223,706 Shares in Wolverine World Wide, Inc. $WWW Bought by Nuveen LLC

Key Points

• Nuveen LLC has invested approximately $3.11 million in Wolverine World Wide, acquiring 223,706 shares during the first quarter, representing around 0.28% of the company's stock.
• Wolverine World Wide has announced a quarterly dividend of $0.10 per share, scheduled for payment on November 3rd, reflecting an annualized yield of 1.2%.
• The company's latest quarterly earnings report revealed an EPS of $0.35, beating expectations, with revenues of $474.20 million, which is an 11.5% increase year-over-year.

Nuveen LLC acquired a new position in Wolverine World Wide, Inc. (NYSE:WWW - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 223,706 shares of the textile maker's stock, valued at approximately $3,112,000. Nuveen LLC owned about 0.28% of Wolverine World Wide at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Wolverine World Wide in the first quarter worth about $608,000. Illinois Municipal Retirement Fund boosted its holdings in shares of Wolverine World Wide by 8.4% during the first quarter. Illinois Municipal Retirement Fund now owns 44,317 shares of the textile maker's stock worth $616,000 after purchasing an additional 3,441 shares during the period. Jupiter Asset Management Ltd. acquired a new stake in shares of Wolverine World Wide during the first quarter worth approximately $3,440,000. Nuveen Asset Management LLC boosted its holdings in shares of Wolverine World Wide by 179.1% during the fourth quarter. Nuveen Asset Management LLC now owns 628,338 shares of the textile maker's stock worth $13,949,000 after purchasing an additional 403,176 shares during the period. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Wolverine World Wide during the fourth quarter worth approximately $204,000. 90.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Wolverine World Wide

In other news, Director Nicholas T. Long sold 12,854 shares of the firm'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 transaction 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 trade represents a 14.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brenda J. Lauderback sold 12,854 shares of the firm'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 transaction of $413,127.56. Following the transaction, the director directly 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 disclosure for this sale can be found here. Corporate insiders own 2.28% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on WWW shares. Stifel Nicolaus lifted their target price on shares of Wolverine World Wide from $30.00 to $36.00 and gave the company a "buy" rating in a research note on Wednesday. Wall Street Zen raised shares of Wolverine World Wide from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Piper Sandler reaffirmed an "overweight" rating and set a $25.00 target price (up previously from $20.00) on shares of Wolverine World Wide in a research report on Tuesday, August 5th. Telsey Advisory Group reaffirmed a "market perform" rating and set a $29.00 target price (up previously from $17.00) on shares of Wolverine World Wide in a research report on Wednesday, August 6th. Finally, Argus raised shares of Wolverine World Wide from a "hold" rating to a "buy" rating and set a $20.00 target price on the stock in a research report on Friday, May 16th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $27.50.

Wolverine World Wide Price Performance

Shares of NYSE:WWW traded down $0.39 on Friday, hitting $32.01. The stock had a trading volume of 1,389,188 shares, compared to its average volume of 2,171,068. Wolverine World Wide, Inc. has a twelve month low of $9.58 and a twelve month high of $32.59. 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 firm's 50 day moving average price is $23.62 and its 200-day moving average price is $17.87. The company has a market capitalization of $2.60 billion, a price-to-earnings ratio of 31.38 and a beta of 1.74.

Wolverine World Wide (NYSE:WWW - Get Free Report) last announced its earnings results on Wednesday, August 6th. The textile maker reported $0.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.23 by $0.12. Wolverine World Wide had a net margin of 4.73% and a return on equity of 31.99%. The company had revenue of $474.20 million for the quarter, compared to analyst estimates of $447.82 million. During the same period in the prior year, the business earned $0.15 earnings per share. Wolverine World Wide's quarterly revenue was up 11.5% on a year-over-year basis. On average, equities research analysts predict that Wolverine World Wide, Inc. will post 1.23 earnings per share for the current year.

Wolverine World Wide Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Wednesday, October 1st will be paid a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.2%. Wolverine World Wide's dividend payout ratio is 39.22%.

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.