Wolverine World Wide, Inc. $WWW Shares Acquired by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC increased its stake in Wolverine World Wide by 234.3% during the first quarter, owning 237,841 shares worth approximately $3.3 million.
• Wolverine World Wide reported quarterly earnings of $0.35 EPS, surpassing analysts' expectations, with revenue of $474.20 million, up 11.5% compared to the same quarter last year.
• The company declared a quarterly dividend of $0.10 per share, with an annualized yield of 1.3%, to be paid to investors of record on October 1.

Intech Investment Management LLC lifted its stake in shares of Wolverine World Wide, Inc. (NYSE:WWW - Free Report) by 234.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 237,841 shares of the textile maker's stock after acquiring an additional 166,692 shares during the quarter. Intech Investment Management LLC owned 0.29% of Wolverine World Wide worth $3,308,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ameriprise Financial Inc. raised its position in Wolverine World Wide by 19.7% in the 4th quarter. Ameriprise Financial Inc. now owns 356,685 shares of the textile maker's stock valued at $7,918,000 after purchasing an additional 58,664 shares in the last quarter. Captrust Financial Advisors increased its stake in shares of Wolverine World Wide by 6.6% during the fourth quarter. Captrust Financial Advisors now owns 26,834 shares of the textile maker's stock worth $596,000 after buying an additional 1,667 shares during the period. Deutsche Bank AG raised its holdings in Wolverine World Wide by 45.9% in the fourth quarter. Deutsche Bank AG now owns 72,859 shares of the textile maker's stock valued at $1,617,000 after acquiring an additional 22,907 shares in the last quarter. Lazard Asset Management LLC raised its holdings in Wolverine World Wide by 40.6% in the fourth quarter. Lazard Asset Management LLC now owns 44,815 shares of the textile maker's stock valued at $994,000 after acquiring an additional 12,943 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Wolverine World Wide by 3.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 45,159 shares of the textile maker's stock worth $1,003,000 after acquiring an additional 1,495 shares during the last quarter. 90.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Wolverine World Wide

In other Wolverine World Wide news, 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 completion of the sale, the director directly owned 76,268 shares of the company's stock, valued at $2,428,373.12. This represents a 14.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brenda J. Lauderback sold 12,854 shares of Wolverine World Wide stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $32.14, for a total value of $413,127.56. Following the completion of the transaction, the director owned 48,675 shares in the company, valued at $1,564,414.50. This trade represents a 20.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.28% of the company's stock.

Wolverine World Wide Stock Performance

Shares of WWW stock opened at $30.54 on Friday. The stock's 50-day moving average is $26.18 and its two-hundred day moving average is $18.90. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.75 and a current ratio of 1.24. Wolverine World Wide, Inc. has a 1 year low of $9.58 and a 1 year high of $32.80. The firm has a market cap of $2.48 billion, a price-to-earnings ratio of 29.94 and a beta of 1.80.

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

Wolverine World Wide Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 1.3%. Wolverine World Wide's dividend payout ratio is currently 39.22%.

Analyst Ratings Changes

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

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