Panagora Asset Management Inc. Has $1.41 Million Stock Holdings in Wolverine World Wide, Inc. $WWW

Key Points

• Panagora Asset Management Inc. increased its stake in Wolverine World Wide by 74.7% in the first quarter, now holding approximately 0.12% of the company worth $1.4 million.
• Other hedge funds including Callodine Capital Management and Nuveen Asset Management also significantly increased their holdings in Wolverine World Wide, indicating strong institutional interest.
• Wolverine World Wide declared a quarterly dividend of $0.10 per share to be paid on November 3rd, representing a 1.3% yield at current prices.

Panagora Asset Management Inc. lifted its holdings in shares of Wolverine World Wide, Inc. (NYSE:WWW - Free Report) by 74.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 100,995 shares of the textile maker's stock after acquiring an additional 43,186 shares during the quarter. Panagora Asset Management Inc. owned 0.12% of Wolverine World Wide worth $1,405,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Wolverine World Wide during the first quarter worth approximately $608,000. Illinois Municipal Retirement Fund grew its holdings in Wolverine World Wide by 8.4% during the 1st quarter. Illinois Municipal Retirement Fund now owns 44,317 shares of the textile maker's stock worth $616,000 after acquiring an additional 3,441 shares in the last quarter. Jupiter Asset Management Ltd. bought a new stake in shares of Wolverine World Wide in the 1st quarter worth about $3,440,000. Nuveen Asset Management LLC raised 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 valued at $13,949,000 after purchasing an additional 403,176 shares in the last quarter. Finally, Jump Financial LLC bought a new position in shares of Wolverine World Wide during the first quarter worth about $1,367,000. Hedge funds and other institutional investors own 90.25% of the company's stock.

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 dated 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 owned 76,268 shares in the company, valued at approximately $2,428,373.12. This trade represents a 14.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Brenda J. Lauderback sold 12,854 shares of the business'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 completion of the sale, the director owned 48,675 shares in the company, valued at $1,564,414.50. The trade was a 20.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.28% of the stock is currently owned by corporate insiders.

Wolverine World Wide Stock Performance

WWW stock traded down $0.18 during trading on Friday, reaching $31.84. 1,520,465 shares of the company's stock were exchanged, compared to its average volume of 1,669,807. The firm has a market cap of $2.59 billion, a PE ratio of 31.21 and a beta of 1.80. The company has a quick ratio of 0.75, a current ratio of 1.24 and a debt-to-equity ratio of 1.58. Wolverine World Wide, Inc. has a 1-year low of $9.58 and a 1-year high of $32.80. The company's fifty day moving average price is $25.01 and its 200-day moving average price is $18.35.

Wolverine World Wide (NYSE:WWW - Get Free Report) last posted its quarterly earnings data 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 net margin of 4.73% and a return on equity of 31.99%. The business had revenue of $474.20 million during the quarter, compared to the consensus estimate of $447.82 million. During the same quarter in the prior year, the company posted $0.15 earnings per share. The company's quarterly revenue was up 11.5% compared to the same quarter last year. On average, research analysts expect that Wolverine World Wide, Inc. will post 1.23 EPS for the current fiscal year.

Wolverine World Wide Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Wednesday, October 1st will be given a $0.10 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $0.40 annualized dividend and a yield of 1.3%. Wolverine World Wide's payout ratio is 39.22%.

Analyst Ratings Changes

Several research analysts have recently commented on WWW shares. Argus upgraded Wolverine World Wide from a "hold" rating to a "buy" rating and set a $20.00 target price for the company in a research report on Friday, May 16th. KeyCorp reiterated an "overweight" rating and set a $32.00 target price (up previously from $25.00) on shares of Wolverine World Wide in a research note on Thursday, August 7th. Piper Sandler reaffirmed 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. Wall Street Zen raised Wolverine World Wide from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Finally, Stifel Nicolaus upped their price objective on Wolverine World Wide from $30.00 to $36.00 and gave the stock a "buy" rating in a research note on Wednesday, August 27th. One research 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. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $27.50.

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.