Hsbc Holdings PLC Trims Stock Position in Wolverine World Wide, Inc. $WWW

Key Points

• Hsbc Holdings PLC reduced its stake in Wolverine World Wide, Inc. by 55.6% in Q1, owning 15,223 shares valued at $212,000 after selling 19,042 shares.
• Several institutional investors, including WCM Investment Management and Nuveen Asset Management, have made significant purchases or increases in their positions in Wolverine World Wide.
• The company has announced a quarterly dividend of $0.10 per share, with the payment scheduled for November 3rd, reflecting an annual yield of 1.3%.

Hsbc Holdings PLC cut its stake in Wolverine World Wide, Inc. (NYSE:WWW - Free Report) by 55.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,223 shares of the textile maker's stock after selling 19,042 shares during the period. Hsbc Holdings PLC's holdings in Wolverine World Wide were worth $212,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of WWW. WCM Investment Management LLC acquired a new position in Wolverine World Wide in the first quarter valued at $7,164,000. Nuveen Asset Management LLC increased its stake in Wolverine World Wide by 179.1% in the fourth quarter. Nuveen Asset Management LLC now owns 628,338 shares of the textile maker's stock valued at $13,949,000 after purchasing an additional 403,176 shares during the period. Driehaus Capital Management LLC increased its stake in Wolverine World Wide by 135.5% in the fourth quarter. Driehaus Capital Management LLC now owns 593,693 shares of the textile maker's stock valued at $13,180,000 after purchasing an additional 341,601 shares during the period. Manning & Napier Advisors LLC increased its stake in Wolverine World Wide by 64.6% in the first quarter. Manning & Napier Advisors LLC now owns 800,000 shares of the textile maker's stock valued at $11,128,000 after purchasing an additional 313,997 shares during the period. Finally, Invesco Ltd. increased its stake in Wolverine World Wide by 36.1% in the first quarter. Invesco Ltd. now owns 951,235 shares of the textile maker's stock valued at $13,232,000 after purchasing an additional 252,331 shares during the period. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Wolverine World Wide

In related news, Director Brenda J. Lauderback sold 12,854 shares of the company's stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $32.14, for a total transaction of $413,127.56. Following the completion of the transaction, the director owned 48,675 shares of the company's stock, valued at approximately $1,564,414.50. This represents a 20.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible 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 stock was sold at an average price of $31.84, for a total transaction of $409,271.36. Following the transaction, the director directly owned 76,268 shares of the company's stock, 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. Corporate insiders own 2.28% of the company's stock.

Analyst Ratings Changes

WWW has been the topic of a number of recent analyst reports. Stifel Nicolaus boosted their price target on shares of Wolverine World Wide from $30.00 to $36.00 and gave the stock a "buy" rating in a research note on Wednesday, August 27th. Piper Sandler reiterated an "overweight" rating and set a $25.00 price target (up from $20.00) on shares of Wolverine World Wide in a research note on Tuesday, August 5th. Telsey Advisory Group reiterated a "market perform" rating and set a $29.00 price target (up from $17.00) on shares of Wolverine World Wide in a research note on Wednesday, August 6th. Wall Street Zen upgraded shares of Wolverine World Wide from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, KeyCorp reiterated an "overweight" rating and set a $32.00 price target (up from $25.00) on shares of Wolverine World Wide in a research note on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Wolverine World Wide currently has an average rating of "Buy" and a consensus price target of $27.50.

Wolverine World Wide Stock Down 0.5%

Shares of NYSE WWW opened at $31.84 on Friday. Wolverine World Wide, Inc. has a 12-month low of $9.58 and a 12-month high of $32.80. The company has a market capitalization of $2.59 billion, a PE ratio of 31.21 and a beta of 1.80. 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 firm's 50-day moving average is $25.01 and its two-hundred day moving average is $18.33.

Wolverine World Wide (NYSE:WWW - Get Free Report) last announced its quarterly 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 company had revenue of $474.20 million for 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 company's revenue for the quarter was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.15 earnings per share. Equities analysts anticipate that Wolverine World Wide, Inc. will post 1.23 EPS for the current fiscal year.

Wolverine World Wide Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Wednesday, October 1st will be given 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 dividend payout ratio is 39.22%.

About Wolverine World Wide

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.

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