Wolverine World Wide, Inc. $WWW Shares Sold by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. reduced its holdings in Wolverine World Wide by 18.0%, now owning 877,429 shares valued at approximately $12.2 million.
• Wolverine World Wide's stock rose 6.4%, with a reported quarterly EPS of $0.35, surpassing estimates and reflecting an 11.5% revenue growth year-over-year.
• The company recently declared a quarterly dividend of $0.10 per share, resulting in a 1.3% yield and a dividend payout ratio of 39.22%.

Charles Schwab Investment Management Inc. reduced its position in Wolverine World Wide, Inc. (NYSE:WWW - Free Report) by 18.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 877,429 shares of the textile maker's stock after selling 191,980 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.08% of Wolverine World Wide worth $12,205,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of WWW. WCM Investment Management LLC acquired a new stake in shares of Wolverine World Wide in the 1st quarter worth $7,164,000. Nuveen Asset Management LLC increased its stake in shares of Wolverine World Wide by 179.1% in the 4th quarter. Nuveen Asset Management LLC now owns 628,338 shares of the textile maker's stock worth $13,949,000 after acquiring an additional 403,176 shares during the last quarter. First Trust Advisors LP purchased a new position in shares of Wolverine World Wide during the 4th quarter worth $7,862,000. Driehaus Capital Management LLC grew its holdings in shares of Wolverine World Wide by 135.5% during the 4th quarter. Driehaus Capital Management LLC now owns 593,693 shares of the textile maker's stock worth $13,180,000 after purchasing an additional 341,601 shares during the period. Finally, Manning & Napier Advisors LLC grew its holdings in shares of Wolverine World Wide by 64.6% during the 1st quarter. Manning & Napier Advisors LLC now owns 800,000 shares of the textile maker's stock worth $11,128,000 after purchasing an additional 313,997 shares during the period. 90.25% of the stock is owned by institutional investors and hedge funds.

Wolverine World Wide Stock Down 1.3%

WWW stock traded down $0.42 during mid-day trading on Friday, reaching $31.98. The company had a trading volume of 223,176 shares, compared to its average volume of 1,533,508. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.75 and a current ratio of 1.24. The company has a market capitalization of $2.60 billion, a price-to-earnings ratio of 31.35 and a beta of 1.74. The firm has a fifty day simple moving average of $23.33 and a 200 day simple moving average of $17.80. Wolverine World Wide, Inc. has a fifty-two week low of $9.58 and a fifty-two week high of $32.59.

Wolverine World Wide (NYSE:WWW - Get Free Report) last issued its earnings results on Wednesday, August 6th. The textile maker reported $0.35 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $474.20 million for the quarter, compared to analyst estimates of $447.82 million. During the same quarter last year, the company earned $0.15 EPS. The business's quarterly revenue was up 11.5% on a year-over-year basis. Analysts forecast 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. Stockholders of record on Wednesday, October 1st will be given a dividend of $0.10 per share. 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 39.22%.

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 stock was sold at an average price of $32.14, for a total transaction of $413,127.56. Following the sale, the director 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 value of $409,271.36. Following the sale, the director directly owned 76,268 shares in the company, valued at $2,428,373.12. This trade 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 company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Telsey Advisory Group restated a "market perform" rating and set a $29.00 target price (up from $17.00) on shares of Wolverine World Wide in a report on Wednesday, August 6th. Wall Street Zen upgraded Wolverine World Wide from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Piper Sandler restated an "overweight" rating and set a $25.00 target price (up from $20.00) on shares of Wolverine World Wide in a report on Tuesday, August 5th. Stifel Nicolaus raised their target price on Wolverine World Wide from $30.00 to $36.00 and gave the company a "buy" rating in a report on Wednesday. Finally, Robert W. Baird raised their target price on Wolverine World Wide from $15.00 to $20.00 and gave the company an "outperform" rating in a report on Tuesday, May 6th. One equities research 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 stock. According to MarketBeat, Wolverine World Wide presently has an average rating of "Buy" and an average target price 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.