Legal & General Group Plc Purchases New Shares in Wolverine World Wide, Inc. $WWW

Key Points

• Legal & General Group Plc purchased 181,111 shares of Wolverine World Wide worth approximately $2.99 million, while institutional investors and hedge funds collectively own 90.25% of the company.
• Analysts maintain a generally cautious outlook, with five Buy ratings and six Holds, resulting in a consensus rating of Hold and an average price target of $23.11.
• Wolverine World Wide beat quarterly estimates with $0.40 in earnings per share and $506.4 million in revenue, up 6.8% year over year. The company also declared a quarterly dividend of $0.10 per share, equal to a 1.9% annualized yield.

Legal & General Group Plc purchased a new position in shares of Wolverine World Wide, Inc. (NYSE:WWW - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 181,111 shares of the textile maker's stock, valued at approximately $2,994,000. Legal & General Group Plc owned 0.22% of Wolverine World Wide at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in WWW. BlackRock Inc. purchased a new position in Wolverine World Wide in the 2nd quarter valued at about $204,878,000. Millennium Management LLC lifted its stake in shares of Wolverine World Wide by 1,740.2% in the fourth quarter. Millennium Management LLC now owns 1,204,127 shares of the textile maker's stock worth $21,855,000 after acquiring an additional 1,138,691 shares in the last quarter. Callodine Capital Management LP lifted its stake in shares of Wolverine World Wide by 27.8% in the first quarter. Callodine Capital Management LP now owns 4,505,165 shares of the textile maker's stock worth $73,524,000 after acquiring an additional 980,839 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in Wolverine World Wide in the second quarter valued at about $13,557,000. Finally, Balyasny Asset Management L.P. boosted its holdings in Wolverine World Wide by 521.1% in the fourth quarter. Balyasny Asset Management L.P. now owns 970,763 shares of the textile maker's stock valued at $17,619,000 after purchasing an additional 814,457 shares during the last quarter. Institutional investors and hedge funds own 90.25% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on WWW. Seaport Research Partners restated a "buy" rating and set a $30.00 price objective on shares of Wolverine World Wide in a report on Friday, August 14th. Weiss Ratings upgraded Wolverine World Wide from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, June 11th. KeyCorp reissued an "overweight" rating and set a $25.00 price target on shares of Wolverine World Wide in a research report on Thursday, August 13th. Telsey Advisory Group restated a "market perform" rating and issued a $21.00 price target on shares of Wolverine World Wide in a research note on Friday, August 14th. Finally, Stifel Nicolaus upped their price target on shares of Wolverine World Wide from $25.00 to $26.00 and gave the company a "buy" rating in a report on Friday, August 14th. Five research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $23.11.

Wolverine World Wide Stock Up 5.7%

NYSE:WWW opened at $20.67 on Friday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.98 and a current ratio of 1.55. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of 16.02, a price-to-earnings-growth ratio of 1.41 and a beta of 1.72. Wolverine World Wide, Inc. has a one year low of $13.47 and a one year high of $32.80. The stock has a 50-day simple moving average of $18.97 and a 200 day simple moving average of $17.66.

Wolverine World Wide (NYSE:WWW - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The textile maker reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.02. The firm had revenue of $506.40 million for the quarter, compared to analyst estimates of $500.74 million. Wolverine World Wide had a net margin of 5.55% and a return on equity of 28.50%. Wolverine World Wide's quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.32 earnings per share. Wolverine World Wide has set its FY 2026 guidance at 1.550-1.650 EPS. Sell-side analysts predict that Wolverine World Wide, Inc. will post 1.64 EPS for the current fiscal year.

Wolverine World Wide Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Thursday, October 1st will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Thursday, October 1st. Wolverine World Wide's dividend payout ratio (DPR) is 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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