Wolverine World Wide, Inc. $WWW Shares Acquired by Trexquant Investment LP

Key Points

• Trexquant Investment LP increased its stake in Wolverine World Wide by 47.3% in the first quarter, totaling 259,732 shares valued at approximately $3.6 million.
• Wolverine World Wide's recent quarterly earnings report showed an EPS of $0.35, exceeding analysts' expectations, with revenue up 11.5% year-over-year.
• Upcoming dividend payment of $0.10 per share is set for November 3rd, representing a 1.3% dividend yield.

Trexquant Investment LP increased its holdings in Wolverine World Wide, Inc. (NYSE:WWW - Free Report) by 47.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 259,732 shares of the textile maker's stock after purchasing an additional 83,463 shares during the period. Trexquant Investment LP owned 0.32% of Wolverine World Wide worth $3,613,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Callodine Capital Management LP grew its position in Wolverine World Wide by 60.2% during the first quarter. Callodine Capital Management LP now owns 3,047,071 shares of the textile maker's stock valued at $42,385,000 after acquiring an additional 1,145,455 shares during the period. WCM Investment Management LLC purchased a new stake in Wolverine World Wide during the first quarter valued at about $7,164,000. Nuveen Asset Management LLC grew its position in 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 valued at $13,949,000 after acquiring an additional 403,176 shares during the period. Driehaus Capital Management LLC grew its position in Wolverine World Wide by 135.5% during the fourth quarter. Driehaus Capital Management LLC now owns 593,693 shares of the textile maker's stock valued at $13,180,000 after acquiring an additional 341,601 shares during the period. Finally, Manning & Napier Advisors LLC grew its position in Wolverine World Wide by 64.6% during the first quarter. Manning & Napier Advisors LLC now owns 800,000 shares of the textile maker's stock valued at $11,128,000 after acquiring an additional 313,997 shares during the period. Hedge funds and other institutional investors own 90.25% of the company's stock.

Wolverine World Wide Stock Down 0.5%

NYSE WWW traded down $0.18 on Friday, hitting $31.84. 1,520,465 shares of the stock traded hands, compared to its average volume of 1,669,807. The stock has a 50-day moving average of $25.01 and a 200 day moving average of $18.35. Wolverine World Wide, Inc. has a twelve month low of $9.58 and a twelve month high of $32.80. The company has a market capitalization of $2.59 billion, a P/E ratio of 31.21 and a beta of 1.80. The company has a current ratio of 1.24, a quick ratio of 0.75 and a debt-to-equity ratio of 1.58.

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

Wolverine World Wide Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Wednesday, October 1st will be paid a dividend of $0.10 per share. 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 dividend payout ratio is 39.22%.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, Director Nicholas T. Long sold 12,854 shares of the 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 sale, the director owned 76,268 shares in the company, valued at $2,428,373.12. This represents a 14.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Brenda J. Lauderback sold 12,854 shares of the stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $32.14, for a total value of $413,127.56. Following 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 owned by corporate insiders.

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.