Ancora Advisors LLC Buys 39,820 Shares of Wolverine World Wide, Inc. $WWW

Key Points

• Ancora Advisors LLC increased its stake in Wolverine World Wide, Inc. by 13.4%, holding approximately 336,430 shares valued at $4.68 million as of the latest filing.
• Wolverine World Wide reported a quarterly earnings per share of $0.35, exceeding analyst expectations of $0.23, with a revenue of $474.20 million, marking an 11.5% increase year-over-year.
• The company announced a quarterly dividend of $0.10 per share, reflecting an annualized dividend yield of 1.3% and a payout ratio of 39.22%.

Ancora Advisors LLC raised its holdings in shares of Wolverine World Wide, Inc. (NYSE:WWW - Free Report) by 13.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 336,430 shares of the textile maker's stock after purchasing an additional 39,820 shares during the quarter. Ancora Advisors LLC owned approximately 0.42% of Wolverine World Wide worth $4,680,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in 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 valued at $125,271,000 after purchasing an additional 45,779 shares during the last quarter. Earnest Partners LLC lifted its holdings in Wolverine World Wide by 0.8% during the 1st quarter. Earnest Partners LLC now owns 5,270,775 shares of the textile maker's stock valued at $73,316,000 after purchasing an additional 41,857 shares during the last quarter. Callodine Capital Management LP lifted its holdings in Wolverine World Wide by 60.2% during the 1st quarter. Callodine Capital Management LP now owns 3,047,071 shares of the textile maker's stock valued at $42,385,000 after purchasing an additional 1,145,455 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of 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. Finally, Northern Trust Corp lifted its holdings in shares of Wolverine World Wide by 1.1% during the first quarter. Northern Trust Corp now owns 1,017,233 shares of the textile maker's stock worth $14,150,000 after buying an additional 11,398 shares in the last quarter. Institutional investors and hedge funds own 90.25% of the company's stock.

Insider Activity

In other news, Director Brenda J. Lauderback sold 12,854 shares of the company's stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $32.14, for a total value of $413,127.56. Following the completion of the transaction, the director owned 48,675 shares of the company's stock, valued at $1,564,414.50. This represents a 20.89% decrease in their ownership of the stock. The transaction was disclosed in a 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 that occurred on Thursday, August 28th. The shares were sold at an average price of $31.84, for a total value of $409,271.36. Following the completion of the transaction, the director directly owned 76,268 shares of the company's stock, valued at $2,428,373.12. This represents a 14.42% decrease in their position. The disclosure for this sale can be found here. 2.28% of the stock is currently owned by insiders.

Wolverine World Wide Price Performance

Shares of NYSE WWW traded down $0.18 during mid-day trading on Friday, reaching $31.84. The company had a trading volume of 1,520,465 shares, compared to its average volume of 1,669,807. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.75 and a current ratio of 1.24. Wolverine World Wide, Inc. has a one year low of $9.58 and a one year high of $32.80. The firm has a market cap of $2.59 billion, a price-to-earnings ratio of 31.21 and a beta of 1.80. The business's 50-day simple moving average is $25.01 and its 200 day simple moving average is $18.35.

Wolverine World Wide (NYSE:WWW - Get Free Report) last issued its quarterly 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. Wolverine World Wide had a return on equity of 31.99% and a net margin of 4.73%.The company had revenue of $474.20 million for the quarter, compared to analysts' expectations of $447.82 million. During the same quarter last year, the business earned $0.15 earnings per share. Wolverine World Wide's revenue was up 11.5% on a year-over-year basis. On average, research analysts predict that Wolverine World Wide, Inc. will post 1.23 earnings per share for the current fiscal year.

Wolverine World Wide Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on WWW shares. UBS Group lifted their target price on Wolverine World Wide from $30.00 to $36.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Telsey Advisory Group reissued a "market perform" rating and set a $29.00 target price (up previously from $17.00) on shares of Wolverine World Wide in a report on Wednesday, August 6th. Wall Street Zen raised Wolverine World Wide from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Argus raised Wolverine World Wide from a "hold" rating to a "buy" rating and set a $20.00 target price for the company in a report on Friday, May 16th. Finally, Piper Sandler reissued an "overweight" rating and set a $25.00 target price (up previously from $20.00) on shares of Wolverine World Wide in a report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $27.50.

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.