of $0.35 for Q2, exceeding analysts' expectations, alongside an 11.5% year-over-year revenue growth to $474.20 million.

American Century Companies Inc. grew its holdings in Wolverine World Wide, Inc. (NYSE:WWW - Free Report) by 13.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 190,588 shares of the textile maker's stock after acquiring an additional 23,212 shares during the period. American Century Companies Inc. owned about 0.24% of Wolverine World Wide worth $2,651,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. boosted its holdings 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 valued at $125,271,000 after acquiring an additional 45,779 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in Wolverine World Wide by 11.4% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,107,721 shares of the textile maker's stock worth $24,591,000 after buying an additional 113,238 shares in the last quarter. Northern Trust Corp boosted its holdings in Wolverine World Wide by 12.4% during the fourth quarter. Northern Trust Corp now owns 1,005,835 shares of the textile maker's stock worth $22,330,000 after buying an additional 111,151 shares in the last quarter. Invesco Ltd. boosted its holdings in Wolverine World Wide by 36.1% during the first quarter. Invesco Ltd. now owns 951,235 shares of the textile maker's stock worth $13,232,000 after buying an additional 252,331 shares in the last quarter. Finally, Manning & Napier Advisors LLC boosted its holdings in Wolverine World Wide by 64.6% during the first quarter. Manning & Napier Advisors LLC now owns 800,000 shares of the textile maker's stock worth $11,128,000 after buying an additional 313,997 shares in the last quarter. 90.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WWW has been the topic of a number of recent analyst reports. Stifel Nicolaus increased their price target on shares of Wolverine World Wide from $30.00 to $36.00 and gave the stock a "buy" rating in a report on Wednesday, August 27th. Wall Street Zen raised shares of Wolverine World Wide from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Piper Sandler reissued an "overweight" rating and set a $25.00 price target (up from $20.00) on shares of Wolverine World Wide in a report on Tuesday, August 5th. Telsey Advisory Group reissued a "market perform" rating and set a $29.00 price target (up from $17.00) on shares of Wolverine World Wide in a report on Wednesday, August 6th. Finally, Argus raised shares of Wolverine World Wide from a "hold" rating to a "buy" rating and set a $20.00 price target on the stock in a report on Friday, May 16th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $27.50.

Insider Activity

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

Wolverine World Wide Price Performance

Shares of NYSE WWW traded down $0.18 during trading on Friday, hitting $31.84. The company had a trading volume of 1,520,465 shares, compared to its average volume of 1,669,807. The stock has a fifty day simple moving average of $25.01 and a two-hundred day simple moving average of $18.33. Wolverine World Wide, Inc. has a fifty-two week low of $9.58 and a fifty-two week high of $32.80. The firm has a market capitalization of $2.59 billion, a price-to-earnings ratio of 31.21 and a beta of 1.80. The company has a quick ratio of 0.75, a current ratio of 1.24 and a debt-to-equity ratio of 1.58.

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

Wolverine World Wide Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Wednesday, October 1st will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, October 1st. Wolverine World Wide's dividend payout ratio (DPR) is currently 39.22%.

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.