Bank of New York Mellon Corp Invests $13.56 Million in Wolverine World Wide, Inc. $WWW

Key Points

• Bank of New York Mellon purchased 820,166 shares of Wolverine World Wide, valued at approximately $13.56 million, giving it a 1.0% stake. Institutional investors and hedge funds collectively own 90.25% of the company.
• Analyst sentiment remains mixed, with five Buy ratings and six Holds; the stock has an average rating of Hold and an average price target of $23.11, versus a recent price of $19.28.
• Wolverine World Wide exceeded quarterly expectations with adjusted EPS of $0.40 and revenue of $506.4 million, while revenue rose 6.8% year over year. The company also declared a quarterly dividend of $0.10 per share, representing a 2.1% annual yield.

Bank of New York Mellon Corp purchased a new stake in shares of Wolverine World Wide, Inc. (NYSE:WWW - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 820,166 shares of the textile maker's stock, valued at approximately $13,557,000. Bank of New York Mellon Corp owned 1.00% of Wolverine World Wide at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Thrivent Financial for Lutherans raised its position 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 valued at $1,074,000 after buying an additional 782 shares during the last quarter. Clearstead Advisors LLC lifted its holdings in shares of Wolverine World Wide by 191.8% during the fourth quarter. Clearstead Advisors LLC now owns 1,602 shares of the textile maker's stock valued at $29,000 after acquiring an additional 1,053 shares during the period. LPL Financial LLC boosted its position in Wolverine World Wide by 8.0% in the fourth quarter. LPL Financial LLC now owns 16,346 shares of the textile maker's stock valued at $297,000 after buying an additional 1,217 shares in the last quarter. Quadrant Capital Group LLC grew its position in Wolverine World Wide by 68.1% during the 4th quarter. Quadrant Capital Group LLC now owns 3,040 shares of the textile maker's stock worth $55,000 after acquiring an additional 1,232 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Wolverine World Wide by 16.3% in the second quarter. GAMMA Investing LLC now owns 9,505 shares of the textile maker's stock valued at $157,000 after buying an additional 1,333 shares during the last quarter. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WWW has been the topic of several recent research reports. Telsey Advisory Group reiterated a "market perform" rating and issued a $21.00 price target on shares of Wolverine World Wide in a report on Friday, August 14th. Needham & Company LLC upped their price objective on Wolverine World Wide from $21.00 to $24.00 and gave the stock a "buy" rating in a research report on Thursday, August 13th. Williams Trading set a $20.00 price objective on shares of Wolverine World Wide in a research note on Wednesday, August 19th. Zacks Research lowered shares of Wolverine World Wide from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 4th. Finally, Weiss Ratings upgraded Wolverine World Wide from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, June 11th. Five equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $23.11.

Wolverine World Wide Price Performance

Shares of NYSE:WWW opened at $19.28 on Wednesday. The firm has a 50 day moving average of $18.81 and a 200-day moving average of $17.61. The company has a current ratio of 1.55, a quick ratio of 0.98 and a debt-to-equity ratio of 1.17. Wolverine World Wide, Inc. has a 12 month low of $13.47 and a 12 month high of $32.80. The stock has a market capitalization of $1.58 billion, a PE ratio of 14.95, a PEG ratio of 1.34 and a beta of 1.72.

Wolverine World Wide (NYSE:WWW - Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The textile maker reported $0.40 EPS for the quarter, beating analysts' consensus estimates of $0.38 by $0.02. The company had revenue of $506.40 million during the quarter, compared to analysts' expectations of $500.74 million. Wolverine World Wide had a return on equity of 28.50% and a net margin of 5.55%.Wolverine World Wide's revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.32 EPS. Wolverine World Wide has set its FY 2026 guidance at 1.550-1.650 EPS. On average, equities research analysts predict that Wolverine World Wide, Inc. will post 1.64 EPS for the current fiscal year.

Wolverine World Wide Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Thursday, October 1st will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Thursday, October 1st. Wolverine World Wide's dividend payout ratio (DPR) is currently 31.01%.

Wolverine World Wide Company 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.

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